New Jersey announces intent to pull out of RGGI cap and trade – Christie strikes major blow

In a press conference moments ago in Trenton, Gov. Christie announced his support for repealing the state’s cap-and-trade law and withdrawing from the Regional Greenhouse Gas Initiative (RGGI), a 10-state regional compact in the Northeast that implements a cap-and-trade energy tax scheme from Maine to Maryland.

“It’s a failure,” Christie said today. “RGGI has not changed behavior and it does not reduce emissions.”

He is absolutely right, and the implications are huge – especially considering that the architect of RGGI was Lisa Jackson, who once was New Jersey’s director of the Department of Environmental Protection under Gov. Jon Corzine, and is currently Obama’s administrator at the federal Environmental Protection Agency.  Jackson is now conspiring with Obama to disregard Congress, the American people, and the last national election to implement cap-and-trade like policies through a regulatory back door.

With Christie’s fabulous leadership, New Jersey will be out of RGGI by the end of the year, punching a huge hole in the middle of the regional scheme, lending momentum to burgeoning repel efforts in New Hampshire, Maine, and New York, and leading, perhaps, the final and total end of cap-and-trade as a politically viable concept anywhere in the United States.

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65 thoughts on “New Jersey announces intent to pull out of RGGI cap and trade – Christie strikes major blow

  1. “..lending momentum to burgeoning repel efforts in New Hampshire, Maine, and New York, and leading, perhaps, the final and total end of cap-and-trade as a politically viable concept anywhere in the United States…”

    Naaa…I live in California and see no hope to see this go away any time soon in the foreseeable future.

  2. Thank You Gov. Christie!
    ‘And another one gone, and another one gone, and another one bites the dust – Yeah!’

    If there are any WUWT fans in New Jersey, I urge you to communicate directly with Gov. Christie’s staff and help educate him better about natural climate change and the fallicies associated with atmospheric CO2. It is always received with greater attention, when information is provided by residents of a politician’s home district or home state!

  3. Yep. Not that I credit Christie with much except dumping Jon Corzine out of Drumthwacket on his Goldman Sachs bankster butt, but North Jersey Republicans are capable of being right every now and then on the “stopped clock” principle.

  4. Even though he wants to get rid of cap and trade in his state, he is pro AGW. This doesn’t look good for America if he is the golden child of conservitism.

  5. Sounds like he’s still drinking the AGW koolaid, just not buying Cap’n Trade. It’s a start, but not much.

  6. Christie has more than enough on his plate just fighting the public unions. No need to take a stand on AGW right now other than to get out of RGGI. A bit disappointed about the offshore wind BS but that’s off in the future.

    Just wish we had Christie here in California. We need him.

  7. Hurrah!
    Is it too early to hope that we are seeing the beginning of the end of global warming foolishness?

  8. A brilliant outbreak of common sense over mass hysteria.

    He’d make a great POTUS . . . just saying.

  9. Governor Christie seems not to understand the difference between correlation and causation. He must have been an interesting prosecutor. But, most people don’t either. It’s probably good that he bailed because RGGI was a failure, because people
    WILL understand that.

  10. Nah, I’m disgusted. The whole “wind”, “solar” BS. The “there will be no more coal power plants in NJ, ever” BS. I hope he’s just playing to the crowd, but the “experts” he’s been discussing this with are, I’m willing to bet, ALL on the pro-AGW side/agenda. I had great hopes for the man, but this puts a bitter taste in my mouth. He made his reasons for pulling out of RGGI entirely on economic terms, as a conservative should, but then followed it by stating that NJ had already met its goals for GHG emissions under RGGI and that the market was a better cudgel to use than RGGI anyway.

    Thanks, but no thanks. Come on Christie, throw the BS flag!

