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: 3
- Six NH Air National Guardsmen off to Kuwait for 6 months - 1
- For one NH soldier returning from Afghanistan, a special greeting - 2
- More than 100 NH Guardsmen returning from Afghanistan - 0
- New Hampshire armories are running out of room - 0
- Pease Greeters continue to gather for troops in transit - 10
READER COMMENTS: 0
- John DiStaso's Granite Status: Shaheen among speakers at Senate Dems' climate change 'talkathon' - 1
- Sheriff, chief question Shaheen’s recent vote on controversial Obama nominee - 0
- Low turnout seen in early Lakes Region polling - 0
- Goffstown residents slow to vote so far - 0
- Dover police convince local man to go to hospital for evaluation - 0
- Milton residents considering big issues at the polls Tuesday - 0
- Bedford man sentenced for lobster trap thefts - 0
- Voting is not just for adults in Windham - 0
- Voter turnout is low but steady in Bedford - 0
Taken for a ride: Hooksett’s Pinkerton deal
John DiStaso's Granite Status: Shaheen among speakers at Senate Dems' climate change 'talkathon'
Manchester schools project budget surplus