Crikey.com.au
Wednesday 19/5/2010 Page: 1
Why was it important for Australia to put a price-ANY price-on carbon? The Australian has a compelling answer today: The head of one of Australia's leading power companies has argued that the collapse of an emissions trading scheme and the subsequent lack of a carbon price means that Australia's next baseload power stations are likely to be coal-fired.
Origin Energy chief Grant King told the Australian Petroleum Production & Exploration Association meeting in Brisbane that having a renewable energy target of 20% reduction in greenhouse emissions by 2020 "made no sense" without putting a price on carbon. He said a carbon price of $20-$40 a tonne would be required to start making a gas-fired power station more economically viable than one fired by coal. More dirty power generation - when Australia wants to lead the world in cleaning up its act.
Labor's emissions trading scheme was a deeply flawed mechanism. But it was a start. And as Malcolm Turnbull - burnt and bitter by the ETS experience-pointed out last night, while both parties can achieve short term emissions reduction targets they fail to "indicate a pathway to longer term emission reductions beyond 2020." Like Turnbull's prime ministerial ambitions, on climate change, we are nowhere.
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