"It doesn't matter how beautiful your theory is, it doesn't matter how smart you are. If it doesn't agree with experiment, it's wrong." Richard P. Feynman

Tuesday, May 31, 2011

Kyoto Rejection Encourages Carbon Tax Opponents

Russia,Canada and Japan are not signing on to the new Kyoto - a move welcomed by miners and other opponents of the Carbon Tax in Australia leaving Australia and the EU the only ones committing to the new round. Meanwhile a figure of $10.00 per ton is being touted as a "starting level" for the new impost - it could be described as the Carbon tax you have when you are not really having a Carbon tax. 

AUSTRALIA'S mining industry has seized on the refusal of three major economies to sign on to a new round of Kyoto Protocol emissions cuts, as Tony Abbott warned even a business-endorsed $10-a-tonne carbon price would cost jobs.
Russia, Japan and Canada confirmed at the weekend G8 meeting they would not join a second round of carbon cuts if developing countries are not being required to make their own emissions reductions.
The Minerals Council said Australia and the European Union were now the only major developed nations or groups of nations committed to an extension of the protocol after its expiry at the end of next year.
“Confirmation of the likely demise of the Kyoto Protocol means that Australia will be introducing a new $11 billion carbon tax on the economy in the absence of a binding global agreement to reduce emissions,” the Minerals Council said in a statement.
But Julia Gillard denied Australia was acting ahead of the rest of the world.

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