Thursday, December 15, 2005

Regional Greenhouse Gas Initiative

The Regional Greenhouse Gas Initiative (RGGI) is in danger of failing -- with Massachusetts, Rhode Island, and Connecticut failing to reach a final agreement on how the program would work. One issue is the level at which carbon credits would be capped, aka the safety valve. Business groups including the New England Council and the American Council for Capital Formation claim that if RGGI is ever enacted it would dramatically boost electricity costs -- and plants in RGGI states would be tempted to relocate to other states that would not have carbon dioxide limits. NY Governor Pataki predicts RGGI would only lead to a modest increase and would save customers money down the road as power plants get more efficient.

http://lawprofessors.typepad.com/environmental_law/2005/12/regional_greenh.html

Climate Change, Energy, Governance/Management, Law, Legislation, Sustainability, US | Permalink

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