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: 2
- Ban fireworks? Get serious - 12
- Praising freedom: While curtailing it - 16
- Fergus Cullen: No politics buffer zone - some want issue unsettled - 7
- The perfect winner: Mrs. Craig gives when she receives - 0
- A sacred rite denied: Partial justice in Marriott murder - 0
- Casino tax breaks: Bad news for Gov. Hassan - 4
- A medal well earned: Ryan M. Pitts is a hero - 3
- Treat them better: Bad medicine for veterans, military - 14
- Editorial: USNH’s freeze a good start - 3
READER COMMENTS: 0
- Speeding stop leads to drug and alcohol charges in Hollis - 0
- Allen Lessels on Motor Sports: Youngsters eye NHMS - 0
- Mark Hayward's City Matters: Manchester's bike culture shifts into high gear - 0
- Ignoring Lyme: What are state, towns doing? - 1
- Dave D'Onofrio's Sox Beat: Red Sox makeover underway - 1
- Tom Herzig's Trackside: MacDonald has NHMS track experience - 0
- Drew Cline: Scott Brown plans to win over NH one handshake at a time - 7
- Anthony M. Kay - 0
- Walsh paces Sweeney Post past Laconia - 0
132-mph street racers blow by trooper in Nashua, one of two arrested; motorcyclist arrested on I-93 doing 107 mph
Police say Manchester woman arrested for punching ex-boyfriend during custody exchange in Walmart parking lot
Mount Washington College to close 2 campuses
Bikers say under-30 generation isn't interested, and can't afford many of the top motorcycles
Ban fireworks? Get serious
GOP criticizes Shaheen over gas tax
Sentence fragment: Coco's cuckoo release
Ayotte calls again for FCC reform