Has RGGI lived up to its purpose?

In the wake of President Obama’s unilateral decision to do something – anything, as long as it doesn’t need approval from Congress – about the perception that climate change is anthropogenic and the United States must take a lead role in changing our planet’s temperature, this may be a good time to review the effects of an earlier attempt at combating global warming known as the Regional Greenhouse Gas Initiative (RGGI). Nine Northeastern states, including Maryland, are members of this group – the others are Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, Connecticut, New York, and Delaware. New Jersey was also an original member of the cabal but left in 2012 at the behest of their governor, Chris Christie, who called the RGGI effort “gimmicky” and “a failure.” The group, and its associated non-profit corporation, describe themselves as such:

The Regional Greenhouse Gas Initiative (RGGI) is the first mandatory market-based regulatory program in the U.S. to reduce greenhouse gas emissions. RGGI is a cooperative effort of Northeast and Mid-Atlantic states to reduce emissions of carbon dioxide (CO2) from the power sector.

RGGI, Inc. is a non-profit corporation created to provide technical and administrative services to the states participating in the Regional Greenhouse Gas Initiative.

While the idea was supposedly one of making utilities pay for the messes they create by using carbon-based fuels to create the electricity we all need, the reality is that RGGI, at least in Maryland, mainly has served as yet another method of redistributing wealth.

(continued at Watchdog Wire…)