AFP Denounces Governor Christie’s Decision to Use Cap-and-Trade Energy Tax to Subsidize Offshore Windmill Project

Taxpayer Group Says Ratepayers Will Pay for Governor’s Subsidy Program with Higher Electricity Rates

BOGOTA, NJ – The non-partisan taxpayer group Americans for Prosperity is criticizing Governor Christie for using cap-and-trade funds to subsidize a project to build windmills off of New Jersey’s coast. The Offshore Wind Economic Development Act, signed into law by the governor last week, would “require that a percentage of electricity sold in the State be from offshore wind energy.”

The bill, S2036, authorizes the EDA to use funds generated by the RGGI Cap-and-Trade program, which are deposited into the “Global Warming Solutions Fund,” to finance the project.

Steve Lonegan, state director of Americans for Prosperity said, “It is stunning that the governor is continuing the same costly ‘green’ policies of his predecessor, Jon Corzine, all based on a global warming threat that has been debunked.”

“It is common knowledge that windmills are both unreliable and costly. In Massachusetts, which has a similar windmill project, ratepayers will be paying 18.7 cents per kilowatt hour and energy prices will be going up 3.5% a year,” said Lonegan. “This policy will destroy New Jersey’s ability to be competitive and drive out even more businesses”

“Worse yet, the governor is relying on the RGGI cap-and-trade scheme to pay for this boondoggle, rather than moving to repeal this legislation authored by Lisa Jackson and passed by Jon Corzine. While the American people have been fighting cap-and-trade tooth and nail at the federal level for over a year and a half, this Governor is promoting cap-and-trade in New Jersey,” said Lonegan.

“It also begs the question of who will pay for this now that the governor has exhausted the $65 million from the ‘Global Warming Solutions Fund.’ Of course, we know who will pay for it – New Jersey ratepayers through ever-increasing utility bills,” said Lonegan.

“The governor is on the wrong side of this issue,” said Lonegan. “If he’s concerned about New Jersey’s economy then he ought to stop promoting cap-and-trade and left-wing energy policies like subsidizing windmill projects that do not work,” Lonegan concluded.

For more information on New Jersey’s cap-and-trade program, please visit www.NoNJCapAndTrade.com.