“Positive RGGI program reviews have been from RGGI, Inc. (the program administrator) and the Acadia Center, which advocates for reduced emissions (see Stutt, Shattuck, and Kumar 2015). In this article, I investigate whether reported reductions in CO2 emissions from electric power plants, along with associated gains in health benefits and other claims, were actually achieved by the RGGI program. Based on my findings, any form of carbon tax is not the policy to accomplish emission reductions. The key results are:
• There were no added emissions reductions or associated health benefits from the RGGI program.
• Spending of RGGI revenue on energy efficiency, wind, solar power, and low-income fuel assistance had minimal impact.
• RGGI allowance costs added to already high regional electric bills. The combined pricing impact resulted in a 12 percent drop in goods production and a 34 percent drop in the production of energy-intensive goods. Comparison states increased goods production by 20 percent and lost only 5 percent of energy-intensive manufacturing. Power imports from other states increased from 8 percent to 17 percent.” click here