Friday, July 27, 2012

NJ governor vetoes transparency and greenhouse bills for NY-NJ ports

Governor Chris Christie vetoed bills that would have increased financial transparency at the Port Authority of New York and New Jersey and required participation in the Regional Greenhouse Gas Initiative.

On the heels of reports that overtime costs at the port authority have reached $90 million along with how revenue from recent higher toll rates will be spent, one bill would have placed stricter financial scrutiny on the agency by requiring hold public hearings for the raising of any fees or tolls.

Governor Christie said he thinks the bill does not apply such regulations to all multi-jurisdictional authorities, such as for water and sewer commissions.

The second bill vetoed by the Governor was aimed at controlling carbon emissions.

"In withdrawing, I recognized that RGGI [Regional Greenouse Gas Initiative] has failed to create economic incentives for fossil fuel-fired electric generators to limit greenhouse gases," Gov Christie said.

"Energy producers, accordingly, were not incentivized to use lower carbon-based fuels, improve emission controls, or increase efficiencies in production. Indeed, RGGI did nothing more than impose a tax on electricity to be borne by New Jersey's overburdened taxpayers and ratepayers," he said.

For the full New Jersey Star-Ledger story: nj.com

More Newswire stories

STB moves on behalf of captive rail shippers

REPORT: Prologis could sell U.S. industrial properties worth $800 mil this year

Hunter Harrison makes comeback at a cost to CP

Today's Cargo News Archives

Click to browse past stories on these topics:

Logistics

Ports & Infrastructure

Economic Outlook

Environmental Impact

Technology