Posted by: Grant | November 4, 2012

New Zuland ETS – FAIL


REUTERS
New Zealand carbon scheme on hold as prices plunge
* Government says waiting for post-Kyoto pact before setting new targets
* New Zealand carbon prices plummet
* Policy proposals likely to keep carbon prices cheap
By Gyles Beckford
WELLINGTON, Nov 2
http://www.reuters.com/article/2012/11/02/newzealand-carbon-idUSL3E8LP1E220121102

” …New Zealand’s scheme is the only national programme that allows polluters to meet all emissions obligations with U.N.-backed carbon offsets. Europe and Australia have imposed strict limits on the use of U.N. offsets.
The U.N. offsets, called Certified Emission Reductions (CERs) hit all-time lows last week, touching 71 euro cents a tonne on limited European demand due to the economic crisis. CERs have fallen from around 13 euros in June last year.
Unlimited imports of the offsets have driven the price of NZUs to NZ$2.50 ($2.06) a tonne, down from NZ$20 18 months ago.
By comparison, Australia’s carbon tax, which started in July, is A$23 ($23.8, NZ$29) a tonne with no imports of UN offsets till 2015. European pollution permits called EUAs are trading around 8.2 euros ($10.60, NZ$12.90) a tonne… “

This Reuters greenie then cannot resist shoring up the “Climate” cause with this bullcrap

” ….As New Zealand eases measures to curve carbon emissions, others in the region are rolling them out. South Korea is launching a scheme in 2015, while China is embarking on seven pilot programmes.”

The links he cites to this bland and false claim go nowhere.
“Others in the region” are appeasing green demands with some other tokenistic schemes while the consumption of fossil fuel continues to soar almost exponentially in the region.

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