  11. It’s good that NJ will bail out of the ill-advised and wrong-headed RGGI, but Gov. Christie’s announcement is a huge disappointment for those of us who thought he was smart enough—after “months” of study and review, no less—to understand that the claim that “90% of scientists” think that anthropogenic CO2 causes global warming is fatuous propaganda, and that it doesn’t, not in any measurable amount.

    Clearly he is not smart enough.

    It was also dismaying to hear that he wants to ban any new coal-fired power plants, because they produce the most CO2, and that he’s going to promote off-shore wind farms, which will just raise electric rates astronomically.

    I like his tough stance on public-sector unions, but please, Gov. Christie, stay out of the Presidential race!

    /Mr Lynn

  12. Just wish we had Christie here in California. We need him.

    We have the Anti-Christie. We have the guy who was probably Jon Corzine’s role model.

  13. Unfortunately, he isn’t aware that CAGW is a scam. But he could be educated. Not every legislator can be expected to understand this issue, but the GOP is learning.

  14. Agree w/Bob Johnston. Christie is smart enough to know the “carbon” issue is bogus. But plenty of his constituents aren’t that smart. He’s a politician, and that means he’s always calculating the vote. Always.

    Christie won’t run against Obama because it would be uphill, with all the major media rooting as one for The One. And Obama has Air Force 1 & 2 always at his disposal. He doesn’t have a boss, and he can campaign and fund raise 24/7/365. He can manufacture news whenever he wants. IMHO, Christie would have a good chance of winning anyway – but Christie has a much better chance in 2016.

    So Christie is playing the right odds. The fly in the ointment for any politician, though, is the fact that six months is a lifetime in politics, and in five years anything could happen to make Christie irrelevant. Or anyone else, for that matter.

    I would love for someone of Gov. Christie’s stature to forcefully state that the “carbon” issue is simply a racket, and explain why. But he’s a pol, and telling the truth to that extent wouldn’t be good for his numbers.

  15. I would give Christie a little slack here. It’s not a complete abandonment of AGW but it is a big practical step away from it. I’ll speculate that he has enough self-knowledge to recognize that he doesn’t know enough science, and he sure doesn’t have time to learn it (particularly when mobbed by special pleaders of all kinds). So his private view may be skeptical of AGW theory. But what matters to a politician is not theory but practice. What will get him elected, what will build his political capital so he can get his agenda through? Things that please voters and build (or don’t burden) the economy. He wants jobs, he wants less (or well-focused, value-delivering) government. I bet he calculated that RGGI was a loser all around: it cost money to be in that club, it bought him no credit except with a tiny base of lefties whose votes he’ll never get, and increasingly it was hurting industry and would be an albatross in his next campaign. So he turned it around. Good-bye to lost money and focus and votes. Hello to a media-catching bold act that allows him to talk about his positive agenda. As for AGW? He will wait and see. …That’s my interpretation. And we’ll have to wait and see!

  16. While RGGI seems to be getting all the attention in NH and NJ, renewables (RPS) is much more costly forcing us to buy power at 3-10 times the cost of gas generation.

  17. Notes from the press conference [personal comments are in square brackets]:

    Withdrawing because:

    1) RGGI not meeting the expected allowance cost of $20-$30 a ton originally envisioned. Current auction rates are less than $2.00 at the auction floor
    price [$1.89 this year].

    2) NJ CO2 emissions are below the 2020 target. [I suggested the NH legislature should declare success, and say we don’t need RGGI any longer. Doesn’t seem to have registered.

    3) Other laws passed post RGGI specifically target development of renewable energy. [I hadn't thought of that angle, I rather like it.]

    4) RGGI is essentially a tax on electricity producers and passed on to the consumers.

    RGGI has provided no measurable environmental improvement. Since [neighboring] Pennsylvania is not it RGGI, it’s conceivable that their dirty coal plants could put NJ’s clean natural gas and other plants out of business.

    NJ will withdraw by year’s end. [Like NH's bill, Christie noted it coincides with the end of the first three year "control period." Allowances are good for the control period they're assigned to and become worthless if not spent.]

