Emissions Trading
E&OE...
(excerpt from the Prime Minister's address to the 52nd Federal Council of the Liberal Party of Australia)
Australia will move towards a domestic emissions trading system beginning no later than 2012 but we need to assess very carefully with detailed economic modelling the impact any target will have.
Labor says it will reduce Australia's emissions by 60 per cent by 2050 but it won't tell you what the impact will be because it hasn't done the analysis. Peter Garrett wants a 20 per cent reduction in emissions from 1990 levels by 2020.
The Emissions Trading Taskforce concluded that it would require and I quote,
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