| Action | Repeal CO 2 Budget Trading Program as required by Executive Order 9 (Revision A22) |
| Stage | Proposed |
| Comment Period | Ended on 3/31/2023 |
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I'm writing to express my support of Virginia pulling out from the deeply flawed Regional Greenhouse Gas Initiative.
As I wrote in the Virginian Pilot in January 2022 (https://www.pilotonline.com/opinion/columns/vp-ed-column-hoffman-0102-20220101-yu6uquxryze4xiedbx2vh2cof4-story.html):
A timely withdrawal from this flawed carbon market, which isn’t inherently market-based, will benefit all Virginians given its vast shortcomings.
The most notable problem with RGGI is its overall negligible impact on carbon emissions. In 2019, the Congressional Research Service observed that nine partner states “account for approximately 7% of U.S. CO2 emissions and 16% of U.S. gross domestic product” and called carbon emissions reductions “arguably negligible” at best.
When those numbers are broken down, it only accounts for a measly 1.4% in total U.S. emissions reductions. And even this reduction is largely attributable to the transition from coal to natural gas in the state.
...
Virginians would see diminished purchasing power because they already pay a premium on electricity and gas. Worse, carbon taxes would disproportionately hurt lower-income Virginia households since they rely and depend on carbon-intensive goods and energy sources for sustenance. Electricity costs would skyrocket in more economically depressed regions of the commonwealth, including southwestern Virginia."
Thank you for your consideration!
Gabriella Hoffman
Virginia Resident & Host of the District of Conservation Podcast