    There will be no new coal plants in NJ. Christie referred to them as dirty.

    NJ will become #1 in offshore wind energy. [Umm, Okay. We'll be watching.]

    [The recording ending before the end of the press conference. Grr. I may look for more.]

  18. People, did you listen to what Gov Christie said? He sounded just like Obama. No new coal plants in NJ and big push for offshore wind farms. He just cut ties with RGGI, he is not anti-AGW.

    If this is a win for us skeptics, it is but mere chance!

    Watch the video, listen to his words, and pray he wises up soon!

    Bill

  19. May I suggest a fire sale for all their solar panels that made them almost as popular in New J as in California.

  20. oMan makes some good points. I’d like Christie to get in the media’s face, but in a Democrat state like NJ he’s walking a fine line. If he was governor of Texas he could be more candid.

    Bill Yarber, he didn’t really sound just like Obama.

    And Sonicfrog coins: “the anti-Christie”. Kudos! You get a gold star.☺

    [Finally, I'd like to point out that one of Anthony's blogroll stars is really on a roll this week: click]

  21. “lending momentum to burgeoning repel efforts in New Hampshire, Maine, and New York”

    Sadly, those repeal efforts are not burgeoning. From my http://wermenh.com/rggiwatch/index.html May 11 wasn’t a very good day:

    # May 11: Delaware’s House Energy Committee tables their get-out-of-RGGI bill so it won’t be considered by the full house.

    # May 11: Maine rejects their get-out-of-RGGI bill and reaffirms an original condition to Maine’s participation in the program – specifically that New England states producing a minimum of 35 million tons of the annual carbon dioxide emissions budget must continue to participate in the program.

    # May 11: The NH Senate’s full membership voted for HB 519-FN, 15-9.
    And apparently next voted 16-8 for Jeb Bradley’s amendment (really his replacement) that keeps the state in RGGI, but cancels much of its impact.

    16 votes are needed to be able to override an expected veto from Gov. Lynch. (It has to go through the Senate Finance committee, a house/senate conference committee and maybe a couple others first.)

    # May 5: The NH Senate’s Energy and Natural Resources committee voted down HB 519-FN, 3-2. This gives the bill an “Inexpedient to Legislate” tag, but the bill continues the legislative process. It will next go to the senate’s Finance committee, back to the Energy and Natural Resources committee, and then to the full senate.

    One thing the committee considered was an amendment introduced by Sen Bradley that rewrote the enitre bill. It removes much of the controversial funding of various groups, training, and insulation subsidies, leaving only some money for the “core” energy efficiency programs and funds it with $1.00 of the money received from each carbon allowance sold. (Currently a minimum of $1.89.) The remaining money will be given to ratepayers on a per-kwh basis.

    It also changed the withdrawal trigger from the end of the year to when states representing 10% or more of the RGGI allowances leave RGGI. Apparently that was changed to just the New England states, but I’m not clear on the details. Apparently Sen Bradley withdrew the amendment saying it wasn’t ready. Without Bradley’s amendment there may not be enough support for the bill in the full senate, or at least, not enough to provide a veto-proof majority.

    My testimony for the hearing is at http://wermenh.com/rggiwatch/enr_testimony.html .

    The NH (New Hampshire, not Northern Hemisphere) House tagged RGGI repel as one of their key goals and hence are not keen on Sen Bradley’s amendment. They are trying to attach the original bill to other legislation. Law making is like making sausage. I’m not fond of these sorts of tactics, and this sausage has rotten meat. Things are sufficiently confused so I haven’t written a new post on recent NH activity, I’ve just dropped notes in Tips and Notes.

    I’m not sure how the NJ new will play in NH. Maine will likely ignore it and remain in their RGGI embrace. The bill to get out was entered more to stimulate discussion than be a serious attempt at repeal.

    I could see Delaware untabling their bill.

