TRADING of emission permits around the world will become a financial rort that fails to reduce carbon emissions - and will ultimately be scrapped in favour of a simple carbon tax, a former senior official in the Clinton administration has forecast.
Robert Shapiro, former US undersecretary of commerce and author of Futurecast, predicted that the US Senate would reject the emissions trading scheme proposed by President Obama, which is now before it.
There was a party at the last election that said if anything needed to be done on carbon emissions then a carbon tax was the least worst option - it is fiscally neutral also. Now, which party was that again? From memory it rhymed with "sacked" (which is what Mayor of North Shore City, Andrew Williams, will be in about 12 months).
Who would have thought ACT would be agreeing with the Clinton crowd.
Hat Tip: The Briefing Room