Americans for Prosperity will be holding a cap-and-trade rally and press conference on Wednesday, September 8, 2010 at 11:00am at the offices of the Regional Greenhouse Gas Initiative (RGGI) on Wall Street (90 Church Street). This is the date of the next secretive RGGI auction.

To date, cap-and-trade opponents have successfully thwarted federal legislation. But right here in the Northeast, cap-and-trade is up and running. Ten states, including New York and New Jersey, have been participating in the RGGI program for over two years.

RGGI’s eight carbon auctions held thus far have extracted a staggering $660 million from private business. Ultimately, these enormous sums will be borne by ratepayers in the form of skyrocketing utility costs.

Heritage Foundation estimates regarding cap-and-trade legislation passed last year in the House of Representatives are sobering. Gas prices could rise by 58% percent by the year 2020. Electricity prices could rise 90%, nearly twice as much as ratepayers are experiencing today.

If the RGGI program continues, and similar regional initiatives begin to take hold across the country, these drastic increases in the cost of energy will severely damage America’s competitiveness and destroy jobs.