New Zealand puts green petrol scheme on hold
The New Zealand government said it will delay for two years adding liquid fuels such as petrol for cars to a national emissions trading scheme to cut greenhouse gas output because it would add to already skyrocketing prices.
Prime Minister Helen Clark said today the delay until January 2011 in imposing the emissions trading scheme - which could add up to 8 cents a litre or 2.08 New Zealand dollars (€1.06) a gallon to the price of petrol and diesel fuel - would help protect consumers.
Noting that gasoline prices had jumped 20.5% in the 12 months ended March 31, Ms Clark said high prices are projected to cut petrol consumption growth to zero between 2008 and 2012.