    One curiosity about NJ’s withdrawal is that Delaware and Maryland will no longer share a border with the remaining RGGI states. I’m not sure what that means. Well, it may be obvious – they’ll just buy power from those dirty coal plants in Pennsylvania and clean plants in NJ (if that offshore wind energy works.)

    The next quarterly allowance auction is in mid-June, with allowances being offered for both this control period and the next. There will be zero demand from NJ for the next period (2012-2014). There will be a demand for at least 10% of the current period, but it may not much higher than that. I would expect electricity providers should have nearly all the allowances they need for this year.

    I’ll likely write up a summary of the next auction, there will be interesting aspects even though the auction price is virtually certain to be $1.89, the floor price.

  22. From http://www.examiner.com/essex-county-conservative-in-newark/rggi-nj-body-blow-new-jersey-out

    Several New Jersey Senators and Assembly members have proposed to take New Jersey out of RGGI. But Christie could always get out. Staying in RGGI is voluntary; so says the MOU. That means that the other nine States can’t sue New Jersey to keep it in. (No State has even talked about that.) [Hmm, I had assumed it would take legislation to withdraw. This confirms my suspicion that the NJ legislature had voted its way out and that Christie was able to do this on his own. The next governor could put NJ back in just as easily, I assume (unless that counts as levying a new tax).]

    Furthermore, the program is unconstitutional. The US Constitution forbids any State to enter into any multi-State compact unless Congress lets it. No federal law says that any State must or even may form such a compact. [I've heard this argument, I guess people haven't felt they've had the financial backing to prosecute it. Besides, Congress could allow it maybe not this year, but possibly before litigation was finished.]

  23. As an AGW proponent, I was pleasantly surprised by Christie’s remarks. I favor RGGI, but I’m prepared to approach it with an open mind. If RGGI really isn’t reigning in greenhouse gases, let’s dump it. Christie is courageous in banning new coal-fired plants from his state and seeking to enhance renewable sources of energy.

  24. Smokey says:
    May 26, 2011 at 6:37 pm
    Agree w/Bob Johnston. Christie is smart enough to know the “carbon” issue is bogus. But plenty of his constituents aren’t that smart. He’s a politician, and that means he’s always calculating the vote. Always. . .

    I would love for someone of Gov. Christie’s stature to forcefully state that the “carbon” issue is simply a racket, and explain why. But he’s a pol, and telling the truth to that extent wouldn’t be good for his numbers.

    Nuts. Gov. Christie’s appeal (to conservatives, anyway) is based entirely on his reputation for straight-talking, not pandering to voters and polls. If he’s hewing to the orthodox Alarmist line on “greenhouse gases” and “climate change” just in order to be politically safe, then he’s not the straight-shootin’ character he’s pretended to be.

    I suspect he’s either bought the Alarmist theology because he’s been hoodwinked by all those advisors he claims to have consulted, or because he’s not nearly as smart as everyone thinks he is, or both.

    /Mr Lynn

  25. PS, re Smokey’s “I would love for someone of Gov. Christie’s stature. . .”

    I’ve been arguing for years that what would drive a fatal stake into the Watermelon movement’s heart would be for a prominent leader to come out and declare that “global warming” is a fraud. I tried to convince Mitt Romney’s people of this back in ’08; never even got a response.

    Maybe Sarah Palin will have the guts to stand up to the High Priesthood of Climate Change. Somebody has to.

    /Mr Lynn

  26. He’s right to end it, but he’s still stupid enough to listen to the 90% (all 73) scientists that say man is causing global warming. I just decided based on that info that I hope he doesn’t run for president.

  27. I doubt that he does accept AGW but it would be too much to say so right now. One step at a time.

    Also doubt very, very much if he will run in 2012.

    I hope Rick Perry, Gov of Texas does. He has all the right stuff and could win. In any case, given what slimey low-life liars the Obamites are, this campaign is going to be too ugly for words.

