Meet New Zealand’s ETS: Costly, Corrupted And Useless

By Andrew Bolt

New Zealand discovers what a useless and corrupt rort an emissions trading scheme really is:

New Zealand’s failure to cut greenhouse gas emissions has left taxpayers staring down the barrel of a Kyoto Protocol liability of at least $1 billion and possibly more than $5 billion, according to a book analysing National’s emissions trading system.

The authors of The Carbon Challenge – Victoria University researcher and economist Geoff Bertram and climate-change analyst and researcher Simon Terry – also describe the Government’s current ETS as “technically obsolete” and “beyond rescue” as a sustainable framework for tackling climate change.

They say the scheme will not make any inroads into cutting New Zealand’s gross emissions levels.

On top of that, the ETS was so unfair in the way it distributed benefits to high emitters with political influence, while placing a regressive quasi-tax burden on households, that there was a risk it could undermine the public’s willingness to support a stronger regime in the future.

Such was the scale of subsidies that only one in every five dollars charged under the ETS would become available to the Government to pay off the Kyoto liability. Households already bore half the total costs resulting from the ETS during its first five years while accounting for just a fifth of all emissions,

This is the kind of thing the Gillard Government still is promising us.

UPDATE

Scientists now say the tipping point will be in 2200. Tim Blair adds this to the expanding list of tipping points, including several we’ve reached already without the world falling in.

UPDATE 2

Marc Morano on the ever vanishing tipping point:

HOURS: Flashback March 2009: ‘We have hours’ to prevent climate disaster — Declares Elizabeth May of Canadian Green Party

Days: Flashback Oct. 2009: UK’s Gordon Brown warns of global warming ‘catastrophe’; Only ‘50 days to save world’

Months: Prince Charles claimed a 96-month tipping point in July 2009

Years: Flashback Oct .2009: WWF: ‘Five years to save world’

Millennium: Flashback June 2010: 1000 years delay: Green Guru James Lovelock: Climate change may not happen as fast as we thought, and we may have 1,000 years to sort it out’

TonyfromOz adds…..

As I have mentioned in many earlier posts, the introduction of an ETS is something on the scale that very few people realise. With emissions in the tens and hundreds of million of tons from even small Countries like New Zealand, and with even the ‘seemingly’ low price for the CO2 set by Governments, the amounts of money raised from this are astronomically huge, and this is a possible source of the huge amounts of money that the UN will levy on large emitting Countries so that money can be then given to still developing Countries so that they can then have access to what we take for granted, access to a constant well regulated supply of electrical power, and, in the main, those developing Countries will be using that money to construct, and wait for it, large scale coal fired power plants, because these are the only ones that can supply that constant amount of power 24/7/365.

Andrew Bolt is a journalist and columnist writing for The Herald Sun in Melbourne Victoria Australia.

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Tagged: Andrew Bolt, Climate Change Religion, Climate Change Scaremongering, Emissions Trading Scheme (ETS), Global Warming Alarmism, Global Warming Hype, The Kyoto Protocol, Tony, U.N. Framework Convention on Climate Change (UNFCCC), UN Intergovernmental Panel on Climate Change (IPCC)

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