California's Proposition 87 fails

Proposition 71 passed, in part, because advocates vastly outspent the opponents. Proposition 87 met a different fate. Amendment 2 in Missouri appears to have narrowly passed.

The Mercury-News wrote:

Saying oil companies aren't doing enough to develop gasoline alternatives, Proposition 87 brought together an unlikely alliance of Hollywood activists and Silicon Valley tech luminaries. The measure would have raised $4 billion by taxing oil extracted in California to boost research into alternative fuels and sales of alternative-energy vehicles.

The oil industry responded with a huge campaign to defeat the measure, which it said would raise gas prices. By Election Day more than $140 million was raised by anti- and pro-forces, smashing the spending record for a California proposition of about $100 million.