The following op-ed by state director Steve Lonegan appeared in the Times of Trenton
In their op-ed Anti-global warming efforts blow hot and cold in N.J. (June 7), Sen. Barbara Buono and Assemblywoman Linda Stender seem confused about the cap-and-trade scheme they sponsored. They write, The states that implement efficiencies to lower their greenhouse gas emissions can sell their excess credits at periodic auctions, where businesses in other states that have not reduced their emissions levels can purchase these credits thus the term cap and trade.
The bad news for the RGGI Cap & Trade scheme keeps coming.
The latest top secret auction of carbon permits held this past Wednesday yielded a paltry $25 million for the embattled program.
Prior RGGI auctions have, on average, raised over $78 million in proceeds with Auction 11 in March bringing in $83 million on the backs of ratepayers across the ten participating Northeastern states. The going rate for RGGI carbon allowances has bottomed out at $1.89, the minimal allowable price.
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