Krudd has made a complete hash of explaining what a 5% cut in greenhouse gases actually means. One set of numbers gets given to one group, saying that its really a 34% cut (allowing for population growth) and the rest of us get told 5%.
If he keeps fiddling with the numbers like this, he'll turn this into another Enron.
Speaking of which, Enron made most of its money from trading electricity. If they hadn't gone bust, they would have been the first company into the carbon trading market. That puts a bit of perspective on the whole thing.
The Greens, as usual, are saying nothing about population growth through migration. If you want a good backgrounding on this, listen to this podcast on Counterpoint. It'll only be available for another week or so, so get in now.