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
- Rabid raccoons in Hanover raise ‘rabies season’ concerns - 0
- This week's Rare Bird Alert - 0
- Wounded during Gilford chicken coop raid, bear is euthanized - 3
- Epping dump cats left on their own - 47
- This Week's Rare Bird Alert - 0
- Animal rights group finds butterfly release at kindness rally kind of cruel - 10
- Bald eagle family takes up residence in Manchester - 4
- Auto dealership employees give stray parakeet new lease on life - 0
- Big Cat Coffees website accepts NH Humane Society donations - 0
READER COMMENTS: 23
- Updated: House votes to ban lead sinkers and jigs an ounce or under - 9
- Updated: Car may have started itself, crashes, burns at Manchester Home Depot - 5
- Threats at Goffstown High ‘not credible’ - 0
- Updated: House passes auto dealers bill of rights - 2
- Rochester man facing up to 30 years in prison for brutal assault - 1
- Man who confronts burglar in Nashua gets bit - 0
- Police say Nashua man struck woman with Jeep - 0
- Pease chosen to receive new KC-46A refueling tanker; to bring 100 jobs - 9
- FBI agent kills Florida man during questioning about Marathon bombing suspect - 3
License revocations for DWI announced
Consider Nevada: Gambling always expands