Industrial Wind Action (IWA), a group "formed to counteract the misleading information promulgated by the wind energy industry and various environmental groups" has posted an article damning of New Jersey's RGGI "Cap & Trade" program.(Read more about the group's mission here.)

The IWA article takes RGGI head on:

"Bottom line, the program has raised electricity prices, created a slush fund for each of the member states, and has had virtually no impact on emissions or on global climate change."

IWA exposes the fraudulent claims of leftist environmentalists who say RGGI has already helped reduce carbon emissions in the participating states.

Superficially, the good news is that RGGI's initial year saw emissions from participant power plants fall 34% to just above 120 million tons of CO2. This figure is well below the 188 million ton cap and even below the program's 2019 goal of 10% reductions from 2005 levels[2]. However, most objective observers do not credit RGGI for the precipitous drop in overall emissions. Mild weather, the current economic downturn and lower natural gas prices caused a significant drop in electricity consumption.

The article also points out that revenues from RGGI have been used as part of what it calls "Political/Enviro Cronyism," with millions of dollars in grants being given to politically connected environmental companies. In fact, ratepayers in New England have seen almost 1% added to their electrity bills while receiving nothing tangible in return for this energy tax.

Additionally, the IWA artixcle notes that funds from RGGI have also been diverted for purposes other than as originally intended -- such as $65M being used for general revenue in New Jersey.

In summation, IWA says of RGGI:

RGGI is Exhibit A against a national cap-tax-and-spend program. Americans should understand this program and run in the other direction.

Read the entire IWA article here.

For more information, visit www.nonjcapandtrade.com.