SAN FRANCISCO — Gov. Arnold Schwarzenegger on Wednesday signed into law a sweeping global warming initiative that imposes the nation’s first cap on greenhouse gas emissions, saying the effort kicks off ‘a bold new era of environmental protection.’ Standing on picturesque Treasure Island with San Francisco’s skyline in the background, Schwarzenegger called the fight against global warming one of the most important issues of modern times. ‘We simply must do everything we can in our power to slow down global warming before it is too late,’ Schwarzenegger said during an address before signing the bill. Mayor Gavin Newsom and New York Gov. George Pataki, as well as Democratic legislators, joined Schwarzenegger for the high-profile ceremony. British Prime Minister Tony Blair, who struck a deal with Schwarzenegger over the summer to develop clean technologies, joined the ceremony via video link. Blair called the bill-signing ‘a proud day for political leadership’ and ‘a historic day for the rest of the world, as well.’ California’s efforts on global warming have been in the spotlight since Schwarzenegger and the state’s legislative Democrats reached an accord last month on the Democrat-authored bill to cut greenhouse gases. The negotiations culminated […]