A new Kyoto total

May 5th, 2008 at 5:09 pm by David Farrar

Treasury has done their monthly update of our Kyoto liability and the huge cheque Pete Hodgson promised has now tipped over the $1 billion liability mark for the first time.

Quick, give Helen another medal.

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31 Responses to “A new Kyoto total”

  1. pdm (842 comments) says:

    There is a simple solution – withdraw from Kyoto.

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  2. bwakile (757 comments) says:

    maybe we can give the Russians some second hand trains instead.

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  3. Buggerlugs (1,609 comments) says:

    To save us from this growing liability, Cullen is loading members of the Defence Force on to trains with heavy machine guns and orders to shoot any cows seen near waterways. Aggrieved farmers will be promised reparations in the Budget (which will be subsequently cancelled), while the paper profit made from running trains 24/7 will offset Toll’s profit from the buyback. And if cows ever mount a coup anywhere in the world that has a rail network, our Defence Force will be the perfect peacekeepers.

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  4. Inventory2 (9,786 comments) says:

    Love your work Buggerlugs! The NZDF will just have to make sure that there are no statues of Buddha nearby!

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  5. Johnboy (13,335 comments) says:

    Huh Kyoto, toy trains, mere petty cash to Micky (The Gambler) Cullen, AKA “Drunken Sailor”. The real action is with the Cullen fund stake money currently $4,000,000,000 down according to Treasury estimates. Still easy come easy go, the rich pricks should be good to tap for a few more billion. Is that why that singing sensation the “Four Fugleys” chose Kennys music I wonder for the Liarbore conference theme song?

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  6. JSF2008 (422 comments) says:

    dont let the fuckwits loose on trademe

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  7. pdm (842 comments) says:

    Johnboy:

    Don’t panic about the Cullen Fund dropping a few %. That figure was probably as at 31 March and there has been good growth through April. As the fund is not going to be drawn on for 25 years or so there is plenty of time for recovery as long as the investment allocations and strategy are correct.

    The biggest risk to the Cullen Fund is the trend which is starting towards so called `Ethical Investments’. Give me investments in profitable companies anytime – I don’t want the fund to follow fads and I want the bulk of funds offshore which is where the growth will come from.

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  8. stuarts-burgers (97 comments) says:

    Pdm I agree with you last paragraph, once Mickey C, the Greens and other pollys start making investment direction decision’s the fund is at risk. Mickey C is a few million short for his new Hornby Set just get it from the nice folks at the Cullen Fund, Jeanette wants to build a Green Bio Mass Power Plant in Thames but can not interest investors just get the cash from the Cullen Fund.

    This is one reason I like Kiwisaver the pollys are not making the investment decisions I am making my choice the investment professional I think will do best for me.

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  9. Spam (586 comments) says:

    So: 1 billion for this, another 700 million for a train set.

    By my reckoning, that works out to $1,700 for my household (based on family of 4). And considering we’re rich pricks, its more like $5,000.

    Which, coincidentally was what the increase in my mortgage payments were this year, thanks to tax ‘n’ spend by Mickey et al.

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  10. Brian Smaller (3,915 comments) says:

    PDM – I wondered that as well. Why can’t we just say sorry, we are out of here. We can’t afford it.

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  11. mickysavage (786 comments) says:

    I have an idea. Let’s just default on Kyoto and do nothing at all about climate change! The planet may end up being screwed but we can have a few good years until we have to face the consequences. Why live up to international obligations or treaties. It is cheaper not to and we will save some money in the short term.

    By the way, wasn’t it Simon Upton and National that negotiated New Zealand’s acceptance of Kyoto?

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  12. Redbaiter (13,197 comments) says:

    “Let’s just default on Kyoto and do nothing at all about climate change!”

    I’m with you.

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  13. Pascal (2,015 comments) says:

    mickysavage: I have an idea. Let’s just default on Kyoto and do nothing at all about climate change! The planet may end up being screwed but we can have a few good years until we have to face the consequences.

    Yes. Because our 0.4% of 0.1% will so massively effect the worlds’ weather that we should push ourselves further towards third world status. Or was it 0.1% of 0.4%? Either way. It’s a number so small that a single fart would undo the billion dollar spend up.

    What is happening is our government is buying hot air. If they had done something sensible, great. But this?

    Look at it this way. If we had not signed Kyoto and committed to paying polluting nations for trying to affect our 0.000001% of the global weather, we would have had this billion dollars available to spend on actually doing something worthwhile.

    Instead. We’re going to end up paying some of the worst polluters because we’re not green enough.

    Makes you proud of Labour and the Greens, doesn’t it?

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  14. Grant (381 comments) says:

    Mickeysavage:”I have an idea. Let’s just default on Kyoto and do nothing at all about climate change! ”

    Finally, a leftie gets it.
    G

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  15. pdm (842 comments) says:

    Why default – be honest and withdraw.

    Oops forgot – Clark and co don’t do honesty.

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  16. Clunking Fist (25 comments) says:

    I have a medal for Helen: I’ve just struck it. The everyman’s award for Contribution Underwhelming the Nation’s Trust. It does require special delivery methodology, though. Fast expanding gas would propel this medal along an elongated cylindrical ceremonial instrument.
    I guess it would be awarded semi posthumously. And from a distance.

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  17. Pascal (2,015 comments) says:

    Clunking Fist, no man. Just no. Whilst Labour is doing their best to transform us into a one party state we are still a democracy and will have a chance to change the government in this year. Even joking about assassination is just … sick.

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  18. infused (612 comments) says:

    Funny seeing The Standard Party staying away from this one.

