National Treasure, Maggy Wassilieff, commenting at Kiwiblog, reveals a Great Mystery, as she is wont to do, and smacks a four inch nail into a bit of Jarrah with one strike on the matter of Auctions associated with the New Zealand Emissions Trading scheme, the ETS.
Maggy links to an RNZ feature on the continually failing Auctions of the ETS, offering “New Zealand Units” (NZU’s) for emitters to purchase to offset their CO2 emissions.
Have your eyes “glazed over yet ?”
Next time anyone encounters a Confidence trickster, ask him/her are they participating in the rort to end all rorts.
The whole ungodly mess is continuing to remain largely a total mystery leaving this old skeptic wondering if there is an opening for a similar “con”, prosecution for which may be a long days night?
Who is counting the bloody trees that seem to underpin the entire fiddle!
For example I recently visited, via Google Maps, a satellite image of my old land holding on the Tauwera River east of Masterton, now sold to an Austrian Noblewoman for harvesting “forestry credits” from planting the entire weed free hill country in bloody pine trees.
I am led to understand that in around thirty years, the credits so generated will become minimal and it is likely that blot on the Wairarapa landscape will be abandoned to nature.
God help the lower reaches of the central Wairarapa River system as the decaying forrest disgorges detritus from the environmental disaster, so created.
I am well acquainted with Pine plantings around McLeans Island road west of CHC international that appear to be being cleared by Environment Canterbury, to be replaced with Native plantings.
The rort continues to mystify.
No Minister 
From the RNZ article…
The combination of falling volumes and a rising floor price is meant to keep the country on track for meeting its climate targets, by ensuring companies don’t get their hands on too many NZUs at once, which they can use to pollute.
Hmmmmm….
Nigel Brunel, the New Zealand managing director for trading firm Marex, says it’s not unusual internationally for a carbon auction to fail.
It’s been a long time since I did MicroEconomics 101 but I’m pretty sure that if a market is not clearing it’s because the price is too high.
Pity about that contradicting the primary objective of the artificial “market” that’s all about shrinking supply and rising floor prices.
NZ emits no CO2 at all. The native trees and our grass use far more CO2 than we produce. CO2 is not a pollutant, but a vital TRACE gas for plant photosynthesis and a lot more is needed as plants grow best at around 1,300 ppm. That is 3 times what we have now. Climate cooling, then warming and now climate change is a scam.
“my old land holding on the Tauwera River”
GD; Curious on your old landscape, as we have just committed to a small dirt patch on the Te Kanuka Rd corner.
Moderator can give you a direct email address if needed. Cheers, W
Done!