NJ Withdraws From Regional Carbon Trading Program

Law360, New York (May 26, 2011, 5:52 PM EDT) -- New Jersey Gov. Chris Christie said Thursday that his state would drop out of a regional cap-and-trade program by the end of the year, claiming benefits from the initiative have been miniscule.

According to Christie, the Regional Greenhouse Gas Initiative does nothing more than tax electricity and the state's cities and businesses without providing a measurable benefit to the environment. RGGI is a collective of 10 states — Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island and Vermont — that cap carbon...
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