  28. There is not such figure “90%”, the number is 97% based on one of two bogus studies,

    1. The Doran paper claims a bogus “97%” which is only 75 out of 77 subjectively cherry picked “specialists” or 2.4% of the 3146 who participated in the survey out of 10,257 Earth Scientists who were sent an invitation.

    2. The Anderegg paper is based on Google Scholar illiteracy and worthless.

    So long as he does not prevent Natural Gas or Nuclear, preventing coal is playing to the eco-idiots. The offshore wind is emotional nonsense.

  29. Fortunately there is no affordable green solution to replace coal by a long shot.

    Green solutions apart from not being solutions are not green at all.
    Wind only mills 15.4 % max of the rated capacity and this is the high number.

    The amount of steel, composite and rare earth resources necessary for it’s construction is flabbergasting, all consuming huge amounts of oil, cokes and resources.
    Conventional power plants are needed for 100% of the installed wind capacity resulting in sky high electricity bills.

    A healthy economy is based on cheap energy.

    Without it we’re losing a big part of our middle class, jobs and buying power.

    A green economy is a poor economy.

    Unfortunately fact don’t count these day’s and stupidity rules.

    Good luck with that.

  30. I think the gov. did what he needed to do. A total rejection of AGW would destroy his credibility with a good portion of his constituency. He accomplished what needed to be done without opening himself up to denunciation as a flat earther. He doesn’t need such distractions right now, and he is after all a politician who knows how to shuck and jive as needed. He likely realizes that AGW will go away eventually anyway, and since it is not his field, he is wise to avoid taking sides. He might not have lived up to his straight shooter, no holds barred reputation, but AGW is not his area of expertise.

  31. Great work Governor!

    Let’s take this brilliance to Washington and defund the EPA.

    And defund the Department of Education too.

  32. This will get picked up by the Australian media. The Australian government has been pointing to ’10 US states’ as an example of an ETS. It looks like this system will collapse with one or two major players exiting. The price collapse to below the price floor is bad enough.

    The more these schemes collapse under their own weight, the better. There is not an effective cap and trade scheme anywhere in the world, and the only countries that have achieved lower emissions is either because of Nuclear Power or recession. The former is OK but the latter isn’t.

  33. “Mr Lynn says:
    May 26, 2011 at 6:20 pm
    It’s good that NJ will bail out of the ill-advised and wrong-headed RGGI, but Gov. Christie’s announcement is a huge disappointment for those of us who thought he was smart enough—after “months” of study and review, no less—to understand that the claim that “90% of scientists” think that anthropogenic CO2 causes global warming is fatuous propaganda, and that it doesn’t, not in any measurable amount.”
    —————-

    I don’t care what 90% of ‘anybody’ thinks…….90% can’t prove CAGW.
    From what I’ve read …… nobody can.

  34. This appears to be a classic case of “doing the right thing, but for the wrong reason.”

    From the video, Gov. Christie exposes himself as a committed pro-AGW, Cool-Aid drinking believer. To all of you calling on him to run for U.S. president, I have only one question, “Why?” How would he be any better that Obama? He can only be worst. If Christie becomes president, we have a Republican president out of step with a Republican House of Representatives. The pro-AGW President will encourage the House of Representatives to bend to his desires. This means BAD laws will be created, all because one this pro-AGW governor inadvertently got one AGW related issue right.

    We cannot count on him to be “coincidentally” correct again.

  35. This has punctured the project fatally.
    If Jersey don’t go with Cap’n Trade try and imagine western or midwestern states signing up for it!

  36. Since Christie was elected I have been incredibly concerned about his position on energy and the environment. Getting NJ out of RGGI is very reassuring. So far his environmental positions have been more posturing to placate the eco-nuts. As for those wanting him to run for president I agree he should not run (for various reasons) but for NJ he has so far been more than I could have dreamed of as a Governor who actually got elected. I had almost lost all hope on my state. This is another victory, thank you Governor Christie.

