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: 4
- City papers: A flawed right-to-know policy - 3
- Revenue raiser: An economic recovery, not a casino, is what's needed - 6
- Secret arrests? Not if we can help it - 6
- Process and law: Foster's questionable circumvention - 3
- The courage of Boston: The courage of America - 1
- Downhill: Obamacare vs. ski areas - 24
- 'He is risen': 'As he said' - 1
- A cellphone ban: Ignoring inconvenient data - 11
- City budget talk: How about solutions instead? - 2
READER COMMENTS: 0
- Hooksett police charge local man in several BB gun complaints - 0
- Fire destroys Weare home - 0
- High winds cause power outages, fan fires across state - 0
- Downed wires spark brush fire that spreads to Manchester house - 0
- Fugitive nabbed as he checks out the weather - 0
- Bail set for TD Bank robbery suspect in Derry - 1
- Fetal homicide bill stopped in the Senate - 0
- Democrats worry about 'dirty tricks' - 0
- Truck pulls down power line, starts paint store blaze - 0
Younger of two brothers convicted of murdering parents quietly released after 18 years in prison
Michigan’s ban: Sotomayor’s ‘disadvantages’