It looks like the Government's Emissions Trading Scheme is just a massive con and, as Tony Abbott puts it, enormous new tax, with no real guarantee it will cut CO2 emissions.
From the Courier Mail:
Emissions 'could rise' under ETS
By Cathy Alexander
February 08, 2010 06:33pm
THE Federal Government cannot guarantee that its controversial climate plan will cut Australia's greenhouse gas emissions at all.
Labor and the Liberals are fiercely arguing over whose climate change plan is the best.
Both plans aim to reduce emissions by 5 per cent by 2020.
The government says the opposition's plan won't work and could see emissions rise.
But the same argument could be levelled against the government's proposed emissions trading scheme (ETS).
Government data appears to show that under the ETS, Australia's emissions would rise from 553 million tonnes in 2000 to 585 million tonnes by 2020.
The target to cut emissions by 5 per cent is only reached by paying other countries to reduce their emissions.
Modelling from the Treasury Department says Australia's emissions don't begin to fall under the ETS "until the mid-2030s".
Junior climate change minister Greg Combet was unable to guarantee the ETS would reduce Australia's emissions by 2020.
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