THE Rudd Government's environmental credentials are in tatters: the Carbon Pollution Reduction Scheme has been exposed as sham. This shouldn't be surprising. There isn't one cap-and-trade scheme in the world that has resulted in a reduction in carbon emissions. Instead, such schemes have made money for the biggest polluters and created a new branch of the derivatives industry that creates new wealth opportunities for brokers and financiers.
Rudd's cap and trade scheme benefits the worst polluters.
But the Australian scheme is special. It has been rorted at the planning stage. An emissions cut of 5 to 15 per cent by 2020 on 1990 levels is derisory. If the rest of the world adopted these targets as the standard at the forthcoming meeting in Copenhagen in December, then the science suggests that southern Australia can look forward to more extreme bushfires and heatwaves, while the north will be forced to adapt to more intense cyclones and collateral damage from shipping, such the recent oil spill that ended upon Queensland beaches.
See full Article.
Posts
