|
June 5, 2007
Finally, Australia is now committed to the introduction of a market for carbon emissions trading as both major parties are committed to introduce a "cap and trade" mechanism for pricing carbon. Everybody nods wisely and business says that Australia is going in the right direction. As Ziggy Switzkowski observes on Lateline, if the framework and principles is the first step, then the next step has to be a glide path with time lines and targets.

John Spooner
Something needs to happen quick and smart as the national energy market is a shambles in both regulatory and sustainability terms. Gaming --big generators using market power to force up average prices to extract monies from consumers is rife. And the talk is about building new coal-fired power stations to handle the increased demand for power.
50% or more (80% in Victoria) price increases for electricity are already in the pipeline, before we even begin to talk about $20 or more for a ton of carbon emitted over the cap. That is more than what would happen with the $20 per tonne under the cap and trade mechanism for pricing carbon. Yet the Howard Government is not talking in terms of recession, the destruction of the economy, jobs going offshore, or the lights going out. Nor is it talking about energy efficiency.
The problem is a serious one. As Ziggy Switzkowski says the science of climate change is very sound. The forecasts that suggest we have to get a 60 reduction relative to 1990 levels by 2050 speaking globally, are also appropriate. So that's where we must head. He adds:
The fact that no country, no economy has a plan to get us from today to there is an issue. As is the issue that is noted in the report. And that is in the year 2010, only three years from now, global emissions will be 40 per cent higher than 1990 levels. So we are as a globe on a trajectory of increasing emissions. We have to make a screeching U-turn to come down to minus 60 per cent in the remaining 30 or 40 years, and the means to do that, the technologies, the policies simply aren't visible in any part of the world.
|
They should list the company and we could all buy shares in pollution inc