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PR: Americans for Prosperity: We Were Right on RGGI

August 22, 2011 J

Americans for Prosperity: We Were Right on RGGI

Liberal Environmentalists Admit RGGI Cap & Trade Scheme Has Failed to Reduce Emissions; Press for Stricter Cap, Higher Electricity Prices

BOGOTA, NJ – Americans for Prosperity, the nation’s leading free-market, grassroots organization, says they have been proven right in their criticism of the Regional Greenhouse Gas Initiative (RGGI) Cap & Trade scheme.

For the past year, Americans for Prosperity has warned the public that the RGGI scheme would result in skyrocketing electricity bills for consumers in the Northeast and that the regional cap-and-trade scheme was failing to reduce emissions.

Now, liberal proponents of the scheme have admitted to RGGI’s failures.

According to an article which appeared over the weekend in the Financial Times, “The scheme has had very little impact because the cap…has turned out to be far above actual emission levels.”

The ineffectiveness of the cap is prompting RGGI proponents to call for a stricter cap that would drive up rates throughout the remaining nine RGGI states. In their own words:

“Peter Shattuck, of the campaign group Environment Northeast, said: ‘If you want to hold on to the original objective of the RGGI, you need to bring the cap down, to reflect where emissions are now’.”

David Littell, a commissioner of the Maine Public Utilities Commission and chairman of RGGI Inc.: “’We could retire allowances that are not sold,’ he said. ‘We could look again at the near-term goal. Or we could get more aggressive for further out, setting a target of an 80 per cent reduction by 2050. All of these things are on the table’.”

AFP-New Jersey state director Steve Lonegan, who succeeded in convincing Governor Christie to withdraw New Jersey from the RGGI Cap & Trade program, issued the following statement in response to the Financial Times article:

“I’m glad to see that the radical environmentalists are finally admitting what we have known all along: that the RGGI Cap & Trade scheme has been a total failure and the only way it can work is by causing electricity rates to, as President Obama so infamously said, ‘necessarily skyrocket’.”

“If the RGGI Cap & Trade scheme is not dismantled and right soon, ratepayers throughout the Northeast can not only expect to be the victims of soaring energy prices but should also brace themselves for the economic destruction RGGI will heap on their states in the way of thousands of lost jobs and untold lost wealth.”

For more information on the RGGI Cap & Trade program, please visit www.NoNJCapAndTrade.com. Also, visit Americans for Prosperity’s website here.

Americans for Prosperity (AFP) is a nationwide organization of citizen-leaders committed to advancing every individual’s right to economic freedom and opportunity. AFP believes reducing the size and intrusiveness of government is the best way to promote individual productivity and prosperity for all Americans. AFP educates and engages citizens to support restraining state and federal government growth and returning government to its constitutional limits. AFP is more than 1.7 million activists strong, with activists in all 50 states. AFP has 32 state chapters and affiliates. More than 85,000 Americans in all 50 states have made a financial contribution to AFP or AFP Foundation. For more information, visit www.americansforprosperity.org
Americans for Prosperity does not support or oppose candidates for public office.

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