1
00:00:00,040 --> 00:00:01,960
Speaker 1: Now, if you follow the carbon market, and you should,

2
00:00:02,320 --> 00:00:04,280
Speaker 1: it is yet another lesson in the object failure that

3
00:00:04,360 --> 00:00:07,520
Speaker 1: almost certainly results in gerrymandering markets. Four times a year

4
00:00:07,800 --> 00:00:10,360
Speaker 1: you get to bid for credits offsets to counter your

5
00:00:10,480 --> 00:00:12,959
Speaker 1: polluting are you do this because we've signed up to

6
00:00:13,000 --> 00:00:14,680
Speaker 1: Paris and made a bunch of promises we were never

7
00:00:14,760 --> 00:00:17,040
Speaker 1: going to be able to keep. By selling credits, the

8
00:00:17,079 --> 00:00:20,560
Speaker 1: government has the potential income of about two billion dollars

9
00:00:20,600 --> 00:00:23,080
Speaker 1: a year, except little of any of that happens because

10
00:00:23,079 --> 00:00:25,880
Speaker 1: buying large people don't turn up or bid, and they

11
00:00:25,880 --> 00:00:28,320
Speaker 1: fail to show up, broadly speaking, because people don't believe

12
00:00:28,360 --> 00:00:30,400
Speaker 1: a word the government says on climate. It's not just

13
00:00:30,440 --> 00:00:33,199
Speaker 1: this government. Last one was even worse. They've tried to

14
00:00:33,200 --> 00:00:35,519
Speaker 1: set a price for carbon credits, remembering of course that

15
00:00:35,640 --> 00:00:38,760
Speaker 1: this is this is entirely invented market, so it's data

16
00:00:38,800 --> 00:00:41,000
Speaker 1: to board stuff at the best of times, anyway of

17
00:00:41,080 --> 00:00:43,360
Speaker 1: late the price was set at fifty two dollars, then

18
00:00:43,400 --> 00:00:46,000
Speaker 1: it collapsed to thirty three before settling back to about

19
00:00:46,080 --> 00:00:50,120
Speaker 1: forty something at the moment enter Simon Watts, climate Minister. Now,

20
00:00:50,400 --> 00:00:52,960
Speaker 1: he doesn't normally talk about the market because that's interference.

21
00:00:53,040 --> 00:00:55,000
Speaker 1: The same way. The Prime Minister doesn't talk about the

22
00:00:55,000 --> 00:00:57,680
Speaker 1: Reserve Bank, but Simon has talked about the market and

23
00:00:57,760 --> 00:01:00,120
Speaker 1: has done that because well, the government are panics. He

24
00:01:00,200 --> 00:01:03,280
Speaker 1: issued a reassurance that despite all the changes they're making

25
00:01:03,320 --> 00:01:05,760
Speaker 1: around climate, the carbon market, the ETS, there's still a

26
00:01:05,800 --> 00:01:08,560
Speaker 1: thing we are still committed. It is still going to happen.

27
00:01:08,640 --> 00:01:13,679
Speaker 1: His commitments, he said, Ah, firm. Except Simon, that's the problem.

28
00:01:13,920 --> 00:01:16,240
Speaker 1: No one believes you. This is a government that says

29
00:01:16,240 --> 00:01:18,760
Speaker 1: one thing, acts the other. Now, don't get me wrong,

30
00:01:18,800 --> 00:01:20,880
Speaker 1: what roughly they're doing is the right thing to do.

31
00:01:20,920 --> 00:01:23,040
Speaker 1: Because the tide has gone out on climate. The promises

32
00:01:23,080 --> 00:01:24,520
Speaker 1: are a bust. No one's going to make it to

33
00:01:24,560 --> 00:01:27,240
Speaker 1: next zero. So the answer is to stop pretending you are.

34
00:01:27,600 --> 00:01:29,600
Speaker 1: I mean, science might come to the rescue, and if

35
00:01:29,640 --> 00:01:32,960
Speaker 1: it does, fantastic. But the governmental promises around carbon and

36
00:01:33,000 --> 00:01:35,759
Speaker 1: the ETS and the car import duties, it's all bs.

37
00:01:36,040 --> 00:01:38,679
Speaker 1: And there's no better proof of that than a carbon market,

38
00:01:38,800 --> 00:01:41,920
Speaker 1: the market where money like rubber hits the road. The

39
00:01:41,959 --> 00:01:47,200
Speaker 1: market is calling the government's bluff carbon credits or snake oil. Ah,

40
00:01:47,319 --> 00:01:52,440
Speaker 1: same thing. No one's buying, figuratively or literally. For more

41
00:01:52,480 --> 00:01:55,600
Speaker 1: from the mic, asking Breakfast. Listen live to news talks

42
00:01:55,600 --> 00:01:58,800
Speaker 1: it'd be from six am weekdays, or follow the podcast

43
00:01:58,840 --> 00:01:59,720
Speaker 1: on iHeartRadio