The first years data is out — Australia’s secret Emissions Trading Scheme is up and running, it’s small, inefficient, and pointless, but all the government needs to do is raise those caps, and the carbon trading monster octopus could wrap around on half our economy.
Australian carbon credits are for sale (called ACCU’s), the price was $14-$18 and the total volume was probably around $7 million. This supposed tiny “free market” marvel could not even match the $11/ton price that Abbott’s direct auctions achieved — proving yet again how inefficient economy-wide incentive schemes on essential molecules are. If the caps were raised the price would rocket. (Remember Labor’s carbon price ended up being $5310 per ton.)
What do you mean, you didn’t know Australia had a carbon credit market?
Obviously, you havent been spending your weekends reading the finer points of our legislative instruments. The legislation for this was voted on in the last sitting of Parliament before Christmas of 2015 while Turnbull was a new PM. There was no public debate, no parliamentary discussion and no news coverage of it til May the next year, and it was barely covered at all during the election which occurred the day after […]
via JoNova
March 16, 2018 at 06:19AM
Iowa Climate Science Education 