Gov. Chris Christie to Kick Cap-and-trade "Reggie" Out of New Jersey
Poor Reggie. New Jersey is kicking him out.
Gov. Chris Christie pulled the plug on New Jersey's participation in the Regional Greenhouse Gas Initiative (RGGI, fondly called "Reggie"). No good comes from letting that useless guy live any more in the Garden State.
Who's Reggie?
New Jersey is one of ten states in the northeast that signed on to the cap-and-trade scheme that Reggie is. It is the only cap-and-trade measure operating in the country right now. And it's no surprise that the ten East Coast states that signed on would be mostly blue states. Anything to make doing business in them more restrictive for the energy sector and expensive for its citizens.
What does Reggie do?
Reggie requires power plants in the ten states to reduce CO2 emissions ten percent by 2018. Recall, CO2 is the stuff of our exhale, a substance necessary for life, and a big promoter of plant life and agricultural crops. Some folks like Reggie, however, are completely ignorant of carbon dioxide's benefits. And some folks still believe it has something to do with that grand hoax, global warming.
Reggie allows those power plants that can't meet that ridiculous reduction to buy CO2 emissions permits. They are on sale either from power plants that met the reductions with room to spare or from the state. Power plants that buy permits would need to raise energy prices to their customers, resulting in higher heating bills for folks in those states. Or, it results in power plants moving to other states without a Reggie.
Why is NJ pulling Reggie's plug?
Well, if it's not obvious, it should be. When a state raises fines, penalties, and taxes, what do people do? They move. They go to neighboring states where these are lower. Power plants, like people, vote with their feet and move out, taking their business to places where business can be conducted with greater ease and less bureaucratic cost.
People are already moving out of New Jersey. The power plants can't be far behind. Soon, with higher energy costs and usurious tax rates already, business exodus out of the state is all but ensured. There goes the revenue-generating tax base.
Gov. Chris Chistie wants no more of that and is kicking that useless guy named Reggie out. Besides, he says, Reggie isn't working in New Jersey.
Source:
http://online.wsj.com/article/SB10001424052702304520804576347560078618994.html?mod=googlenews_wsj
Gov. Chris Christie pulled the plug on New Jersey's participation in the Regional Greenhouse Gas Initiative (RGGI, fondly called "Reggie"). No good comes from letting that useless guy live any more in the Garden State.
Who's Reggie?
New Jersey is one of ten states in the northeast that signed on to the cap-and-trade scheme that Reggie is. It is the only cap-and-trade measure operating in the country right now. And it's no surprise that the ten East Coast states that signed on would be mostly blue states. Anything to make doing business in them more restrictive for the energy sector and expensive for its citizens.
What does Reggie do?
Reggie requires power plants in the ten states to reduce CO2 emissions ten percent by 2018. Recall, CO2 is the stuff of our exhale, a substance necessary for life, and a big promoter of plant life and agricultural crops. Some folks like Reggie, however, are completely ignorant of carbon dioxide's benefits. And some folks still believe it has something to do with that grand hoax, global warming.
Reggie allows those power plants that can't meet that ridiculous reduction to buy CO2 emissions permits. They are on sale either from power plants that met the reductions with room to spare or from the state. Power plants that buy permits would need to raise energy prices to their customers, resulting in higher heating bills for folks in those states. Or, it results in power plants moving to other states without a Reggie.
Why is NJ pulling Reggie's plug?
Well, if it's not obvious, it should be. When a state raises fines, penalties, and taxes, what do people do? They move. They go to neighboring states where these are lower. Power plants, like people, vote with their feet and move out, taking their business to places where business can be conducted with greater ease and less bureaucratic cost.
People are already moving out of New Jersey. The power plants can't be far behind. Soon, with higher energy costs and usurious tax rates already, business exodus out of the state is all but ensured. There goes the revenue-generating tax base.
Gov. Chris Chistie wants no more of that and is kicking that useless guy named Reggie out. Besides, he says, Reggie isn't working in New Jersey.
Source:
http://online.wsj.com/article/SB10001424052702304520804576347560078618994.html?mod=googlenews_wsj
Published by Lorraine Yapps Cohen
I design jewelry free from the constraints of textbook techniques and write non-fiction free from the rigors of technical expression. Chemist by training, creative by spirit, conservative in values, and art... View profile
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10 Comments
Post a Commentwell done!
Nicely Written, thank you
"When a state raises fines, penalties, and taxes, what do people do? They move. They go to neighboring states where these are lower. Power plants, like people, vote with their feet and move out, taking their business to places where business can be conducted with greater ease and less bureaucratic cost." Why don't ya just tell it like it is Lorraine? Frankly your words are so factual and common sense oriented, lefties will never get it. Hear it gets cold in New Jersey...wonder if tanning and hair gel will keep one warm? Perhaps we'll see....
Good for the governor of New Jersey!
Great report, thanks Lorraine!
Getting out of a cap and trade state while there is still gas money to do it, sounds like a good idea to me.
Awesome writing! Thanks for a great read!
Great information!
Go Christie!
This is really informative :) Thanks for the great information.