New Hampshire standing up to secretive RGGI cap and trade deal

Article doesn't mention outside parties who make money and how much on trading of RGGI offsets, ie company names, the exchange handling the trades, and stakeholders, such as NRDC. RGGI regards all this as secret. The second half of the article mentions RGGI was not meant to be permanent and should be looked into as any government program. The first half of the article is given over to the side with which AP sympathizes, ie cap and trade. It doesn't mention that US energy demand has declined anyway due to dramatic economic downturn.

2/10/11, "Bill would repeal New Hampshire cap-and-trade law," AP, Forbes.com

"Last year, New Hampshire raided its (RGGI) fund [the taxes raised from it] to help pay for other state spending - a move (NH Gov.) Lynch supported and defended by saying the overall goal of reducing energy demand was being met through a mix of state and federally funded programs.

The repeal bill's prime sponsor, Republican state Rep. Richard Barry of Merrimack, said his main concern was government's involvement. He also criticized its funding source.

• "RGGI is a stealth tax that never shows up. It's hidden on your electric bill," he said.

State Rep. Andrew Manuse, a Derry Republican and bill co-sponsor, argued the law is hurting, not helping New Hampshire's economy.

"Even if carbon dioxide emissions are a problem for the environment, the regional greenhouse gas initiative has simply not impacted the overall reduction of emissions, yet it has had and will continue to have a

• significant negative impact on the economy," he said.

Any benefit from New Hampshire's emissions reductions is nullified by

• growing emissions in other countries, he said.

State Air Resources Director Robert Scott testified that the program was never intended to solve the climate change problem. When the program was established, the Legislature intended for it to be revisited to see if it was working, he said.

• "It was a beginning," he said.

Environmental groups including the New Hampshire chapter of the Sierra Club and Environment New Hampshire are urging the bill's defeat as is House Democratic Leader Terie Norelli."

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Reference: "The secrets 10 (RGGI) states and Wall Street don't want you to know," by Mark Lagerkvist, NJ Watchdog, 7/28/10

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5/26/08, Carbon offset abuse, UK Guardian

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via Tom Nelson