New Zealand is coming face to face with the costs of the Kyoto Treaty. Cyber News service, reports that instead of earning carbon credits, as touted, taxpayers will have to shell out nearly a billion NZ dollars to pay for it. The realization has startled the left-leaning residents who tend to brag about their “green” credentials.
The pressure is on from New Zealanders to rethink the approval of the enormously costly treaty. If the costs go up as they usually do, the Labor government who approved the treaty may be looking for jobs.
New Zealand’s current deficit is the worse in 19 years. Implementing Kyoto would increase that deficit by 10% all by itself. Think what the costs would be for America if Kyoto were implemented here. Comparing the two economies could cost America more than 1-trillion dollar. Are we ready for that, plus the lost jobs that would inevitably follow?