No Need to Cap Anything

With today's announcement of the details of the Carbon trading scheme to be introduced in 2010, here is a graph indicating the global cooling that is happening at the moment. It is widely accepted, even among global warming fans, that the world has not warmed since 1998 and in fact has been cooling since 2002.

So given that fact, together with the fact that there is not necessarily any proof that CO2 is the great cause of it all, why are we entering into a system designed to tax CO2 emissions and move us into an expensive energy regime? I love wind and solar energy, but I prefer cheap electricity and petrol!

By the way, the Treasurer announced today that world oil consumption has fallen to 1983 levels, solely due to increased prices that have nothing to do with Carbon Trading Schemes. Bit of a blow for peak oil alarmists.