The Climate Change amendment (zero carbon) bill which will have major implications to our way of life is being rushed through Parliament and watching it progress is as horrifying as watching a train wreck in slow motion.
The fact that Phil Goff intends funding Labour’s $800 million policy of paying R D tax credits by bringing agriculture’s biological emissions into the ETS two year early in 2013 raises some very interesting questions about the mechanisms of the ETS and its purpose.
The Emission Trading Scheme was put in place to help New Zealand meet its obligations to the Kyoto Protocol. The ultimate purpose of that Protocol and the ETS is to reduce emissions of greenhouse gases that some say may be causing global warming. While I find it extraordinary that our Government is prepared to impose costs on its people based on nothing more than a theory, the focus of my concern is the way in which the ETS treats livestock emissions of methane. While the debate over global warming may never be finished, the way livestock emissions of methane are treated clearly demonstrates the folly that is the ETS.