Monday, September 6, 2010

Cap and Trade Bill has a Back Door. It's called RGGI

The following information is relevant to residents of all states because if the Senate Energy Bill doesn't pass, no sweat, the back door is WIDE open.  Here is more about it...

 Regional Greenhouse Gas Initiative (RGGI Tax) is identical to the Senate Cap and Trade (Energy Tax) Bill.  It is already mandated and hidden in tax bills in ten states. They are NJ, NY, CT, MA, ME, RI, NH, VT, DE & MD.  These states do not want us to know what portion of our energy bill represents this tax.  They know that If we knew we would be outraged.  I do know that my bill suddenly doubled in 2008 and never went back.  Your’s probably did also.  Go back and look.  I estimate that approximately 50% of your energy bill is this tax.  No wonder they don’t want to itemize it.

On September 8th, the RGGI offices on Wall Street will be holding another secretive quarterly auction for CO2 allowances. Traders are speculating on the future cost of carbon permits. They are expecting to make huge profits by purchasing allowances now at say, $1.80 and selling them to power suppliers when the law takes effect for say $18.00 or more depending of the demand.  Where else can you make returns like that!!!

We do not know who the traders are because everything about the auction is secretive.  We do know that several Wall Street firms like Goldman Sacks and others as well as some major banks are registered to participate.  This is equivalent to insider trading.  Apparently, the OPEN PUBLIC RECORDS ACT does not apply to RGGI because of potential harm to the performance of the auction.  Although RGGI offices claim all of the information is reported to the States, NJ, and likely other states, is closing that information to the public.

Here is more on the subject from Fox News:

It gets worse.  With the potential for ten states to make outrageous profits like these, there is no question that this tax will gain more favorable support and begin spreading to other states rapidly.  So many states are in financial stress and need taxes like these to help them pay the bills.  Although the tax is supposed to only be used for environmental projects, Gov Chris Christie of NJ already raided the funds this year in order to balance the state budget.  Once governors begin depending on these taxes to run their states, there is no going back. Legislators are hoping that if they are not successful in passing the Energy Tax through the Senate this year they can still get this tax through a majority of the states with the highest populations using this route.

There is a chance that we can stop this.  We need ONE governor to stand up and tell RGGI bosses that this tax hurts our state.  Christie must be the first Governor to call for the repeal of this bill.  We must contact Gov Christie and tell him he is "THE ONE."  If we can get him to call for this bill to be repealed this topic will get nationwide attention and make it uncomfortable for those in the legislature to continue to ignore our efforts.

Legislation has already been introduced to repeal this tax in NJ.  Senator Mike Doherty (R-23) and Senator Steven Oroho (R-24) introduced Bill S2250 which would repeal New Jersey’s Global Warming Response Act and corresponding RGGI “Cap & Trade” legislation.  The bills to repeal RGGI are on thedocket in both the Senate and in the Assembly.  Last month Assemblyman Michael Patrick Carroll and Assemblywoman Alison Littell McHose introduced their repeal bill.  Democrats are the majority of both houses so it is difficult to get the bill pushed further.  You can help by contacting your legislator in your district and asking them to bring these bills to the floor.

Also, Visit where you will be able to sign a petition to repeal the
bill.  There you will also find a template letter/email which you can use to send your opinion to targeted legislators in your district.  I suggest that you edit and personalize the template in your own words in order to make your message more effective.  I also suggest that you print out letters and mail or hand deliver them if possible.  Please keep them short and polite so that you will be certain to receive your deserved attention.  If you are short on time, for less than five minutes effort, the information provided will help you get your opinion to your legislator today.

We need as many protestors as possible to show up at the auction. You are asked to show up at 90 Church Street on Wednesday September 8th in Manhattan at 11AM.  I’d like to see a sea of people there and let them know that more people know what’s going on then they banked on.  We need the media to take notice.  We need to get national attention about this tax before it becomes a national commodity.

Please forward this information to everyone you know. Please also post on Facebook, Twitter, and every social networking site you belong to. If you blog or are a member of a discussion group, please post this information and event’s details there also. Some groups, like Americans for Prosperity and others may already be sponsoring buses into the city from key locations. Please check you local groups and state chapters for more details.

If you are not yet convinced we need to stop this tax now, read about Governor Christies 
new law “ Offshore Wind Economic Development Act, that mandates a certain percentage of NJ’s energy come from windmills off our coast.

“Because wind blows intermittently, electric utilities must either keep their conventional power plants running all the time to make sure the lights don't go dark, or continually ramp up and down the output from conventional coal- or gas-fired generators (called "cycling"). But coal-fired and gas-fired generators are designed to run continuously, and if they don't, fuel consumption and emissions generally increase. A car analogy helps explain: An automobile that operates at a constant speed—say, 55 miles per hour—will have better fuel efficiency, and emit less pollution per mile traveled, than one that is stuck in stop-and-go traffic.”

"In effect, This law helps put more of OUR money down the drain because this project will do nothing to reduce emissions.  I am certain there are a lot of more useful things we can do with that money.  Like give it back to us so that we can spend it and send it back into the economy.

I look forward to hearing back from you about what you did to spread the word and what reaction you received. 

Insert:  I have had so many interesting comments and additional informative links provided by members of our group so please read each of the comments and learn more about how horrific this whole Carbon Tax issue is becoming.  If you live in the Midwest here is a link for you that demonstrates the Tax is coming your way...

If you live in the Western states, here is a link to your threat...

This door is so wide open, Rubeus Hagrid can walk through comfortably.


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