There is an excellent editorial in the Dominion Post about the ETS. It points out that the ETS is not designed to reduce emissions, rather to work out who pays for our Kyoto obligation. And in paying our Kyoto obligation, it is taking money that could be being used to actually reduce emissions.
“There is no question that Labour is well-intentioned. Despite that, the legislation is part of a strategy that remains deeply flawed. It risks concentrating on the accountancy of who ends up picking up the bill for carbon emissions, rather than on reducing those emissions.
The reality is that the scheme, designed to meet New Zealand’s Kyoto protocol commitment, will end up increasing the prices that consumers pay for all manner of things, and damage the economy, without necessarily doing anything about reducing the amount of carbon emitted in New Zealand.”
Assuming humans are causing global warming, the ETS is a waste of money. Assuming humans are not causing global warming, the ETS is a criminal waste of money. You can’t win with this legislation. Yet both Labour and National continue to push it.
Hat tip: David Farrar