Economist and Reserve Bank of Australia board member Warwick McKibbin warns the Carbon Pollution Reduction Scheme is "fundamentally unstable", the price of permits will be "inherently volatile" and the Copenhagen agenda is in "total disarray". "The political fallout from this is going to lead to changes," he says.
For geographical and political reasons, Australia does not have the hydro or nuclear alternatives to replace coal-fired baseload electricity. That makes it more costly for us to cut emissions compared with the US, Europe and Japan. That increases the risk of "leakage" of our carbon-intensive industries offshore to developing economies, such as China, where emissions restrictions are less stringent.
Gee, and you had to an Economist and Reserve Bank Member to figure that out? The Stump challenges anyone to demonstrate where China, Indonesia, Thailand or Philipines are taking any serious steps about their environment or that they see this Carbon Trading Scam as anything but free cash for free mansions for the parasite elite.
Economic suicide brought to you by your Union Run Leftists.
Once again...This will reduce the Climate Change by HOW MUCH?