A New Zealand Herald editorial on the emissions trading scheme and the political wrangling that will be required to get sufficient support for it.
An excerpt: (read in full here)
“A bipartisan policy on a subject as far-reaching as climate change would be highly desirable even if the Government had a majority on the issue. Investors in major sectors of the economy need to know that decisions will endure well beyond the life of this Government and the next.
“Targets may be set at Copenhagen for 2020 and the ultimate goal looks out to 2050. The longer this country dithers, the further it drifts behind the emission reduction commitments made at Kyoto for the period to 2012 and the more costly its catch-up will be.”
