The months of flatlining at the Chicago Climate Exchange (CCX) should be a hint to the rest of the world that carbon trading is dead. Time to take it off life support. Even at 10 cents a ton, nobody wants it. At it’s peak in July 2008, it traded for $7.50 per ton of CO2.
See who is on the CCX advisory board here
Token Gesture Alert as the government of New Zealand, unable to think straight thanks to years of green environmental propaganda, brings in its emissions trading scheme.
New Zealand emits about 0.1% of global CO2. So even if New Zealand reduced its emissions to zero overnight, AND it were demonstrated that the climate sensitivity is large enough to notice (which it hasn’t been), it would make not the slightest bit of difference to the climate.
Not only that, but I hardly think that China and India are going to look at New Zealand, and, wracked with guilt and remorse by the plucky little country’s valiant efforts to save the planet, stop their coal fired economies in their tracks. Not on your life. China and India are far too busy building their prosperity and lifting their populations out of poverty. It’s only wealthy countries can afford the luxury of pointless environmental gestures like this.
So the only result will be higher prices for poor Kiwis. Everything will cost more: electricity, petrol, groceries, consumer goods – everything – since everything (virtually) requires energy for its production or transportation. As the ABC reports:
New Zealanders are bracing for higher electricity and fuel prices with the introduction of an emissions trading scheme (ETS).
From today New Zealanders will pay around three cents a litre more for fuel.
Electricity bills are set to increase by up to 5 per cent as companies pass on the costs of buying carbon credits to consumers.
Environment minister Dr Nick Smith says New Zealand had to act because its greenhouse gas emissions have increased by 25 per cent over the past 20 years. [So from absolutely tiny, to slightly less absolutely tiny]
“It’s actually about New Zealand starting the path, starting the change to a less carbon intensive economy,” he said. (source)
Good luck with that. Just watch your industries move offshore, and your economy decline for no purpose whatsoever.