Home » Opinion » Editorials
Carbon fantasy: Don't hike the RGGI tax
RGGI is a pact in which the New England states and three others agree to limit carbon emissions by law. The states then sell to power producers credits that allow those producers to emit specific amounts of carbon. Producers thereby pay for their emissions, giving them an incentive for reduction.
The current RGGI emissions cap is 165 million tons a year. The RGGI states are producing nowhere near that much carbon - not because of RGGI, but because of the marketplace. Cleaner-burning natural gas is cheaper than coal, and a big movement to gas in the past several years has reduced emissions. So has the economy. Less economic activity means less demand for power.
All of this means that the states don't have the RGGI windfall they desired.
Those emissions credits meant big bucks for states, which would then spend the money on energy efficiency projects. With little demand for the credits, the price for them has fallen, and states are out millions. But politicians always have plans for obtaining the cash they want to spend.
The RGGI states want to lower the carbon emissions standards from 165 million tons a year to 91 million. Why? To raise the price of the credits.
This will further increase electric utility rates, which RGGI boosters acknowledge. But it won't have any noticeable impact on the climate. India, China and other growing economies are belching out so much carbon that any reduction caused by RGGI limits will be overwhelmed. We will pay higher rates not to cool the planet, which this change will not cause, but to give the states bigger "energy conservation" slush funds.
The state Senate's Energy and Natural Resources Committee has approved the bill to authorize this RGGI change. It already has passed the House. The Senate is the only hope for avoiding this rate-hiking scheme. Senators should do their jobs and protect New Hampshire residents from this needless tax increase.
READER COMMENTS: 0
- Granite Staters set sights on Quebec pilgrimage - 0
- Pope begs forgiveness for 'sacrilegious cult' of Church sex abuse - 0
- Sudan releases Ibrahim, but insists she stay there - 0
- Emergency preparedness class offered for churches - 0
- Music minister Grinnell leaving First Congregational Church - 0
- Bishop makes changes to Diocesan leadership structure - 0
- Meriam Yehya Ibrahim, children being held again in Sudan - 0
- Colebrook shrine known for 'Blessing of the Bikes' closing July 1 - 1
- Reports say Sudan to release sister-in-law of NH man - 1
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