WolfeNotes.com

Today, sadly, I am reminded of one of the most famous quips in American political history.

During the 1988 campaign, Democratic vice-presidential candidate Senator Lloyd Bentsen humiliated Republican vice-presidential candidate Senator Dan Quayle during the vice-presidential debate.

Quayle had implied that he was as qualified as President Kennedy.

Bentsen immediately took strong offense to that comparison and brought down the roof in applause with this line:

“Senator, I served with Jack Kennedy: I knew Jack Kennedy; Jack Kennedy was a friend of mine. Senator, you’re no Jack Kennedy.”
http://en.wikipedia.org/wiki/Senator,_you_are_no_Jack_Kennedy

I am reminded of this episode because Governor Corzine just signed the Regional Green House Gas Initiative (RGGI) bill into law.

In contrast to the Governor’s recent ascension to a world stage at a global warming summit in Portugal, there was no big press release on this one – I had to scroll through a list of dozens of bills the Governor signed over the weekend to find it listed at the bottom of this press release: Jan-14-08 Governor Corzine Signs Legislation
http://www.nj.gov/governor/news/news/approved/20080114b.html

The RGGI bill was the first real test of Corzine’s commitment to implementing the aggressive “Global Warming Response Act” (GWRA) emissions reduction goals the Governor signed into law last July. The GWRA set emissions reduction goals of 20% by the year 2020, and much steeper 80% reductions by 2050.

With much fanfare, last July, Corzine signed the GWRA in the Meadowlands with former Vice President Al Gore, environmentalists, and the national media in tow. Just days later, Corzine issued an Op-Ed touting his global warming leadership, including an explicit Quayle like allusion to President Kennedy. Corzine wrote:

“More than 40 years ago, President John F. Kennedy rallied the nation to put a man on the moon. The challenge seemed overwhelming at the time, but…America proved up to the task…

Today, the reality of a changing climate should serve as a clarion call to a new generation. Much like the space race of the 1960’s, global warming represents a unique economic opportunity…I’m proud to say that New Jersey has met the challenge.

On Friday, I signed a bill adopting ambitious goals for the reduction of green house gas emissions in New Jersey….

We must act now to seize this day…America is uniquely suited to these challenges. We have the people,, the technology, and all of the economic advantages.

What those of us in public life must supply now is leadership and the will to act.”

Read full text of Corzine Op-Ed:
http://www.nj.gov/globalwarming/home/documents/pdf/070726_claims.pdf

No Governor, it is clear now that New Jersey has not yet met the challenge.

And by signing an extremely flawed RGGI bill, the Governor and the Legislature have failed their first real test of leadership on global warming.

In theory, the RGGI initiative was supposed to set up a pollution “cap and trade” system, auction pollution credits, and establish economic incentives to reduce emissions and promote renewable energy alternatives. Money collected from the auction of pollution credits was to fund energy efficiency and renewable energy programs.

However, Corzine bowed to political pressure by polluters to reduce the cost of the program.

As a result, the law sets the caps far too high – above actual emissions – and the pollution price far too low. Therefore, it does virtually nothing to reduce current green house gas emissions. In fact, contrary to Corzine’s 20% reduction goal, the RGGI law allows approximately a 10% INCREASE in current emissions.

The bill sets pollution emissions allowance prices so low that they will assure that renewable energy sources like wind and solar will not be price competitive. Worse, at least 60% of the paltry $40 million in auction revenues will go to major polluters, like oil refineries and other industrial polluters.

Moreover, the law sets up a completely unrelated new process which will allow the big utilities like PSEG, JCP&L, and Atlantic electric to profit at the expense of consumers. Residential electric bills will include a new component to subsidize the power companies.

These flawed provisions led the Star Ledger, the Bergen Record and the Courier-Post to editorialize in opposition to the bill and urge the Governor NOT to sign it. For editorials, see:
http://blog.nj.com/njv_bill_wolfe/2008/01/weak_global_warming_bill_goes.html

In a November 27, 2007 post, I laid out 7 objective criteria and standards to measure whether the introduced version of the RGGI legislation would advance the Governor’s legislative emissions reduction goals. See: Global Warming showdown in Trenton?
http://blog.nj.com/njv_bill_wolfe/2007/11/global_warming_showdown_in_tre.html

The RGGI version of the bill was gutted by a Senate substitute. See: Profiles in courage on Global Warming? http://blog.nj.com/njv_bill_wolfe/2007/12/profiles_in_courage_on_global.html#more

Instead of exercising leadership in legislative negotiations, the Corzine Administration caved in to political pressure from business and energy industry lobbyists..

Of course, this retreat flies in the face of multiple press releases that tout the Governor’s leadership on global warming – all now amounting to sound and fury, signifying nothing. For examples, see:

Corzine Portugal iCap Statement:
http://www.nj.gov/governor/news/news/approved/20071029d.html

Corzine Global Warming page:
http://www.nj.gov/globalwarming/index.shtml

N.J. Joins Suit Against EPA Seeking Right to Combat Global Warming
14 Other States File Against EPA Over Denial of California Emissions Standards (1/2/08)
http://www.nj.gov/oag/newsreleases08/pr20080102b.html

AG Announces Suits Against EPA over Failure to Act on Global Warming (11/8/07)
http://www.nj.gov/oag/newsreleases07/pr20071108a.html

Corzine Administration on Global Warming (7/11/07)
http://www.nj.gov/governor/news/news/approved/20070711b.html