The Competitive Enterprise Institute announced today that it is acting as co-counsel in a recently filed lawsuit in the state of New York against the state’s participation in the Regional Greenhouse Gas Initiative (a state cap and trade program). The lawsuit has been filed on behalf of small business owners in New York State who have faced increased electricity costs, and can be read here (.pdf). The American Spectator has a short write up here. The basis for the suit relies on the fact that elected officials in New York enrolled in the RGGI without approval by the state legislature. New York is the only state involved with RGGI who entered the initiative without approval from its legislature. As RGGI has forced electricity generators to purchase annual carbon allowances, it has raised the price of electricity for New York residents, effectively acting as a tax on electricity producers (those who produce more than 25 megawatts annually) in New York. [click to continue…]
The American Northeast has attained metaphysical balance on energy rationing, thanks to New Jersey Governor Chris Christie’s (R) announcement yesterday that he would withdraw the Garden State from the Regional Greenhouse Gas Initiative, a multi-state cap-and-trade scheme. After New Jersey leaves, the remaining nine participants will be: Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New York, Rhode Island, and Vermont.
Christie’s unexpected decision serves as the yin to New Hampshire’s yang. In late February, the New Hampshire House of Representatives passed HB 519, legislation that would withdraw the Granite State from RGGI, by a 246 to 104 vote. At the time, it was widely thought that the Senate would quickly follow suit, as Republicans control the upper chamber. HB 519’s ultimate enactment appeared so certain, in fact, that Governor John Lynch (D) issued a pre-emptive veto. It should have been a futile gesture, because Republicans hold a veto-proof majority in both chambers of the legislature. Then the environmentalist lobby mobilized and frightened many members of the Senate. The bill was delayed. And in early May, the full Senate, where Republicans enjoy a 2 to 1 majority, voted to remain in the the regional energy rationing scheme. New Hampshire Republicans had snatched defeat from the jaws of victory.
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Has the EU met its emission reduction targets under the Kyoto Protocol? Not if emissions associated with goods Europe imports from Asia are taken into account. So finds a study published this week in Proceedings of the National Academy of Sciences (PNAS).
The study, Growth in emission transfers via international trade from 1990 to 2008, calculates the net increase in global carbon dioxide (CO2) emissions resulting from developed countries’ imports of goods produced in developing countries. The study provides additional evidence of Kyoto’s futility, although the authors, a team of Norwegian, German, and U.S. researchers, don’t draw this conclusion and would likely deny it.
Some key findings: [click to continue…]
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