Steve Bing Wants Higher Oil Prices in California

The L.A.Times reports:

A Hollywood producer and a Silicon Valley investor have poured $2.1 million into their campaign to put an initiative on the November ballot that would finance alternative energy research by taxing crude oil produced in California.

Steven L. Bing, head of Shangri La Entertainment and a financial backer of the 2004 film "The Polar Express," contributed $1 million and Vinod Khosla, a Menlo Park venture capitalist and founding chief executive of Sun Microsystems Inc., put up $1.1 million, according to the initiative campaign's first financial report, filed Wednesday with the secretary of State's office.

Isn't so called "democracy" just great? A billionaire decides he wants higher taxes on everyone and tries to bring it to a vote.If Bing was so altruistic he could give his billions to the state of California to fund research.