Carbon trading or TEQs

In New Zealand we are still promoting Carbon Trading, which is unlikely to be of significant benefit to anyone except the traders. A TEQ scheme on the other hand, allows people who can get by while consuming less energy are rewarded twice, with reduced fuel costs and more TEQ units to sell – unleashing the collective genius of our communities.

Sunday morning, reading Shaun Chamberlain's "Transition Timeline" I came across this 2018 newspaper headline.

It was in the transport section which described a realistic vision of a lower energy future driven by TEQ's (Tradeable Energy Quotas). Tradeable Energy Quotas are an energy rationing system to enable nations to reduce their emissions of greenhouse gases along with their use of oil, gas and coal, while ensuring fair access to energy for all.

A TEQ scheme allows people who can get by while consuming less energy are rewarded twice, with reduced fuel costs and more TEQ units to sell. With this incentive the collective genius of our communities can be unleashed. I wonder why in New Zealand we are still talking about Carbon Trading, which is unlikely to be of significant benefit to anyone except the traders.

See the following two videos which offer thoughts on why trading polluting practices is unlikely to be an effective mechanism for reducing emissions.

The first is a delightfully humorous expose done by two young men, who use an analogy to reveal the absurdity of this approach. The second is from Annie Leonard, who presents a compelling critique in the same style in which she presented that fabulously insightful "Story of Stuff".