Climate Spectator
Pricing in Abbott's carbon extremism
Giles Parkinson
How, exactly, do you assess the impact of the Opposition threats to rescind the carbon pricing legislation? As yet another tortured step in the evolution of the carbon market? Or just a really good couple of days for whiteboard manufacturers?
With each day that passes, the conservative Coalition in Australia more and more resembles the Tea Party reactionaries in the US, promoting policies that defy the science, are economically illiterate, are based on a distant technological past, and might as well have been orchestrated by Alan Jones, the NSW radio shock jock and Coalition puppeteer – or Rush Limbaugh, his US equivalent.
Scarily though, the prospect that this strategy might actually succeed threatens to add billions of dollars to the cost of energy in the country, and to the cost of carbon abatement. Sovereign risk has never been a greater threat. Read on........
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