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  19. Bevan (3,965 comments) says:

    By the way, wasn’t it Simon Upton and National that negotiated New Zealand’s acceptance of Kyoto?

    Unlike Labour, we on the right don’t mind admitting our mistakes and correcting our positions…

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  20. Pascal (2,015 comments) says:

    infused: Funny seeing The Standard Party staying away from this one.

    They stay away from everything that Labour does wrong. But hey, maybe we’ll get a post today about how John Key should have smiled when Helen Clark said something. Or another equally inane post on John Key’s hairstyle. Or whatever they’re trying to use to destroy his image today.

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  21. gd (2,286 comments) says:

    Considering 97% of the emissions are non man made one can only marvel at the idiotic stupidity of those who seek to wreck the worlds economy and see millions of poor starve to death.

    they remind me of King Canute and have the same brain power.

    Even their so called experts cant all agree on the quantum of the problem and some have changed their minds.

    And the real doozy is labelling those of us with a brain who prefer to not rush in where angels fear to tread as DENIERS.

    Well lets invoke Godwins Law against them on the grounds that DENIERS has certain historical significance.

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  22. gd (2,286 comments) says:

    You can tell the Standard are getting desparate The laugh is the more JK is attacked the higher his ratings go.

    And the really funny part is that the wimmin are turing off the Beloved Leader and to JK.

    the Socialists have seen the light and it is a big choo choo coming at them Thats why they have bought it adn will buy the farm later in the year.

    the really sad thing is that they are destroying the economy in a scorched earth policy so they can blame the Nats or the next 3 years.

    Again I must asked why we dont have IQ and politcal knowledge tests mandatory before any citizen is allowed to vote.

    Hell given the numbers that dont even know theres an election this year thats the proof of the need.

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  23. bruceh (101 comments) says:

    Bevan quoting mickysavage: ‘By the way, wasn’t it Simon Upton and National that negotiated New Zealand’s acceptance of Kyoto?’ “Unlike Labour, we on the right don’t mind admitting our mistakes and correcting our positions…”

    So Bevan, you think I can be confident that an incoming National led govt will not only drop Kyoto but also take another Upton/National creation, the RMA, by the scruff, turn it on its head and shake out its flawed assumptions and put back together something way better? Like something that recognises the primacy of property rights under law and something that sets up much better incentives for desired environmental outcomes? I doubt this National lot have any appetite for taking on the protected vested interests of state and local govt bureacracies.

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  24. Murray (8,835 comments) says:

    This isn’t reckless spending, this is part of a plan. A plan to piss away Nationals budget before the election.

    As bad as Muldoon, not as bad as Clark.

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  25. Alces (310 comments) says:

    Govts supporting this ideological scam will be history.

    From Bolta…..

    “Fran O’Sullivan says New Zealand might regret signing up to a carbon trading scheme like the one Kevin Rudd wants for Australia:

    But my pick is that (Finance Minister Michael) Cullen will be concerned at the raft of reports by respected forecasters like Infometrics and the Institute of Economic Research that say the emissions trading scheme will have a major economic impact: 22,000 jobs gone by 2012, wages down by $2.30 an hour by 2025 and a cost to households of $600 a year by 2012, rising to some $3000-$5000 a year by 2025, depending on the international carbon price.

    Then there’s the price of the carbon credits New Zealand must buy to offset its failure to meet its Kyoto targets for cutting emissions:

    Greenhouse Policy Coalition executive director Catherine Beard said Treasury had revalued New Zealand’s Kyoto Protocol deficit to be worth more than $1b on a price of $22 per tonne of carbon—a 165 percent increase in the price of carbon over three years.

    And all to “stop” a warming that seems to have stopped already – in 1998.”

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  26. Clunking Fist (25 comments) says:

    Pascal, shame on you: you are making jokes a thought crime.

    :^)

    Anyway, it’s not an option: too much greenhouse gas is emitted in the firing of guns.

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  27. policyparrot (10 comments) says:

    “Treasury has done their monthly update of our Kyoto liability and the huge cheque Pete Hodgson promised has now tipped over the $1 billion liability mark for the first time.”

    Therefore, DPF, since National wont scrap Kyoto, or said it will delay implementation of any sectors not already signalled by Labour, the question is, not how big the liability is, or whether it exists, since Maurice Williamson and Lockwood Smith are obliged to think so…

    But how we in fact lower carbon emissions so that our liability shrinks. Anything other opinion about the validity of such expressed simply adds to the problem, with all the hot air generated further contributing to anthropogenic global warming. While the science of climate change may be indeed be a theory, so in fact the theroy of supply and demand, and we’re not disputing the validity of that, now are we?

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  28. Pita (354 comments) says:

    October 2004 “Climate Change Minister Pete Hodgson said not to ratify would be to set fire to a very large cheque” …is it too late to say burn the fucker up?

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  29. Murray (8,835 comments) says:

    Clunking. Go green, get a ballista!

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  30. Bevan (3,965 comments) says:

    So Bevan, you think I can be confident that an incoming National led govt will not only drop Kyoto but also take another Upton/National creation, the RMA, by the scruff, turn it on its head and shake out its flawed assumptions and put back together something way better? Like something that recognises the primacy of property rights under law and something that sets up much better incentives for desired environmental outcomes? I doubt this National lot have any appetite for taking on the protected vested interests of state and local govt bureacracies.

    Shit dude, didnt mean to make you upset by making your socialist buddy look bad……

    Heres a question for you: Who would do a better job rectifying the RMA, National or Labour?

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  31. Murray (8,835 comments) says:

    Oh Beaven don;t give yourself too much credit. the socialists only have to speak to look bad.

    Showing up doesn’t help either.

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