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
- Manchester's Holy Family Academy named School of Excellence - 0
- Weare teen to compete in Bible bee - 0
- More churches reporting scam - 0
- Bishop of Rochester, N.Y., will be homilist for annual Red Mass - 0
- Religion Briefs: Divorce and separation support group meets in Goffstown - 0
- Annual dedication of Starr Memorial Garden scheduled - 0
- Bethany Covenant Church in Bedford celebrates 125 years, looks toward future - 0
- Season of Epsom Bible Church AWANA Clubs to begin - 0
- St. Michael's church in Exeter to offer financial course - 0
READER COMMENTS: 0
- Scots spurn independence, vote to stay in the United Kingdom - 0
- Roger Brown's First and 10: Answers forthcoming - 0
- NHMS chief Gappens is on board with the Chase changes - 0
- Another View -- Ben Rose: How NH's John Stark helped defeat the British at Saratoga - 0
- Celebrating Claremont: A 250th birthday party - 0
- Trashed lunches: Brownies, broccoli and bucks - 7
- Hampstead's Suess ready for Whelen Modified race - 0
- College Football: Big Green kick off season vs. Cent. Connecticut - 0
- Son says shooting of mom during DEA raid was a mistake - 14
Supporters eager for Hillary's return to NH
Mark Hayward's City Matters: Dean Kamen is a genius inventor, and he's pretty good at oratory, too
Casino gambles: Hopes dashed all over
Ayotte pushes bill to combat 'spice'