This twit is trying to convince you that having your money redistributed is good for you (and you’ll just love giving ’til it hurts)
It’s not often that we Northeasterners get to brag about setting a trend that Californians are following. But when it comes to creating a cap-and-trade system for greenhouse gas emissions, we are the nation’s first. And as California works to implement a carbon market of its own, Californians can learn from the Northeast’s experience.
The Regional Greenhouse Gas Initiative, or RGGI (pronounced “Reggie”), is a cap-and-trade program for the six New England states, New York, Maryland, Delaware, and until recently, New Jersey. RGGI requires power plant owners to buy allowances at auction for the carbon dioxide they emit. If they pollute less, they need fewer allowances, and utilities can sell allowances they no longer need.
The design of the carbon market California is building is different, but the same basic principle applies: market forces will drive companies to find sensible ways to cut emissions.