The reality of Rudd's ETS

In separate stories today, both Victoria and WA feel the potential effects of the ETS. In the West Australian, the State Government has called on the Commonwealth to delay the start of its emissions trading scheme, warning that a 2010 roll-out could force industries overseas resulting in massive job losses.

Treasurer Troy Buswell said yesterday that imposing a “half-baked” scheme could increase overall global emissions because it was likely to force industries to move to places with fewer environmental rules and lower costs.

The Herald Sun on the other hand cites hard figures regarding the effects of an ETS: up to 29,000 jobs lost in Victoria by 2020, and 45,000 by 2030. Victorian Employers’ Chamber of Commerce and Industry said:

“The 10 per cent model would amplify a downturn, as industrial production costs and consumer spending respond to higher energy prices pushed up by the rising cost of carbon.”

But guess what “Climate” Penny Wong thinks that delaying will just make it harder:

“Delaying now, and then trying to catch up later, will deliver a sharper shock in the years ahead,” he said. “Acting now gives certainty for business at a time when they need certainty.”

Penny is nothing if not predictable. Read it here, and here.

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