Australia is last rat to jump ON the burning Climatitanic ship with symbolic 43% “SafeGuard” leap

While all the rats are jumping off the Unreliable Wreck, Australia is leaping onto it. Every country that uses electrical-generators for magical Global Climate Control has expensive electricity. They’ve lost industries, jobs and sovereign power as well as hot showers.

Our energy prices are already a train-wreck, but Super-Albo is here to take that failure and double it. While Germany, France, Austria, Netherlands, Poland, China, India, Hungary, Greece and the United Kingdom are all ramping up their coal, we’re going to use less to fend off the floods and hold back the tide. It’s pretty much just down to us and our friends those crazy Canuks and the cockoo-Kiwi’s.

Magical pagan symbols and messages

The term “action” doesn’t mean any actual activity — apart from lots of paperwork:

Albanese told parliament: “Passing this legislation sends a great message to the people of Australia that we are taking real action on climate change.”

Instead of a message, Australians were hoping to get a $275-a-year cut in their electricity bills.

Meanwhile the rest of the world is sending a message to Australia — and they are saying: We Want Your Fossil Fuels.

 

Magical wands of Climate “SafeGuard” policies

How exactly is Australia going to cut emissions even further? It’s through a hidden bomb called the “SafeGuard Mechanism” which a secret Emissions Trading Scheme (ETS) designed to punish the biggest corporate emitters — which of course means they’ll pass on those costs to the sucker consumers. It was legislated in secret on the last night before Christmas in 2015. Thank Malcolm Turnbull for that gift buried in the fine print that apparently almost no one knew about.

Remember when Al Gore flew out to cuddle up to Clive Palmer, who held the last vote Tony Abbott was waiting for to Axe That Carbon Tax? Palmer forced him to add in a proviso for a review of an emissions trading scheme that would only happen if and when all the major players signed up. The Australian ETS came into force the day before the 2016 election, yet almost no voter knew. The dollar values were small and symbolic — but the legislation was locked and loaded just waiting for the Labor Government to win. And now all they have to do is turn the knobs up — adjust the targets, and the money will start to flow as a subsidy feeding unreliable energy in Australia. But its also possible that money will head offshore and subsidize jobs and unreliable projects overseas.

It was a brilliant piece of political maneuvering. Having brought in the hated ETS through the “conservative” Coalition, the conservatives could hardly campaign against “an ETS” they themselves had legislated, and presumably, neither could Clive. It thus neutralized and prevented a rerun of the landslide 90 seat victory Tony Abbott scored in 2013.

So now we have a 43% carbon reduction target, but no one really knows the details:

Dennis Shanahan, The Australian

Yet, Climate Change Minister Chris Bowen had to concede there will be changes to the mechanism, which will be subject of a discussion paper “later in August” and which provides an opportunity for the Greens to meddle.

“We’ll be releasing a discussion paper on the detailed design mechanism on the safeguard mechanism in August, probably. That will be up for consultation. The Greens have indicated they will probably have feedback on that,” Bowen said.

It is the treatment of this mechanism, not nearly as clear as Albanese makes out, that is creating deep concern within the resources sector and the 215 industries and entities subject to the rules.

The threat of technicalities about various types and classes of emissions ruling out new gas and coal projects or even nullifying existing projects is real and yet to be addressed as the government revels in its climate change success.

The cheapest way to generate carbon credits in Australia was the bargain auction system Tony Abbott organised. But those tons of “carbon” avoided were a mere $14 a ton, nothing like the cost of wind and solar projects. Presumably the Labor Government will have to curb that, or their co-dependent friends in the Renewables Industry and foreign banker traders won’t have much fun in the market. We can’t have farmers earning too many carbon credits can we?

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August 5, 2022 at 01:37PM

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