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Green energy a better bet | The Australian

Green energy a better bet THE AUSTRALIAN

Green energy a better bet

Bjorn Lomborg | April 30, 2009

THE financial crisis has given many Australians reason to question the merits and timing of launching an emissions trading scheme to control carbon emissions. The debate is healthy, and hopefully will lead to a broader discussion about smarter ways to respond to this threat.

The Australian Government is to be commended for recognising the threat of climate change. Natural science has undeniably shown us that global warming is man-made and real. But just as undeniable is the economic science, which makes

it clear that a narrow focus on reducing carbon emissions could leave future generations lumbered with major costs, without major cuts in temperatures.

At first glance, an ETS seems like a neat market solution to global warming. In fact, it is worse than a straightforward carbon tax, where the costs are obvious.

With an ETS, the costs – to jobs, household consumption and economic growth – are hidden, and easily lead to lobbying, special favours and heavy rent-seeking.

…………………………Rather than attempting the politically impossible by making fossil fuels so expensive that nobody will use them, we should try to make green energy so cheap everyone will use it……………..For Australia, it would mean an annual outlay of $540 million a year, considerably cheaper than many estimates of the industry damage that the ETS would cause..

“…..very dollar invested in making low-carbon energy cheaper will do $16 worth of “good”……………”

Bjorn Lomborg is the director of the Denmark-based think tank the Copenhagen Consensus Centre, author of The Skeptical Environmentalist and Cool It: The Skeptical Environmentalist’s Guide to Global Warming, and an adjunct professor at Copenhagen Business School.

Green energy a better bet | The Australian

Green energy a better bet | The Australian

April 30, 2009 - Posted by Christina Macpherson | Uncategorized