Wall Street Journal: Gov. Arnold Schwarzenegger was all smiles in 2006 when he signed into law the toughest anti-global-warming regulations of any state. Mr. Schwarzenegger and his green supporters boasted that the regulations would steer California into a prosperous era of green jobs, renewable energy, and technological leadership. Instead, since 2007 — in anticipation of the new mandates — California has led the nation in job losses. The regulations created a cap-and-trade system, similar to proposed …