A November 2011 study[1] by the Analysis Group claims that the Regional Greenhouse Gas Initiative (RGGI) has showered $1.6 billion in “economic value added” to the ten participating states in the years 2009–2011. However, the study has several serious flaws, in that it (a) relies on massive consumer irrationality, (b) naively counts government expenditures as stimulating the economy without consideration of possible feedback effects, and—most ironically—(c) it has absolutely nothing to do with greenhouse gas limitations.
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