Associated Press: A ballot initiative primarily funded by Texas oil companies seeking to suspend California’s landmark climate law has failed. Proposition 23 would have delayed greenhouse gas regulations until California’s unemployment rate fell to 5.5 percent and stayed there for a year. Unemployment in California is now at 12.4 percent. Gov. Arnold Schwarzenegger, environmentalists and Silicon Valley entrepreneurs had warned that passing the initiative Tuesday would derail a growing investment in alternative-energy…