Background: In 1990, the California Air Resources Board adopted regulations that, by 1998, mandate that 2 percent of the vehicles sold in California must be emissionless vehicles. The regulations further require that these "zero-emission" vehicles make up 5 percent of sales by 2001 and 10 percent by 2003.
Claim: As of Jan 1 1998: These regulations will have been formally abandoned, postponed, voided by the courts, rendered nonbinding, or weakened to require emissionless vehicle/miles less than the equivalent of 2% totally emissionless vehicles. This claim is to be resolved on the basis of the status quo as of Midnight, Jan 1 1998, not any subsequent legal or regulatory action.
Standard ambiguity clause: If the wording is found to be ambiguous I will judge on the basis of the obvious intent. If the intent is ambiguous I will judge on the basis of precise wording. If both are ambiguous or if both are clear but conflict, I will look for a solution that causes the least damage to FX as a market and game.
As of today (1997.04.20) these regulations have been formally weakened. A NO judgement will require additional regulation changes to become effective on the closing date for this claim, 1998.01.01.
