April 21, 2012

Is energy progress good for the economy?

It looks that way. Apparently the US states In the Northeast Cap And Trade Program have reduced CO2 20% faster than others, while growing GDP twice as fast as others.... "Northeastern states participating in America’s first carbon cap and trade program have outperformed the rest of the country in GDP growth and reduction in global warming pollution. That’s according to a new report from Environment New Jersey, which examined emissions data and economic growth indicators from 2000 to 2009. The Regional Greenhouse Gas Initiative (RGGI) is a nine-state cap-and-trade market designed to reduce emissions in the utility sector 10% by 2018. A recent independent analysis showed that the program has already created $1.6 billion in economic value and set the stage for $1.1 billion in ratepayer savings through investments in efficiency and renewable energy. This latest report shows that states under the RGGI program saw a 20% greater reduction in per-capita carbon emissions than non-RGGI states — all while growing per-capita GDP at double the rate of the rest of the country." http://thinkprogress.org/climate/2012/04/20/468659/states-in-northeast-cap-and-trade-program-reduce-co2-faster-grow-gdp-other-states/