Taxing the very air we breathe

New Zealand’s Emissions Trading Scheme (ETS)—will it reduce global warming?

We breathe carbon dioxide and without it we would die. Growers routinely add it to greenhouses (four times the normal level) to make the plants grow better. Forests are growing measurably faster as the level of atmospheric CO2 climbs.

But human emissions of CO2 are allegedly warming the planet. Inducing a sense of guilt for driving a car or turning the lights on hasn’t reduced emissions. An alternative way to force emissions down is to create emission licences (or carbon credits) and then buy and sell them to each other. Entrepreneurs love it. New Zealand is setting up such a scheme right now. Continue Reading →