Daily Telegraph
Wednesday 29/10/2008 Page: 20
A CARBON emissions market will force a massive overhaul of power stations and create thousands of jobs as Australia develops renewable power sources. A confidential Treasury analysis reveals the renewable energy industry in 2050 could be 30 times bigger than it is today. And it would be more than 17 times bigger in 2020 than it would were no action taken to address climate change.
Treasury expects investment in wind energy to be the most significant area of expansion in development of non-fossil fuel energy. The findings are part of Treasury modelling of an emissions trading scheme. The report highlights the possible consequences of new restrictions on carbon pollution. They include higher petrol and electricity expenses for households and the loss of jobs in some energy intensive industries.
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