  37. Unfortunately, we are still stuck with the idiotic wealth transfer tax plan to pay for solar panels, etc. My electric rates went from about $0.12 per kWh to around $0.18 per kWh. Its almost cheaper for me generate my own electricity at this point!

    The increase was largely due to SREC program: Energy credits paid for each MWh of electricity generated by a solar array. Those credits can be hundreds of $$$ per MWh, which pays for the panels. Of course, its the rate payers that is the ultimate source of the energy credits.

  38. hell_is_like_newark,

    The average NJ citizen is an idiot and just blames the electric utility every time their bills go up. The all delusionally believe in wind and solar too, it is like talking to the wall.

  39. TomB says:
    May 26, 2011 at 6:06 pm

    Nah, I’m disgusted. The whole “wind”, “solar” BS. The “there will be no more coal power plants in NJ, ever” BS.

    If I look at the ‘delivered price’ of steam coal in New Jersey I wouldn’t even consider building a coal fired plant. New Jersey has the highest ‘delivered’ price for steam coal in the US.

    http://www.eia.gov/cneaf/electricity/epm/table4_10_a.html

  40. Climate progress claims this move is under Koch pressure. Koch had nothing to do with the state being short of cash. Climate progress is closing and will be a side bar in the Soros blog Center for American Progress.

  41. Poptech says:
    May 27, 2011 at 6:02 am
    hell_is_like_newark,

    hell is basically newark with less crime.

  42. hell_is_like_newark says:
    May 27, 2011 at 5:49 am
    Unfortunately, we are still stuck with the idiotic wealth transfer tax plan to pay for solar panels, etc. My electric rates went from about $0.12 per kWh to around $0.18 per kWh. Its almost cheaper for me generate my own electricity at this point!

    The increase was largely due to SREC program: Energy credits paid for each MWh of electricity generated by a solar array. Those credits can be hundreds of $$$ per MWh, which pays for the panels. Of course, its the rate payers that is the ultimate source of the energy credits.

    Yes. The SREC proces in NJ are like 700$/MWH ( ie. 70c/kwh ). in the rest of the country it is like 250$/MWH ( like 25c/kwh ). so, it is predominantly a wealth re-distribution program….. when this was created, Lisa Jackson was in DEP-NJ, as a driver of that extraordinary pricing scheme. I

  43. i keep hearing complaints about coal power plants in NJ.

    It does not matter who the Gov is and Who the Prez is and which party runs the state and feds ( NJ & US ), there will not any new coal power plants in NJ. This has nothing to do with CAGW. It has to do with a state that has 8.5 million people living in the land the size of 7400 sq miles ( 4th smallest state) and land cost up the wazoo, and pollution control devices needed being so high, it is better to site them in PA and OH. and that is what they do. The only kind of power plants that are cost effective in NJ are NatGas CoGen plants.

  44. BradProp1 says:
    May 26, 2011 at 7:37 pm
    He’s right to end it, but he’s still stupid enough to listen to the 90% (all 73) scientists that say man is causing global warming. I just decided based on that info that I hope he doesn’t run for president.

    He made the decision to drop out last year. But the NEA fight was lot more important. the 90% number is just pure baloney. he talked to a a few Profs at Rutgers Engg to get a cover. he got it. they said CAGW is both natural and anthropogenic. That was enough for him to give the “drop-out of RGGI” speech. as for off-shore wind there is no money, unless they decrease the SREC payments…. so, one wasted boondoggle into another.

    living in New jersey we are used being treated like turds that we are.

  45. Ric Werme says:
    May 26, 2011 at 7:22 pm

    Ric,
    My guess is that the dems are fully expecting the assembly and senate to start a new bill to rejoin RGGI, so the GOP will be forced to take a position and Christie will VETO. They need it for the nov. 2011 assembly/senate election. as for the taxes and costs…. NJ state govt does not give too hoots.

