Jo Nova on our carbon market

Interesting?

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 this “market” started. For some reason Turnbull didn’t brag about his master success — achieving what Rudd and Gillard failed to do. This is because he is a self effacing and humble man … or maybe he knew his voters hated it, and he hoped to deceive them.

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13 Responses to Jo Nova on our carbon market

  1. benaud

    Yay!

    I hate Turnbull, seriously Shorten will destroy the country just as well, but with out the smugness.

    And if Shorten destroys the country, we can in a few years destroy the unions.

  2. Tel

    The main difference: Shorten will be smug AFTER he has destroyed the country (and blamed someone else, and then used the chaos to give himself more powers).

    Turnbull is smug before, during and after, then nods along aloof.

  3. André M.

    But “Australia is open for business!”
    Not your business, apparently.

  4. RobK

    I am at a loss to figure out what caused this wish for the demise of prosperity. The continual pushing of a toxic agenda appears to know no bounds. A Gorian fetish seems to have infected not only Clive Palmer but Abbott and the libs also. It is a disgrace.

  5. Fat Tony

    RobK
    #2662769, posted on March 17, 2018 at 11:41 am
    I am at a loss to figure out what caused this wish for the demise of prosperity. The continual pushing of a toxic agenda appears to know no bounds. A Gorian fetish seems to have infected not only Clive Palmer but Abbott and the libs also. It is a disgrace.

    Money – never in the history of Mankind have so few taken so much off so many.

  6. RobK

    Message to Prime Minister, Cabinet and opposition:
    You’ve gone the wrong way on this. Turn back. Much damage has been done.

  7. RobK;

    I am at a loss to figure out what caused this wish for the demise of prosperity.

    It’s the Looting Cartel squabbling over best bits of the staggering corpse of Australia.

    There’s only one way out for us.

    Not safe for work.
    Not safe for triggered petals.

  8. Wayneofperth

    So how do we send a message to the Libs?

    The Libs current thinking apparently is that disaffected Libs will not vote Labour and will at worst vote for other minor conservative parties which means their preference usually ends up with the Libs anyway.

    To counter this the only option I see is not to vote. As this is illegal I intend to vote informal in the lower house and for conservative outliers in the upper. To make sure the scrutineers are aware that my informal vote was deliberate I intend to put an apropriate message to Malcolm on it.

    Will this small act of FU defiance come to the Libs attention probably not. Am I cutting off my nose yes but what alternative is there?

  9. John Bayley

    To counter this the only option I see is not to vote. As this is illegal I intend to vote informal in the lower house and for conservative outliers in the upper.

    As I have done in the last federal and Qld elections, but with the small alteration of voting LDP in the Senate.
    Apart from the FY gesture to Mick Trumble and his merry pranksters, it also denies the major parties electioral funding – something they absolutely do not deserve.
    I am convinced that is the only way for us to get them to start paying attention.

  10. gowest

    As I remember the eureka stockade was all about not paying a tax.
    The unions have the flag but don’t seem to support non payment of carbon tax or GST, maybe they get a tax break and have to be careful?
    Since we are a carbon based life-form then the carbon tax is a tax on us not global warming cooling – we should be able to pay it by saving our dead skin and mailing it!
    Wayne of Perth wonders what we can do – a GST strike is the first order of business – figure a way to sabotage the GST collection and move forward….
    Convince Wyatt to remove royalties from iron ore – that will stuff up Tasmania and SA completely! he should do it just to watch all the easties grovel for the money.

  11. egg_

    benaud
    #2662716, posted on March 17, 2018 at 10:46 am

    +1

    Tardbull has broken the traditional Lib/Lab cycle.

  12. Gowest;

    As I remember the eureka stockade was all about not paying a tax.

    It was a little more than that, but it seems to have been dismissed because narrative. Apparently Mines Inspectors were fining miners because they weren’t carrying their licence on them.
    The licences were printed on cheap paper and because the miners were working in wet conditions, the paper would disintegrate.
    There was a very large amount of bureaucratic arrogance and state revenue collecting going on that pushed the men over the line.

  13. This post is entirely wrong.
    What is truly perplexing is that Jo Nova knows that it is wrong.

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