"New Hampshire Governor John Lynch on Wednesday vetoed a bill that would have ended the state's participation in a regional greenhouse gas reduction program, citing concerns about environmental and economic competitiveness.

Lynch, a Democrat, said pulling out of the Regional Greenhouse Gas Initiative (RGGI) would cost the state $16 million in revenue from the distribution of funds raised by regional carbon auctions -- money that could be used to increase energy efficiency and create jobs.

"I am vetoing this legislation because it will cost our citizens jobs, both now and into the future, hinder our economic recovery, and damage our state's long-term economic competitiveness," Lynch said in an e-mailed statement.

The RGGI, which includes 10 New England and Mid-Atlantic states, established limits on carbon dioxide emissions, thought to be a key factor in global warming."

Jason McLure reports for Reuters July 7, 2011. [2]