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: 0
- H.S. Football: Knight leads South past North - 0
- H.S. Football: Trinity, with all the trimmings, runs past Central - 3
- Unchained following 34 years, Thursday's Turkey Bowl is Paul Boucher's last game - 1
- Roger Brown's First & 10: Motivation aplenty for Central and Trinity in Manchester's annual Turkey Bowl - 3
- Martinez, Rodriguez lift Salem past Lawrence - 0
- Roger Brown's First & 10: On any given Thursday - 0
- Roger Brown's First & 10: Crimson glide - 0
- Roger Brown's First & 10: This year, No. 1 is a no-doubter - 1
- Roger Brown's First and 10: Concord proves it's the state's best - 1
READER COMMENTS: 0
- Dingman granted conditional parole - 3
- Suicide bomber, gunmen kill 52 in Yemen - 0
- Manchester gas station burglarized - 0
- Conn. tractor-trailer driver charged in Manchester hit and run - 1
- John DiStaso's Granite Status: Scott Brown to be in Londonderry tonight, says 'nothing is really changed' on political plans - 10
- Goffstown man held in Triangle Credit Union robbery, burglaries - 0
- 2 Bay State men arrested for Peterborough credit union robbery - 1
- Hudson man facing DWI charge after crash - 0
- Minimum wage rally at South Willow McDonald's - 12
Dingman granted conditional parole
John DiStaso's Granite Status: Scott Brown to be in Londonderry tonight, says 'nothing is really changed' on political plans