John Howard Trots Out Emission Trading Scheme - No Caps, No Targets, No Penalties - For 2012 - AFP

[hatrack]

Bold, huh?

Prime Minister John Howard announced Sunday that Australia, one of the worst per-capita polluters in the world, will launch a domestic carbon trading scheme in 2012 to fight global warming. But Howard warned that capping the carbon dioxide belched out by coal-fired power stations could seriously hurt the economy and Australia might have to turn in part to previously shunned nuclear energy.

"Implementing an emissions trading scheme and setting a long-term goal for reducing emissions will be the most momentous economic decision Australia will take in the next decade," he said. "If we get this wrong it will do enormous damage to the economy, to jobs and to the economic well-being of ordinary Australians, especially low-income households."

Howard, whose conservative government joined the United States in refusing to sign the Kyoto Protocol on limiting greenhouse gas emissions, said Australia's trading scheme would be better than those already in place in Europe. "More comprehensive, more rigorously grounded in economics and with better governance than anything in Europe," he told an annual meeting of his Liberal Party national council.

But his refusal to set a target for the reduction in emissions until next year and the delay in implementation until 2012 drew immediate criticism. "Climate change is not going to wait for the Liberal Party," said Australian Greens leader Senator Bob Brown. "Keeping global temperature rises to two degrees Celsius or less requires rigorous action now."

EDIT

http://www.terradaily.com/reports/Australia_Sets_Carbon_Trading_Date_In_2012_But_Prefers_An_Aspirational_Target_Only_999.html

[Dead_Parrot]

1. "Damage... to the economic well-being of ordinary Australians"

So, running out of water for them to drink (or make beer out of) won't damage them?

Maybe it's OK, so long as you die with lots of bits of green paper in your back pocket.

Although they're a tough bunch, Aussies: Maybe they can drink sand? :shrug: