New Jersey Governor Chris Christie (R) announced May 26 that the state will withdraw from the Regional Greenhouse Gas Initiative at the end of the year. In his announcement, Governor Christie said that emissions allowances for the regional trading program are not expensive enough to change behavior and encourage different choices for fueling power plants. The state has participated in 11 auctions since 2008, generating $113 million for energy efficiency programs, subsidies for solar power installations, and reforestation projects, and roughly $65 million was diverted in fiscal year 2011 to balance the state budget. Nine northeastern and mid-Atlantic states will remain in the cap and trade program for power companies.