The Regional Greenhouse Gas Initiative

On Tuesday I attended a presentation by Americans for Prosperity at the West Bergen Tea Party meeting. The speaker discussed the Regional Greenhouse Gas Initiative (RGGI) which New Jersey joined in 2007. This program is a cap and trade system for limiting carbon dioxide emissions. It requires owners of coal, oil, and natural gas power plants to buy emission permits for every ton of carbon dioxide that they release into the air. The State of New Jersey collected $65 million through RGGI in 2009. Rather than use these funds on carbon sequestering programs, Governor Christie put them into the general state coffers. RGGI raises energy prices to fund our government's fiscal irresponsibility. It is time for New Jersey to withdraw from RGGI.