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: 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