$190m paid, carbon market still shaky

“And some big exporters were issued most of their units at no charge.” Yes, some up to 90% of their emissions under EITE (Emissions Intensive Trade Exposed) scheme. We give big multinational polluters free annual units and even some eye-watering cash from the public purse for their electrification. Why can’t they pay for their own electrification or organise their own “renewable” energy sources, instead of increasing the load on our electricity network? But I am digressing here, let’s get back to the ETS, which in my opinion is just a gravy train which has no benefit for the environment or for people. It has enriched consultants and carbon traders and increased the number of bureaucrats in several Govt ministries.
In 2017, of the 5.6 million free units that were allocated that year under EITE, iron and steel received 1.5 million units and aluminium smelting received 1 million.
And there are some nut cases out there who want our farmers to pay for carbon units - in spite of all their grass, soil and trees sequestering huge amounts of CO2 - while they produce food, not only for Kiwis, but also globally. The money from their exports comes back to NZ, not like those big businesses where it goes to their overseas owners. As far as pollution goes, most people prefer to live next to a farm than a steel factory or aluminium smelter!
Tell me if there is nothing wrong with the above picture.
I will know sanity has prevailed when the ETS is scrapped altogether! And hopefully before it bankrupts our country. In the meantime, EITE needs to be scrapped straight away! And no more money to multinationals for electrification! That was Labour's way of alleviating poverty in NZ, I guess!