  46. Ric Werme says:
    May 26, 2011 at 6:48 pm
    Notes from the press conference [personal comments are in square brackets]:

    =======
    Thanks Ric,
    Banning coal and building wind farms bugs me but generally positive news. I hope Gov. Brown can be a level headed about the situation.

    Here’s CATO’s take on “Green” energy — about 15 minutes in length but [IMO] worth the time:

  47. Mr Lynn says:
    Maybe Sarah Palin will have the guts to stand up to the High Priesthood of Climate Change. Somebody has to.

    I disagree. What is needed is to lead the ‘green’ charge full bore off the inevitable cliff.

    On this, as in much of a political nature (as this debate has become), I think that any ‘gains’ we make now are merely temporary, and will be reversed once again over time. The only real hope I see for any lasting sanity is to follow the path through total breakdown first. Otherwise, we’re back where we were after the next election cycle.

    Painful, yes. But unfortunately necessary.

  48. So, he’s pulling out of RGGI because the price of $2 per ton “is not enough to change behavior”. Taken with everything else he said, how does a skeptic see this as a victory?

  49. nandheeswaran jothi says:
    May 27, 2011 at 9:22 am

    He made the decision to drop out last year. But the NEA fight was lot more important. the 90% number is just pure baloney. he talked to a a few Profs at Rutgers Engg to get a cover. he got it. they said CAGW is both natural and anthropogenic. That was enough for him to give the “drop-out of RGGI” speech. …

    That appears to be the case. http://blogs.discovermagazine.com/intersection/2011/05/27/chris-christie-defers-to-the-experts-on-climate-change/ says “Yesterday, he announced that he has changed his position. I’m not sure what science has been done in the last 6 months to convince Governor Christie to make this change. As far as I know, the science today is exactly the same as the science then. Regardless, Christie recently met with two expert scientists, Ken Miller, a geologist with long experience documenting sea level changes, and atmospheric science Anthony Broccoli, both from Rutgers University. I guess all politics (and now science) is local. After holding these meetings, the Governor has apparently seen the light and has decided to defer to the experts on this controversial issue.

    Miller’s experience with sea level change appears to be primarily on geologic timescales. I read through a presentation of his and it sure doesn’t cover the topic like Nils-Axel Moerner does.

    living in New jersey we are used being treated like turds that we are.

    At least you’re compostable! Us flinty New Englanders come back as new rocks in the pasture.

  50. RGGI Inc seems to feel the need to assure folks about the June auction going ahead as planned. They also rarely miss the opportunity to mention the cumulative amount of money they distribute to the states (which is slightly less than the amount of money they take from power plants):

    STATEMENT FROM THE PARTICIPATING STATES OF THE REGIONAL GREENHOUSE GAS INITIATIVE ON THE ANNOUNCEMENT FROM NEW JERSEY GOVERNOR CHRISTIE

    May 26, 2011 — In response to today’s announcement by Governor Christie that New Jersey will pull out of the Regional Greenhouse Gas Initiative (RGGI), the RGGI participating states confirm that RGGI CO2 Allowance Auction 12 will be held as scheduled on Wednesday, June 8, 2011.

    RGGI, a collaborative effort of ten states, is delivering more than 700 million dollars in investments in the clean energy economy that are saving energy consumers money, making businesses more competitive and creating jobs throughout the region. With each state exercising its independent authority to achieve low-cost greenhouse gas emissions reductions, the RGGI market-based program has widespread support across the region and will continue.

    Based on information provided by the state of New Jersey, the participating states will evaluate how New Jersey’s proposed withdrawal might affect New Jersey allowances currently in circulation.

    RGGI participating states will publish any amendments to the Auction Notice for RGGI CO2 Allowance Auction 12 no later than 5PM on Tuesday, May 31, 2011 at http://www.rggi.org.

