When it comes to media coverage, alarmism easily dominates the headlines.
Due to a 24/7 news cycle, many important topics—especially as it relates to the environment—often get overlooked by the public.
Here are three environmental news stories to be aware of this week.
The Good: Virginia to Withdraw from RGGI
Governor-elect Glenn Youngkin recently announced he’ll pull the Commonwealth of Virginia out of the 11-member Regional Greenhouse Gas Initiative (RGGI).
Youngkin conveyed to Hampton Roads business leaders he’ll accomplish this through executive action, declaring, “RGGI describes itself as a regional market for carbon, but it is really a carbon tax that is fully passed on to ratepayers. It’s a bad deal for Virginians. It’s a bad deal for Virginia businesses.”
Carbon taxes ultimately hurt producers and consumers—especially the latter.
What would continued participation in this so-called carbon “market” deliver for Virginia ratepayers? Why, an additional $52.44 per year in added costs. Recent State Corporation Commission (SCC) filings revealed continued participation in the RGGI program will increase energy costs $4.37 a month, or $52.44 per year, if enacted by next September. Coupled with the estimated $800 yearly increase to energy bills if the Virginia Clean Economy Act (VCEA) proceeds, that’s not sustainable.
If Youngkin follows through, this will be a win for all Virginians.