RGGI Carbon Tax Soars Again, Averages Near $14/Ton Latest Auction

The so-called Regional Greenhouse Gas Initiative (RGGI), a tax on carbon dioxide emissions from coal and natural gas-fired power plants aimed at killing off those two sources of energy, is more expensive than ever. Pennsylvania Gov. Tom Wolf is forcing PA to join the RGGI cabal of 11 states (most of them in the northeast), a move endorsed by the man who wants to replace him in November, PA Attorney General Josh Shapiro (see PA AG Shapiro Signs Off on RGGI Carbon Tax…After Criticizing It). In the most recent RGGI “auction” of so-called carbon allowances, bidders paid an average of $13.90 per allowance--per short ton of CO2 emitted. That's the highest price EVER paid, and there's no sign that the ongoing increases will slow down.

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