My colleague at the Five Dock Climate Realists has reminded me about a little-appreciated development that was put in train in 2016 with bipartisan support to replace the Carbon Tax. One of Minister Hunt’s first task in the new Cabinet was to abort the investigation into the agencies that collect and distribute weather data, specifically the Bureau of Meteorology and the CSIRO.
The next was to enshrine in legislation a Safeguard Mechanism, effectively part of an Emissions Trading Scheme supporting the push for unreliable energy to save the planet under the Paris Accord. That was reported in The Australian but did not attract much attention.
The legislation that included the Coalition’s ETS was passed by the Senate — with the support of both the ALP and the Greens — on its last day of sitting in 2015, in December.
As it happens, that was the day before the Paris climate conference, called COP 21, got underway, at which an agreement to keep the global temperature increase to 2 degrees was signed by 189 countries, including Australia.
The emissions caps imposed on 150 companies are described by the government as a “safeguard mechanism” to support the Emissions Reduction Fund.
More investigation is required to be clear about the implications of this move but one suggestion is that it will put up the price of power without any reason that is visible to the punters.