    ###

    ==============================================
    About Regional Greenhouse Gas Initiative, Inc.
    Regional Greenhouse Gas Initiative, Inc. (RGGI, Inc.) is a 501(c)(3) nonprofit organization created to provide technical and administrative services to the states participating in the Regional Greenhouse Gas Initiative. For more information please visit: http://www.rggi.org/rggi.

  51. Don’t worry – Australia is going to save the world all by ourselves – we will institute a, – wait for it – “Carbon Tax” to make up for New Jerseys backsliding…

  52. Report: Regional cap-and-trade program improved state economies

    A regional cap-and-trade program established in the Northeast has reduced greenhouse gas emissions, created new jobs and lowered state energy bills, a report released Monday says.

    The report comes as prospects for a federal cap-and-trade system for greenhouse gases are all but dead following the failure to pass such a program in the Senate last year. Cap-and-trade opponents argue that such program would impose burdens on the power sector that would result in major economic harm.

    But the new report says that a regional cap-and-trade program has resulted in a series of economic benefits for a select group of states.

    The report focuses on the Regional Greenhouse Gas Initiative (RGGI), a 10-state cap-and-trade program in the Northeast. The report, commissioned by the organization that runs the program, analyzes investments made with money generated from a series of emissions-allowance auctions beginning in 2008.

    States invested 80 percent of the $789.2 million generated from the auctions in energy programs, the report finds. Overall, those investments result in significant returns. For every $1 invested, the states saw $3 to $4 in returns.

    Maybe some of us should research this further.

  53. Pretty impressive, jafo. Or it would be if you weren’t linking to a The Hill post which links to … RGGI press releases.

    Press releases from a bureaucracy proclaim the success of said bureaucracy. I certainly didn’t see that coming…

    Next up: Obama administration press release proves that the stimulus package really did work.

  54. Typo: “burgeoning repel efforts” — I guess repelling C&T is part of the effort, but proximately “repeal efforts” are the issue. ;)

    As the new Sen. Brown is demonstrating, NE elects really mushy conservatives. It may be political necessity and expedience for them to continue to cater to Never-Neverland fantasizing, but it makes it real dangerous to give them more than limited short-term regional mandates.
    ________
    As for NJ, in an immense irony there’s a wee (Fed. gov’t-disregarded) project there that may yank the economic rug out from under every renewables scheme on the planet. In about 5 yrs, maybe sooner.

    On the merest shoestring (~$2 M over 2 yrs) a little firm called Lawrenceville Plasma Physics has been consistently generating results that exceed those of the best efforts of any and all other (known, public) fusion programmes in the world. And they’d be far further along if they’d had adequate staffing and equipment resources.
    Current timelines will, it seems and I fervently hope, result in a viable licensable design for a mini generator (5MW) with a capital cost of about 5-10¢/KW, and a cost of production of about 0.3¢/kwh. (The output might rise to ~20-25 MW given adequate future engineering advances in cooling, which would slash those costs even deeper.) The size limitation (fully housed in a structure about the size of a home garage) is inherent in the design; scaling up would involve clustering or ganging them.

    But it would/will suck the economic life out of all the fantasy technologies; it goes them much more than one better on all counts. It’s not even a radiation source; non-neutronic (‘aneutronic’) and hence no irradiated equipment etc. to cope with, and no waste other than stable neutral Helium-4.

    Over time, even coal, fission, hydro, etc. would be economic roadkill. It would/will change everything.
    LPP.com
    Here’s hoping! All my fingers and toes are crossed. :)

  55. Christie won’t run against Obama because it would be uphill,

    The man from Chicago ne (Hawaii) is beatable. It’s the economy,…..

  56. On the merest shoestring (~$2 M over 2 yrs) a little firm called Lawrenceville Plasma Physics has been consistently generating results that exceed those of the best efforts of any and all other (known, public) fusion programmes in the world.

    True that. Last I heard they were up to 100 milliW and electrode erosion was a serious problem. Only 7 or 8 orders of magnitude to go before we get commercial levels of power from the device. Almost there.

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