Second, costs were only 20 to 30 per cent of what had been - TopicsExpress

Where is My Ostrich?

Second, costs were only 20 to 30 per cent of what had been forecast. The Harvard review found the cap-and-trade policy was a success by almost all measures, with cost savings of 15-90 per cent compared with alternatives such as government-directed approaches that pre-select a pollution-control method or technology. A trade in emission permits lets the market find the cheapest means of abatement at any time. Advertisement Third, penalties for exceeding permits drove innovation by emitters, who were free to pursue compliance strategies that might not have been anticipated by policymakers at the outset of the program, the Harvard study reports. Its conclusion is pointed: Cap and trade seems especially well suited to addressing the problems of climate change. Why wouldnt a rational government act on such evidence if it truly regards climate change as a serious problem? Certainly, the government should not downgrade targets for Australia, which is the worlds worst greenhouse gas emitter per person and the 15th-highest overall. By contrast, president Bush chose the most ambitious of three targets presented to him to cut emissions causing acid rain. His bold leadership has long been vindicated. Mr Abbotts denial of real-world evidence of what works invites a harsh judgment by history. Read more: theage.au/comment/the-age-editorial/decades-of-evidence-against-direct-action-20131028-2wbxt.html

Posted on: Tue, 29 Oct 2013 12:16:02 +0000

Second, costs were only 20 to 30 per cent of what had been - TopicsExpress

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