Tony Abbott - an economic simpleton

[mellie]

Tim Flannery is a dolt and should be sacked.

[IQS.RLOW]

Your business as usual line needs hasn't been corrected for the last 17 years of no warming, it is therefore incorrect and the original interpretation of what Flannery says stands.

In fact you could reword it to "Even if we kept on emitting business as usual CO2, the latest data suggest the world won't warm- please ignore my stupid graph"

[Rorschach]

What a load of rubbish.

Want me to draw you a picture too fd.

Sorry what he said still stands and you haven't succeeded in proving anything different.

[freediver]

It's odd really. When someone makes you look like a fool, the natural response is anger, or at least embarrassment. But when Abbott does it to his cheerleaders, they come back gagging for more.

[IQS.RLOW]

You haven't made anyone look like a fool except for yourself and your silly graph.

Your pet commie tax project is dead, buried, cremated.

[Rorschach]

Carbon price collapse could hit Australian budget
April 17, 2013 - 12:04PM
Tom Arup
Environment editor, The Age

Further electricity price shocks are on the way.

The European Union vote triggered a 40 per cent crash in the carbon price.

The price of carbon in the European emissions trading market – the world-leading scheme that will link with the Australian scheme in 2015 – has collapsed after a key vote to shore up the scheme failed overnight.

European Union parliamentarians voted 334 to 315 to reject a short-term fix to the trading scheme's woes caused by a surplus of emissions permits, putting into doubt the future of the scheme.

The vote triggered a 40 per cent crash in the carbon price to around $A3.20 per tonne, before rebounding slightly to $A4 by the close of trading. Yet we are paying 7 times that much and the ALP plan for us to pay even more.

By comparison, Australia's carbon price is fixed at $23 a tonne, and will rise over the next two years.

If it survives, Australia will link with the European carbon market in 2015, allowing local companies to buy European permits to cover some of their emissions.

Bloomberg New Energy Finance analyst Konrad Hanschmidt said the low carbon price in Europe could enable Australian companies covered by the domestic carbon price scheme to cut their carbon bill.

The government says Australian companies will be able to cover half their carbon liability with international carbon permits from 2015.

He said it would be an extremely tough to convince the European Parliament to change its mind.

''If it does not happen we could see prices move towards €1 a tonne over the next few months,'' he said.

''Until there are clear indications of the parliament reconsidering its position... we do not foresee a recovery in prices.''

The European decision could have revenue implications for the Australia's federal budget.

The government currently predicts carbon prices in the forward estimates will be $29 a tonne in 2015, and has based its expected revenue from the carbon scheme at that price.

In recent modelling, the government's Climate Change Authority instead indicated it expected the Australia carbon price to fall to $10.72 a tonne in 2015, which would blow a multi-billion dollar hole in the government's revenue forecasts.

Opposition climate action spokesman Greg Hunt said Australia's carbon price was now five and a half times bigger than Europe. He said 2011 Treasury modelling forecast Australia's carbon price would rise to $37 a tonne in 2020.

''Either the government's modelling is correct and we will be even more out of line with the rest of the world, or if it is not, the ALP's carbon tax will face a multi-billion dollar black hole and the deficit will only get worse,'' Mr Hunt said.

Climate Change Minister Greg Combet said the defeated motion was just one of a number being considered to support Europe's trading scheme and the issue will now be looked at further by the European Parliament's environment committee.

"The carbon market in Europe is just one of the markets that has been affected very seriously by the global financial crisis, and by the financial crisis in Europe specifically, and so the low prices are a response to those influences,'' Mr Combet said. While here people can't pay their electricity bills Greg...

"Once the Australian emissions trading scheme from 1 July 2015 links with the European market that means we will have a common carbon price with 31 other countries, so obviously the price in the European market has an influence on the Australian price at that time, but that is two years away and a lot of things can happen between now and then.

"In the budget in coming weeks Treasury will model the (Australian) carbon price in the usual way and there will be a revised forecast for the financial year 2015-16 and a revised revenue forecast as a result.

''A lot of the expenditure related to the carbon price is issued in free permits and so therefore the expenditure reduces if the price reduces as well.''

Mr Combet said emissions trading was widely recognised as the most effective way of develop a global market to drive down greenhouse gas emissions. He said the overnight events in Europe should not be seen as undermining global action on climate change.

''The determination is there and the commitment to develop global carbon markets is there," he said.

The Climate Institute's Erwin Jackson said the European decision emphasised the need to have other climate policies to act as insurance for volatility in carbon markets to ensure investment in low-carbon technology continued and emissions were cut.

He cited the 20 per cent renewable energy target, energy efficiency scheme, and the initial fixed carbon price as examples. yet more causes for higher electricity prices.

Mr Jackson said the European decision was not likely to have a huge impact on the long-term Australian carbon price, because the defeated proposal was only a short-term fix.

He said the emissions reduction target that Europe set for 2030 would play a bigger role in determining the long-term price.

Read more: http://www.smh.com.au/opinion/political ... z2QgPY999v" onclick="window.open(this.href);return false;

[mantra]

Will Abbott ignore the request of the Business Council of Australia or will he listen to the IQ's of this nation? Howard catered to the BCA's demands.

Business groups are pushing to keep the carbon price - but at a lower internationally linked rate - in an attempt to end the three-year political stand-off over climate policy.

The Australian Industry Group has called for an end to the $23 per tonne carbon tax and a move straight to an internationally linked carbon market, which would reduce the carbon price to $6 or $7 a tonne.

The Business Council of Australia also believes the best way to reduce emissions is primarily through a carbon market, without any restrictions on the ability of business to buy greenhouse gas reductions from overseas.

AI Group said on Thursday that Australia should ''end the carbon price and move straight to emissions trading with full international linking'' as a way through the policy ''morass''.

Read more:http://www.smh.com.au/opinion/political ... z2QlWBGdKk

[IQS.RLOW]

AIG is a labor affiliated groupthink tank and always has been.

But it doesn't really matter because Tony is going to piss it in and the tax will be dead, buried and cremated.

With all the money you will save not paying the tax Moantra, you can buy all the stinking carbon credits YOU like. The normal people refuse to take part in your leftwing guilt tax Ponzi scheme. Feel free to partake on you own

[mantra]

How unsurprising. Abbott is doing a backflip. The Coalition's DNA isn't what it used to be.

Opposition Leader Tony Abbott has declared "all bets are off" on a timeframe for delivering a budget surplus.

Mr Abbott, answering questions from Geelong voters in the nation's most marginal seat of Corangamite, said he didn't know the starting point to achieve a surplus.

Asked by an elderly Geelong woman what his top priority would be as prime minister, Mr Abbott said it would be to get "the budgetary house in order."

"We were confident that we could deliver a surplus based on what the government was telling us until just before Christmas," Mr Abbott said.

"But all bets are off, given the government won't tell us what the deficit will be."

Abbott reiterated that it was in the coalition's DNA to deliver surpluses and pay back debt.

http://www.smh.com.au/national/abbott-d ... 2i3al.html

[Rorschach]

What a beat up.... labor have missed their promised surplus the debt keeps growing and now Abbott makes a sensible statement a YOU try to make political points off it.
What a hypocrite you are.