Eric Crampton asks, for the third time in three years, “is any country other than New Zealand both facing a binding Kyoto cap, by which I mean one that can only be met by costly efforts, and planning on meeting its obligations by buying international credits?”
Answer: no. It appears* we are the only country facing this kind of self-inflicted wound, and given our reliance on exports and our small size and distance from markets, the one that can least afford it.
So no wonder this Government plans to continue with it.
* * * *
* Eric: “It's possible that some other country is doing it; I just can't find any evidence that anybody is and can find evidence that some rather prominent ones aren't.”