10 reasons why NZ should not have an ETS

In Australia, Paul Sheehan (http://tinyurl.com/3nf458g) has listed 15 reasons to oppose a carbon tax. 10 of those are readily adapted to the NZ ETS: 

1. There is no mandate for a world-leading ETS. It was expressly singled out by Key during the last election as a no-go, which helped elect his government.

2. The ETS will have almost zero effect on global carbon dioxide emissions.

3. It is a tax on everything, as higher energy costs flow through the economy.

4. It is regressive, harming households and small businesses on tight budgets.

5. It is a massive exercise in tax churning.

6. Large-scale carbon trading is inherently vulnerable to fraud, manipulation and speculation, as seen in Europe.

7. It introduces a new layer of complexity to the economy.

8. New Zealand contributes about 0.2 per cent of global carbon emissions and any local measures are irrelevant without a global carbon tax regime.

9. Solar and wind power generation are prohibitively expensive and cannot meet baseload power needs.

10. The ETS represents a massive transfer of wealth and power to the bureaucratic class which benefits most from a new labyrinth of compliance and compulsion.