The New Hampshire Senate will be back in session on Wednesday with a slew of various issues on their plate. One issue that is extremely important to the people of New Hampshire is a bill to repeal membership in the Regional Greenhouse Gas Initiative (HB519). The House voted with an overwhelming majority to repeal New Hampshire’s membership. It’s now up to the Senate to vote in order to make the bill a veto-proof majority (Governor Lynch, who got New Hampshire into this Initiative, has said he will veto its repeal). There has been no actual benefit to New Hampshire for participating in this Initiative other than raking in millions to hand out to special interests in the name of ‘green energy’.
It’s really quite simple, utilities use energy to provide the state of New Hampshire energy, therefore creating Carbon Dioxide or CO2 emissions, the Regional Greenhouse Gas Initiative forces energy producers to purchase ‘credits’ for the amount of CO2 they emit or expect to emit. The State has a cap on the amount; however, more can always be purchased on the ‘market’ – think ‘Green Street’ rather than Wall Street, only the same ‘green’ dollars are being made by companies like World Energy Solutions who are trading the ‘carbon credits’ for the RGGI. From the NJ Watchdog.org:
The bidders at RGGI auctions include Goldman Sachs, Morgan Stanley, Merrill Lynch, JPMorgan Chase and other Wall Street heavyweights. They hope to make big money by speculating on the price of permits, called allowances. Electric power plants are required to obtain an allowance for each ton of CO-2 they emit.
Read more at Examiner