Proposition 87 defeated in California

Looks like dKos had the right numbers; Proposition 87 goes down in California, 55 percent to 45 percent. The Stanford Daily and the AP say this was to most expensive ballot initiative in state history. Proposition 87, as we've said plenty of times before, had serious Democratic support leading up to Election Day. And even thought Republican Governor Schwarzenegger won reelection handily last night against Democratic challenger Phil Angelides, there were plenty of Democratic gains in California yesterday. As Reuters put it: "Yet Schwarzenegger's charms did not translate into wider Republican victories in California: Democrats won all other state races except for insurance commissioner." And, of course, California Democrat Nancy Pelosi will now be the first female Speaker of the House in American history. But all these Democratic gains didn't help Proposition 87 in the end. So where does this leave alternative energy funding in the Golden State? And where does it leave oil companies?

[Source: Stanford Daily, Reuters]