And the rest of the world does not care.
Australia will be the first country in the world to have an economy wide carbon tax. Even though Australia produces 1.32% of the worlds carbon dioxide output, we will be punishing our industry and people with a carbon tax.
And to meet the target of 160 Million tonnes of carbon dioxide, we will not be reducing our own emissions, we will achieve two thirds of it by sending $3.7 billion dollars per year overseas to buy permits.
So how does our 160 million tonnes reduction compare to China’s annual production of CO2? China produces 7,031 million tonnes of CO2 per annum. Thats 2.2 per cent of Chinas output. So if China increases it output by the same amount it did in 2010, by ten percent, the 160 million tonnes of Carbon Dioxide saved by Australia will be replaced by China in 3 months.
Billions of dollars in extra burdens on Australian workers, industry and consumers to be replaced by China in three months.