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18 minutes ago
“Tony Abbott almost singlehandedly put the Emissions Trading Scheme on life support. Now Copenhagen has killed it stone cold, motherless dead.And just in case the reader is still confused Terry shines more penetrating sunlight ont he issue,
Climate change minister Penny Wong, who is too emotionally committed to it to accept that truth, will carry it into the new year.
A responsible prime minister would give the ETS a decent Christian burial. And it has to be a formal state funeral.
A Treasury that was not so absolutely compromised by a bizarre combination of religious zeal, institutional pomposity and basic incompetence would be gently but persistently and emphatically advising the government that the ETS was no longer a good idea. If indeed it ever was.” ...
“Two things simply cannot be denied about Copenhagen. Australia locking in its ETS wouldn't have made the slightest difference to the outcome. Not even Kevin Rudd is delusional enough to believe that if only he and Penny had been able to arrive with their bit of paper, China would have agreed to destroy its future.
Secondly, but for Abbott's aggression -- helped in no small part by Malcolm Turnbull's overweening arrogance -- we would have been locked into a bad policy and a disastrous process, which is even worse. The ETS.
It's time the business community woke up from its dozy slumber, with the doziest of all being the Business Council.
Now it would only be the certainty of the grave. That of carbon export and permit volatility and rip-offs.
That's the export of jobs, businesses and investment to other places that had no price on carbon dioxide. Those "other places" are essentially the rest of the world except for Europe -- which doesn't matter and in any event has totally debased the permits system, just as it has cynically approached the whole sorry climate saga, starting with Kyoto.
Our ETS could only work as part of a properly regulated and audited global system in which at the very minimum the US, the second-biggest emitter, participated. Even then it would still have been extremely volatile, open to manipulation and outright rorting(Ed: see links below): the very antithesis of certainty.”
“If we believe we have to join hands with the rest of the world in a mutual suicide pact, let us at least choose the more efficient method.”