Peterborough, New Hampshire [RenewableEnergyAccess.com] Proposition 87 — which would have imposed an extraction fee on oil company drilling in the State of California — was defeated at the polls 45 to 55 percent on November 7.The Clean Energy Initiative would have raised up to $4 billion through the fee to help fund renewable energy and energy efficiency programs in the state. It was endorsed by a coalition of environmental and public health organizations, as well as leaders like President Clinton and Vice President Gore. “Oil companies spent nearly $100 million trying to convince California voters that collective suicide is a good idea. Unfortunately, they were successful,” said Adam Browning, Executive Director of the Vote Solar Initiative. Opponents of the bill argued Prop 87 would result in higher gas prices and create a greater dependence on foreign oil; which would have placed an additional strain on school districts and municipality transportation budgets throughout the state.