Proposition 87: Can California Tax Its Way to Clean Energy?

There will be 13 propositions on California's next ballot, plus local measures and countless races for federal, state and local offices. One of the propositions you're beginning to see TV commercials for and against is Proposition 87. With six weeks to go before the November elections, the pros and cons have already raised more than $80 million. Prop 87 would tax oil companies for every gallon of gas produced in California. The goal is $4 billion in ten years to reduce dependence on gasoline and encourage development of alternative energy sources. Oil companies would be prohibited from passing the tax to consumers but they claim that gasoline prices would skyrocket anyway. Can California tax its way to clean energy? We hear the pros and cons.