CLIMATE TRAP TIGHTENING: AFRICA DEMANDS $300 BILLION WEALTH TRANSFER FROM WESTERN NATIONS

OSLO - Developing nations will need at least $267 billion a year by 2020 to fight climate change and adapt to droughts, heat waves and rising seas, according to African nations.

The figure, part of a new African text for negotiations on a U.N. climate treaty, is more than double current development aid from recession-hit rich nations which totaled a record $120 billion in 2008.

Benny Peiser, Financial Post, 8 April 2008

As a result of promoting environmental alarmism, Western governments find themselves trapped in a perilous, yet largely self-constructed catch. As long as climate change is elevated as the principal liability of industrial countries, as long as Western CO2 emissions are blamed for exacerbating natural disasters, death and destruction around the globe, green pressure groups and officials from the developing world will continue to insist that the West is liable to recompense its exorbitant carbon debt by way of wealth transfer and financial compensation.

Rudd told to scrap 'rabid' ETS scheme

The Rudd Government is being told to scrap its proposed emissions trading scheme (ETS) due to volatile economic conditions.

The Opposition says the Carbon Pollution Reduction Scheme must not go ahead because the model was developed before the onset of the global financial crisis.

With Australia officially teetering on the verge of recession, opposition spokesman on transport Warren Truss has labelled an ETS a "rabid dog that will cause havoc".

"The Treasury modelling which forms the basis of the Government’s claims about the impact of an emissions trading scheme is so out of date it should be junked," Truss says.
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"Quite simply, the existing Rudd ETS is a rabid dog that will cause havoc wherever it goes. It should be put down and given a quiet burial," Truss says.