"'The project is forecast to have an abatement cost of $16.20 per tonne.'
"Well that's it then. Everyone should stop investing in abatement projects that are massively cost effective. Instead, beg government for a subsidy to do it. Government Investment in Decarbonising Industry Fund [GIDI] will pay for it."~ Eric Crampton
UPDATE:
"Every time I read or hear anything about carbon offsetting or emissions trading I smell tulips.
"Why? Because it reminds me of the tulip mania in the Netherlands in the 17th century.
"We can’t see emissions, we can’t smell them and in spite of the exhortations to follow the science, a lot of the business offsetting them appears to be anything but scientific....
"The smell of tulips gets stronger when a large multinational company which made billions of dollars in profit last year gets money from the government to reduce its emissions ..."~ Ele Ludemann, from her post 'Does anyone see smell tulips?'
3 comments:
Ayn Rand called it.
FYI Steel and Tube didn't make "billions of dollars in profit last year," it made $30 million. What is most striking about the amount of the subsidy ($140m) is that it is almost the entire market capitalisation of the company ($180m).
BlueScope, an Australian ASX listed compamy owns NZ Steel, not Steel & Tube. BlueScope did make billions of dollars profit last year.
Alan R thank you for correcting me.
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