Home » Opinion » Editorials
RGGI's ruse: It's not for the environment
Hassan's spokesman said later that she did not think RGGI was a tax, but an energy efficiency program. That's a shame, because she was right the first time, it is effectively a tax - which its supporters want to increase.
RGGI caps carbon emissions from power plants in the 9 states, including New Hampshire, that have signed onto the agreement. Energy companies can exceed those caps by buying emissions credits, which are sold on an open market. Last Thursday RGGI officials, including the two New Hampshire representatives, announced that they want to cut the allowable carbon emissions under the agreement by 45 percent by 2014. They say the reduction will bring cleaner air.
Yet there is a surplus of RGGI credits on the market. RGGI states are not producing enough power to reach the current emissions cap, so demand for the credits is low. Instead of declaring success (carbon emissions under RGGI were 30 percent lower in 2011 than in 2005), RGGI wants to lower the cap to stimulate demand for emissions credits. Why would it want to do that? For the money.
RGGI states pocket money from the sale of the credits. The estimated increase in RGGI revenue from the 45 percent reduction in allowable emissions is $2.2 billion. That is money taken from electricity ratepayers and delivered to politicians, who distribute it allegedly on behalf of the people from whom it was taken. In other words, it is a tax.
Rather than participate in this scam, New Hampshire should withdraw and save its ratepayers the unnecessary expense of giving politicians a few extra billion to play with.
READER COMMENTS: 6
- Electronic benefits: Sin and the EBT card - 2
- ‘Legislative cocaine:’ Gambling and state revenue - 3
- Minimum wages: Maximum spin - 14
- A CIA bombshell: Feinstein and the Fourth - 1
- Supervised visitation: The metal detector problem - 1
- Charter cap trap: A restriction to repeal - 0
- Taken for a ride: Hooksett’s Pinkerton deal - 4
- Bedford’s road bond: A good deal for a big fix - 1
- Legislative ethics: NH way works better than most - 0
READER COMMENTS: 0
- College Hockey: Northeastern wins in OT, forces Game 3 with UNH - 0
- NHGOP: Rand Paul wins straw poll - 0
- Pembroke voters OK clock tower face-lift - 0
- Bath Iron Works gets nod for fifth destroyer - 0
- Groveton backs 'Plan B' for town office project - 0
- Dartmouth under fire for response to incidents of rape on campus - 0
- NH hospital personnel to train for disasters - 0
- Obama's national security aides meet to discuss Ukraine - 0
- Radio host wants official's lawsuit dismissed - 0
Dick Pinney's Guidelines: Online license purchases prove user unfriendly for some hunters and anglers
Auburn native believes in faith and fashion
NHGOP: Rand Paul wins straw poll
Snowmobiler dies; 4th fatality of season
Bath Iron Works gets nod for fifth destroyer
Charles Krauthammer: How to handle Putin