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
- A Revolutionary War descendant became the paper's original 'tree hugger' - 2
- Newspapers save democracy, one edition at a time - 1
- Joe McQuaid's Publisher's Notebook: Bradlee, B.J. and a heavenly forgiveness - 1
- Government thinks it's your right not to know - 6
- No Columbus Day celebration, but we'll always have our Festivus poles - 3
- You don't have to be a kid to earn a time-out for your actions - 4
- Publisher's Notebook: Cigars, memories and bending phones - 0
- Diane Foley is a lady of extraordinary elegance - 0
- Not every human gets elected, but that chicken certainly pecked away at the legal system - 0
READER COMMENTS: 0
- Heavy, wet snow causes extended outages for Unitil customers - 0
- Osgood Road closed in Milford, 33% without power - 0
- PSNH says storm ranks as 4th largest for peak outage - 0
- Henniker police shoot suspect in truck heist - 0
- More than 200,000 New Hampshire customers without power - 1
- Thanksgiving travel a nightmare as storm dumps heavy, wet snow - 3
- Dave D'Onofrio's Patriots Notebook: Pats put selves in strong position - 0
- Manchester Turkey Bowl will go as scheduled - 0
- Red Sox think they got free agent signings right this time - 0
Person found dead in Manchester alley
On being American: A point for reflection
Your Turn, NH -- Mike Moffett: Republicans can win in 2016 with Kasich at the top of the ticket