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
- On being American: A point for reflection - 13
- Pipes and plans: A chance to show up Mass. - 13
- Needing answers in Weare: The first step to accountability - 0
- Where terrorists win: The world's one 'kill Americans' zone - 6
- Expanding NH economy: Of energy costs, trains and clowns - 3
- Obama acts illegally: Shaheen parrots his talking points - 65
- Regulations must adapt: Cities cannot squash the new economy - 3
- Offend someone? To jail with you! - 22
- King Obama: Creating a constitutional crisis - 43
READER COMMENTS: 0
- Hamilton's OT goal wins for Bruins - 0
- Dowd's goal wins for Manchester - 0
- John Habib's City Sports:'Moment' is here: Derryfield CC renovation begins - 0
- Driver charged with DWI after mayhem on I-293 - 0
- Department of Employment Security sends confidential ID info to wrong firms - 0
- Day Three in the dark for many in NH - 0
- Man, 86, struck by car while crossing street in Manchester - 0
- Man allegedly tries to run over officer in Manchester, police van crashes while responding - 0
- Hot deals, warm shoppers - 0
Man allegedly tries to run over officer in Manchester, police van crashes while responding
Day Three in the dark for many in NH
Derry holiday parade to be held today
Hamilton's OT goal wins for Bruins