Essays by Eric Worrall
The sanctions industry’s carbon cap set to be reduced by 30% by 2030 is not enough – “these biggest polluters account for only 28% of Australia’s total emissions”.
An apology to my grandchildren for not fighting the war of our times
Ross Gittins
economic editor
February 1, 2023 — 5 amWhile I was on vacation, I noticed a tweet that left me in no doubt about the topic of my first column. It said: “I really don’t think the next generation will forgive us for what we did to them and the world they will have to live in.”
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“Well, I’ve been busy writing about the shocking cost of living – oh, and rising interest rates too.” Really? Is that the best excuse you can come up with, grandpa?
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While the rest of us were at the beach, Climate Change Minister Chris Bowen announced a few weeks ago that Australia’s 215 biggest industrial polluters – operate coal mines, factories gas, smelters and steel mills – will be subject to emission limits, with a cap gradually reduced by 30% by 2030.
Businesses whose emissions exceed their limits will face heavy fines. To the extent they are unable to use cleaner production processes to reduce their emissions, they will be allowed to purchase “carbon credits” from other heavy polluters who would already be able to reduce their emissions. their emissions are more than necessary, or from farmers’ who have planted more trees.
Trouble was, it wasn’t long before the experts started pointing out all the holes in the plan. First, the combined emissions of these biggest polluters account for only 28% of Australia’s total emissions.
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Between the lines, Ross seems to want the industry’s carbon cap to be extended to individuals or small businesses? Why complain that the industry limit covers only 28% of emissions?
But the real question, what is the impact of this new Australian carbon cap on the economy?
Big businesses can stay in Australia and face carbon caps and fines. Or they could stop investing in Australia and move the rest of Australia’s industry to neighboring Asian industrial hubs. All jobs will be sent abroad, and industry bosses will continue to earn unlimited profits and throw out as much as they like.
Gee that’s a tough one. I wonder which option will the company directors caught in the noose of the new carbon credit system choose?
Of course, the Australian government is allowing industry to buy their way out of the cap, by buying carbon credits. Due to the alleged carbon credit industry being flooded with cheap fake carbon creditsmaybe the final limit won’t be such a burden – just another piece of pointless paper, and some payoff to carbon fraudsters, to buy cheap fake carbon credits of Surname.
Or maybe reporter Ross Gittins will claim the fake carbon credit system has been properly audited, to prevent rampant carbon fraud that could lead to increasing attacks against moderate African tribes, to kick all humans out of carbon credit forests, so that owners can describe their carbon credit farms as “no inhabited”.
Now that would be something worth apologizing for.
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