State of New Jersey passed cap and trade in 2005, RGGI pressure group key to millions at stake

No need for preoccupation with national cap and trade.

• The State of New Jersey made it law in 2005 via pressure group RGGI (Regional Greenhouse Gas Initiative). Millions of dollars have already been raised and 'auctioned.' At least 9 other states have been shaken down by RGGI.

NJ Government Press Release: "In October (2005), New Jersey took a crucial first step to tackle global warming by

• classifying carbon dioxide as an air contaminant.

New Jersey was one of the first states in the nation to take such action. The adopted regulations established the framework to allow the Garden State to quickly move

• forward with the RGGI program."...

At the bottom of its press release the State of New Jersey refers readers to the RGGI for more information. RGGI is not a government group. It is a group of special interests in business to steer money to others, including at least one carbon trading group. Millions have already been "traded."

• The taxpayers of New Jersey via their elected government, appear to promote a high powered special interest group.

Billions in profits for carbon traders hang on the success of this group, RGGI.

• "For more information please visit http://www.rggi.org/. " (Dec. 20, 2005 press release)

RGGI may be legally defined as non-profit but they extract and steer millions to interests involved with their carbon offsets operation.

• 12/20/2005: "Today’s agreement, approved by seven states (New Jersey, New York, Delaware, Connecticut, New Hampshire, Vermont and Maine)

• calls for a mandatory cap on emissions, coupled with

• a market-based trading program

to achieve the lowest possible compliance costs."...

• Press Release 12/20/2005 from New Jersey Office of the Governor, "(Governor) Codey Announces Landmark Regional Agreement to Combat Global Warming"

Bloomberg, 3/1/10: "Most of the U.S. value is tied to a 10-state cap-and-trade program for power plants in the nation’s Northeast called the

• Regional Greenhouse Gas Initiative,...

Besides the carbon dioxide permits from the Northeast’s program,

• $74 million in so-called offsets were traded last year, Point Carbon said."...

"US carbon market worth $2.7 billion, analyst says," 3/1/10 by Simon Lomax****

• Remember the Chicago Climate Exchange (owned by Goldman Sachs, and the usual suspects) ?

8/25/08: "Last week the Chicago Climate Exchange (CCX) began trading of emission permits under the

• Regional Greenhouse Gas Inititative (RGGI).

The RGGI consists of 10 member states and is the

• first cap-and-trade system in the US that makes it compulsory

for power plants to either adhere to the stipulated emission levels

• or purchase more permits."...

Rolling Stone, 7/13/09, "Goldman Sachs is everywhere." from "The Great American Bubble Machine" by Matt Taibbi

• Nothing is actually traded in this scam, just "permits." It is the transaction itself that makes money. ed.

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