May 7, 2008
US presidential candidates John McCain and Hilary Clinton vow to combat man-made climate change by curbing America’s CO2 emissions. They also vow to give American drivers a tax holiday this summer by suspending the federal gas tax. Voters are upset at the price they must pay at the pump.
New Zealand is a world leader in championing climate change reform. It will be exempting gasoline from the government’s emissions trading scheme until 2011 to dampen voter upset over rising living costs. New Zealand’s Kyoto protocol commitments exceed $1-billion — that’s how much New Zealand will be paying other countries for carbon credits.
New Zealand can’t hold a candle to the UK, however, which has plans to spend £3,000 per family, and possibly much
more, to combat climate change — far more than any other EU country. With the British stiff upper lip beginning to curl at the politicians who are forcing these costs on them to no evident benefit, politicians are in retreat. The ruling Labour Party is expected to trash the “bin tax” on householders who improperly recycle their waste and put off increasing announced gas taxes. The opposition Conservatives likewise plan to shelve green taxes if elected.
When the rubber hits the road, the carbon tax erodes.