Gianaris' Plan For State $ To Combat Global Warming
BY JOHN TOSCANO

Sensing "a golden opportunity" for New York State to combat global warming, Assemblymember Michael Gianaris is spearheading an effort involving 25 Assemblymembers to assure that up to $250 million the state will collect from a program to reduce carbon dioxide emissions is dedicated to energy conservation and efficiency efforts.

The Astoria lawmaker, a leader in the effort to produce cleaner power and improve the environment, said this is a great chance not only to reduce global warming, but also to reduce dependence on foreign oil, "and we dare not miss it".

Gianaris' method of acquiring the quarter-million dollars was outlined in a letter he sent to Assembly Speaker Sheldon Silver, which was signed by 25 of his Assembly colleagues.

In the letter, Gianaris (D- Astoria) advised that the 2007- 08 state budget now being negotiated should include language that sets up a program to collect and spend the proceeds from the sale of all environmental emission allowances- specifically the proceeds from the annual auction of carbon dioxide emissions allowances associated with the Regional Greenhouse Gas Initiative (RGGI).

Gianaris explained that the RGGI is an eight-state pact in the Northeast to stabilize and reduce emissions of carbon dioxide from power plants. Regulations that implement RGGI, he said, are currently being promulgated by the New York state Department of Environmental Conservation (DEC).

A key element of the DEC proposal, he said, is to auction 100 percent of the 64.3 million carbon dioxide emissions allowances each year. Doing so, Gianaris explained, could provide significant new annual revenue- potentially more than $250 million per year- to reduce emissions of climate- altering pollution, while reducing consumer electric bills.

While the governor's proposed budget does not contemplate the receipt or use of these revenues, the Assembly should see to it that the program to collect these funds is included in the budget, Gianaris said.

The Astoria lawmaker stated, "These revenues should be used to increase investment in energy efficiency, energy conservation and clean energy development, with a small portion used to advance additional air quality goals. This would result in decreased local and statewide electricity demand and would place less of a strain on the aging power transmission system, which caused outages for more than 170,000 Queens residents last summer."