Papers released publicly for the first time reveal the Government considered axing their mad carbon auctions.
But, and here comes the disappointment, they didn’t.
They considered dropping them because every time they mucked with the ETS, the confidence in a market they were trying to create was cratered.
This is not just them, but the previous Government also, who were wedded to the idea that an invented market could work, despite the fact it didn’t.
Multiple Governments have tinkered and fiddled. They have set prices and reset prices, but each and every auction has basically been a failure.
Just quickly, if you don’t follow this stuff, there are four auctions a year. You buy credits, if you're a polluter, to offset your environmental damage.
The trouble is no one turns up; there are no bids and the really bad thing about that is there is no revenue.
If this actually worked there could be $2 billion worth of income.
I can't remember how many times I've asked Governments about this, from Robertson to Watts. They all said the same thing, all defended it, and yet the irrefutable proof was, and is, they simply don’t work.
Credits can be bought and sold in a variety of ways. You can plant trees, you can trade other people credits, but when you are literally dealing with an idea that is invented out of thin air and you have no faith in anyway, why on Earth would you turn up and pay the Government money?
Obviously, the answer is you wouldn’t, and you didn’t.
Hence the Government got to the inevitable bit where someone other than me asked "do you reckon this thing is worth sticking with?"
Under Labour I was not surprised they didn’t kill them because that’s what ideology does to you. It blinds you to logic and common sense.
But the current lot you would have hoped knew better. Well, as the papers show, they almost did and yet couldn't quite get there.
So at the next auction, which by the way is September 8th, have a look and see what happens and call me if the answer is anything other than... nothing.
Mike Hosking is a New Zealand television and radio broadcaster. He currently hosts The Mike Hosking Breakfast show on NewstalkZB on weekday mornings - where this article was sourced.
This is not just them, but the previous Government also, who were wedded to the idea that an invented market could work, despite the fact it didn’t.
Multiple Governments have tinkered and fiddled. They have set prices and reset prices, but each and every auction has basically been a failure.
Just quickly, if you don’t follow this stuff, there are four auctions a year. You buy credits, if you're a polluter, to offset your environmental damage.
The trouble is no one turns up; there are no bids and the really bad thing about that is there is no revenue.
If this actually worked there could be $2 billion worth of income.
I can't remember how many times I've asked Governments about this, from Robertson to Watts. They all said the same thing, all defended it, and yet the irrefutable proof was, and is, they simply don’t work.
Credits can be bought and sold in a variety of ways. You can plant trees, you can trade other people credits, but when you are literally dealing with an idea that is invented out of thin air and you have no faith in anyway, why on Earth would you turn up and pay the Government money?
Obviously, the answer is you wouldn’t, and you didn’t.
Hence the Government got to the inevitable bit where someone other than me asked "do you reckon this thing is worth sticking with?"
Under Labour I was not surprised they didn’t kill them because that’s what ideology does to you. It blinds you to logic and common sense.
But the current lot you would have hoped knew better. Well, as the papers show, they almost did and yet couldn't quite get there.
So at the next auction, which by the way is September 8th, have a look and see what happens and call me if the answer is anything other than... nothing.
Mike Hosking is a New Zealand television and radio broadcaster. He currently hosts The Mike Hosking Breakfast show on NewstalkZB on weekday mornings - where this article was sourced.
5 comments:
“But the current lot you would hoped knew better. Well, as the papers show, they almost did and yet couldn’t quite get there!!”
So the penny may have finally dropped for Mike Hosking where his new best friend, Luxon, is cut from the same cloth as his Labour predecessor. Even a half baked investigative journalist would have realised this on day one.
Hosking’s softball fireside chats failed to uncover the awful truth that Luxon preserved the very policies we detested so much by the previous mob.
Different wing, same bird.
There is none more dangerous than those with good intentions.
What is Luxon's non negotiable Paris Accords bottom line objective?
To change the weather.
How?
With even more taxes, disincentives, penalties and with all of that, making us poorer.
Will it change the weather?
No. Not at all.
So, why on Gods green earth would anyone vote for a fool whose plan is so illogical, emotional and guaranteed to failure?
You don't.
And I'd go further. The poorer you make the population by doing this means luxury indulgences like climate change becomes a total irrelevance because people, thrown back to a cross between Victorian and medieval times, are simply trying to survive.
We need leaders who are mature and intelligent enough to walk away from this garbage and get on with life in our own way of improvement. Lee Kuan Yew style. We don't have that with our current sorry excuse for a PM, nor half of his woke caucus and from Labour left, its a desert of logic or common sense as climate change is such a topical emotional social media cause.
Luxon has proven he's yet another drone with no clue, no confidence, no imagination and no drive to shake off the climate madness and forge a road ahead. He is an out of date hipster trying to look relevant.
NZ could be the envy of the Western world if it abandoned the fashionable climate agenda and proved that quality of life is decided by common sense and not out of the closed mind of politicised academic echo chambers.
You really expected the current lot to do something sensible with regards climate change. Their mantra is follow the science, unless it disagrees with your beliefs.
The commentators through to (and including) CXH have called it appropriately. Just another nail in the coffin for National - at least until Luxon, and his like-minded sycophants are gone.
I totally endorse Pere’s comments at 7.49 am. I’m reminded by the most consequential world leader of our time stating to the UN’s general assembly that this is “the greatest con job ever perpetrated on the world”.
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