New Jersey to exit 'failing' US regional cap-and-trade scheme

Republican Gov. Elect Chris Christie greets supporters on election night at his headquarters in Parsippany, NJ, on Nov. 3, 2009. (AP Photo/Christopher Barth)

State Governor Chris Christie will pull New Jersey from a regional cap-and-trade programme in the US Northeast by the year's end, claiming the scheme is not effective in reducing greenhouse gases and shows no signs of working in the future.

Christie, a Republican who took office in 2009, claims the 10-state Regional Greenhouse Gas Initiative (RGGI) “does nothing more than tax electricity, tax our citizens, tax our businesses, with no discernable or measureable impact upon our environment.”

At the same time, Christie announced a construction ban for new coal power plants in the state and pledged to close older existing ones.

“We need to commit in New Jersey to making coal a part of our past,” he says, reaffirming the state's ambitions to be an offshore wind leader.

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