Kyoto botch-up could cost $1.2b

[Imported from Whale Oil Beef Hooked on Blogger]

The cost of a Government Kyoto Protocol botch-up could soar as high as $1.2 billion – more than double that estimated by the Treasury last month – a new report claims.

The Government last month admitted that it had miscalculated New Zealand’s greenhouse gas growth, for which it is liable under the Kyoto Protocol, resulting in an embarrassing $500 million bill rather than a $500m credit.

But the situation could be even worse, accounting giant PricewaterhouseCoopers (PWC) says.

It believes the liability will be more like $1.2b to $1.7b above the original estimate.

Whale Oil Beef Hooked (say it fast with an Irish accent), the Treasury got it wrong again!!!…..can these morons get anything right?

No wonder the government says there is no money for tax cuts, they keep giving it to third world nations by way of Kyoto payments.

Nick Smith says “The Government has been economical with the truth in using its own price for carbon rather than international prices,” he said. “It shows how serious this is going to be for New Zealand.”

They weren’t economical with the truth they just told big whoppers, pork pies, fibbys.

Carbon Pete says the report is overly pessimistic. Duhhh!!! What if they are not? What happens then? The Kyoto Police come calling and want their money and we say “Oh no,no no, the reports were overly pessimistic.” yeah right

We should bail until our major trading partners sign up and by then all the scientists will have worked out they were wrong too….I mean who gives a s**t if the temperature is a degree or two warmer, sounds fine by me.


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