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Tuesday, October 11, 2005

Independent review confirms Hodgson is an idiot

It's true. Read it for yourself.
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Posted by Gooner | 10/11/2005 01:22:00 PM

10 Comments:

Blogger darren said...

sounds like the billion dollar blunder may be an estimate on the low side- something not apparant in the headline.
Yes, Hodgson is an idiot, and even bigger one than previously imagined.
I wonder how the inquiries into his alleged assault of that woman protester are progressing?.

10/11/2005 01:39:00 PM  
Blogger JamesP said...

Remind me why voluntarily sending $500 million / year off-shore is such a good idea again. If we are that concerned about reducing our greenhouse gas emissions wouldn't it be better to spend that money right here in NZ thereby helping our economy, improving our immediate environment, and ensuring that it actually gets spent on reducing emissions?

10/11/2005 01:56:00 PM  
Blogger Adolf Fiinkensein said...

The Gummint is suffering from acute Hodgson's desease. What's the current market price of carbon credits. Why don't they admit the real price is closer to 1.5 bil than a mere half bil? The assumptions (eg pines versus scrub, for God's sake)are so bizarre they make global warming look as certain as death and taxes.

10/11/2005 02:01:00 PM  
Blogger ZenTiger said...

I'm with you on this one James. I'd even be able to handle resigning from Kyoto on the basis we spend the Kyoto tax on dedicated programs to reduce carbon emissions:

To start with perhaps Hybrid cars and home insulation (including double glazing or solar panels) have a tax credit component to them in the year of purchase - perhaps their GST rebated.

Not really the way I'd like to do things, but more palatable than burning the money, and palatable to Labour and Greens surely?

10/11/2005 02:13:00 PM  
Blogger MarcusD said...

And have a look at this:

http://www.stuff.co.nz/stuff/0,2106,3440369a13,00.html

Carbon credits going for NZ$6.42 per tonne on the open market.

10/11/2005 02:25:00 PM  
Anonymous Anonymous said...

I reckon we could see a collapse in the price of carbon credits. I mean, the people who need to buy them can just reneg on the Kyoto deal and save themselves a bundle.

This entire Kyoto farce is quite ridiculous. I mean, did we really agree that only NEW forests will be kyoto forests? How fucking stupid is that? Half our damned countryside is trees FFS!

Then, did our government really nationalise the carbon credits, removing ANY and ALL carbon credit based incentive to PLANT NEW TREES?

What bunch of retards would ever think this could work?

Kimble

10/11/2005 02:33:00 PM  
Blogger Jesus Crux said...

fuck, anyone could've confirmed that

10/11/2005 04:53:00 PM  
Blogger ZenTiger said...

Kimble said: "What bunch of retards would ever think this could work?"

Umm, they may well be the same ones that are working out how to spend around $60 thousand million tax dollars next year. Reckon they are up to the task?

10/11/2005 06:26:00 PM  
Anonymous Anonymous said...

"Reckon they are up to the task?"

Well, they were aiming to reduce carbon emissions and profit from carbon credits, and managed to fuck up both. So.... I would be more worried if they were "aiming for the guy next to me", figuratively speaking.

I mean, if they TRY to spend everything, then tax some more and spend that too, then just maybe they'll fuck it all up too, slash expenditure, lower taxes and reduce the overall size of government.

Kimble

10/11/2005 06:50:00 PM  
Blogger waymad said...

Or check this rather contradictory quote on the world price of carbon credits:

http://www.wbcsd.ch/plugins/DocSearch/details.asp?type=DocDet&ObjectId=MTY3Mjk
or one of the trading floors: www.co2e.com

1. There seems to be quite a variance: pointcarbon.com spot price is E23.20 last time I looked, vs the rather low figure noted in the comments above.

2. Arbitrage, anyone? If you can buy at x and sell at 2x?

So I agree with Adolf: this whole cock-up is going to wind up costing us squillions.

And the funniest part (if you possess the right sort of humour) is that we will be paying this partly to the Russians, who are busy drilling their tundra for oil they could then sell us, and who (as Mark Steyn noted, years ago) may just decide to use those hard-earned NZ pesos, to fund another missile gift to Baby Assad (see debka.com, conspiracy types).

It was Tom Waits who said, there's no devil, just God when He's drunk.

10/11/2005 08:47:00 PM  

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