maybe I am crazy
March 26th 2008 22:51
I attended the Garnaut Emissions Trading Scheme presentation yesterday. During questions something suddenly occurred to me.
Why is everyone so worried about the costs? Yes on face value the cost of paying to pollute is a direct cost to the bottom line; the auctioning of permts could net the Aussie govt circa $10bill a year on a rough calculation. Don't get me wrong, this is a lot of money BUT am I crazy or has the Australian economy absorbed much worse over the last 10 years with the rise in the Oil price and the likes? We have taken that in our stride, surely we could take the cost of polluting in our stride as well!!!!!
Realistically the numbers they have thrown around aren't as big as say, the electricity price spikes last year, the rise in input costs for the increase in Commodity prices (yes ok we export commodities but bear with me) I am no economist but if you take a figure that Australia used roughly 32 million barrells of oil last year and oil is say $100 per barrel whereas 10 years ago it was under $10, surely that proves we can withstand increased costs in this economy, given we spend roughly an extra $20bill a year on oil than we did in the past and we are ok.
We are resilent and creative, and I think most of us are prepared to bear a little extra cost for the sake of the environment. Not to mention if Australia can develop a world class renewable energy technology industry we could actually become net winners out of all this. Imagine an Australia with feed in tariffs so the solar panels on your roof can make you money while you sleep!!!!
I am sure my logic must fall down somewhere,and maybe i am crazy, no doubt someone will tell me.
cheers
P.S. Here is a link to a good story on the ETS written by none other than Malcolm Turnbull.
Louie
Why is everyone so worried about the costs? Yes on face value the cost of paying to pollute is a direct cost to the bottom line; the auctioning of permts could net the Aussie govt circa $10bill a year on a rough calculation. Don't get me wrong, this is a lot of money BUT am I crazy or has the Australian economy absorbed much worse over the last 10 years with the rise in the Oil price and the likes? We have taken that in our stride, surely we could take the cost of polluting in our stride as well!!!!!
Realistically the numbers they have thrown around aren't as big as say, the electricity price spikes last year, the rise in input costs for the increase in Commodity prices (yes ok we export commodities but bear with me) I am no economist but if you take a figure that Australia used roughly 32 million barrells of oil last year and oil is say $100 per barrel whereas 10 years ago it was under $10, surely that proves we can withstand increased costs in this economy, given we spend roughly an extra $20bill a year on oil than we did in the past and we are ok.
We are resilent and creative, and I think most of us are prepared to bear a little extra cost for the sake of the environment. Not to mention if Australia can develop a world class renewable energy technology industry we could actually become net winners out of all this. Imagine an Australia with feed in tariffs so the solar panels on your roof can make you money while you sleep!!!!
I am sure my logic must fall down somewhere,and maybe i am crazy, no doubt someone will tell me.
cheers
P.S. Here is a link to a good story on the ETS written by none other than Malcolm Turnbull.
Louie
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