Pursuit of policies designed to suppress emissions of carbon dioxide and other “greenhouse gases” is severely harming the Australian economy with no compensatory environmental benefits. We address this in the context of energy, land clearing and forestry.
In the case of energy, measures taken to suppress carbon dioxide emissions have been centred on regulations to promote renewable electricity supply (especially wind and solar). These have, over the past 15 years, transformed Australia from having one of the world’s cheapest electricity supplies to one of the most expensive. This takes a direct toll on household bills. But far more damaging is its indirect costs in undermining what once comprised the key national comparative advantage of cheap energy inputs. Policies forcing higher energy costs destroyed cost advantages across manufacturing, mining and agriculture to the great detriment of living standards .... READ MORE