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| SUMMARY | CARBON STOCKTAKE | 2002 FARMED LAND |
                                 
  AN ANALYSIS OF THE CARBON VALUE BEING EXPROPRIATED FROM LAND OWNERS  
  Note: Elements of this report change when the assumptions on the next page are altered.  
  Just when we all thought that the nationalisation of privately owned assets belonged to another era, the Government has introduced a Bill that makes any previous nationalisation look insignificant!  
   
     
  The Bill relates to climate change and it creates a new property right (an NZU, equivalent to one tonne of carbon dioxide).  Having created this "asset" the Bill then seeks to nationalise all the carbon sequestered in trees planted before 1 January 1990. Anyone owning land with exotic forest has to acquire around 840 NZU's to de-forest. See below.  
   
     
   
   
   
   
   
   
   
   
   
   
   
   
   
  We then come to the annual sequestration 'give-away' by the government. Together the pre-1990 exotic forest and re-  
   
   
   
     
  Deforestation liability calculator       User calculations        Decimal places:  
  (Figure are user-defineable)         =  
                 
  Pre-1990 planted forest area   ha         =  
                 
  Estimated future price of NZUs $           =  
                 
  Tonnes of sequestered CO2/ha         =  
                 
  Government's NZU allocation*                    
     
          Re-planting liability @ $ / ha  
    Per hectare      
         
    Total   million   Total million  
  * Assuming they have been retained and not sold      
  It should be noted that there are forestry leases, particularly for Maori land, where the lessor gets a rental & a small share of the stumpage, eg between 4% and 10%.  In recent years that sum could total as little as  $150 to $1,000/ha.  There are therefore insufficient proceeds to even pay for re-planting let alone for purchasing sufficient carbon credits to deforest.