Europe’s carbon price is now just a fifth of Australia’s absurd $23 a tonne:
European Union carbon permits posted their biggest weekly drop since January as nations and other policy makers considered a plan to temporarily remove supply from the market.
EU carbon for December fell 11 percent this week to close at 3.78 euros ($4.94) a metric ton on the ICE Futures Europe exchange in London
In two years, under Labor’s policy, we’ll be linked to Europe’s price. Current prices suggest that compensation pitched now for a $23 a tonne price will then be funded by a tax that’s just a fraction of that, leaving a multi-billion-dollar hole. Time Climate Change Minister Greg Combet came clean on his mendacious spin.
Meanwhile, China keeps stalling on its own miniscule tax:
China will wait until after this year to introduce a tax on carbon, deferring to concern that economic growth might suffer, a government researcher said.
The nation eventually expects to introduce a levy of 5 yuan to 10 yuan (80 cents to $1.61) per ton of carbon, Jia Kang, head of research at the Ministry of Finance, said in Beijing yesterday.
We really do look ridiculous in our gold-plated global warming evangelism.
Andrew Bolt’s columns appear in Melbourne’s Herald Sun, Sydney’s Daily Telegraph and Adelaide’s Advertiser. He runs the most-read political blog in Australia and hosts Channel 10’s The Bolt Report each Sunday at 10am. He is also heard from Monday to Friday at 8am on the breakfast show of radio station MTR 1377, and his book Still Not Sorry remains very widely read.