ETS auction fails again as global temperatures soar
Emissions Trading Scheme auction fails for second time in 2023, endangering $500m of Government revenue; Global sea temperatures hit record highs; Sea ice levels at record lows; PM rules out urea tax
TL;DR: The Labour Government’s decision just before Christmas last year to ignore the advice of the Climate Commission to allow a higher carbon price in the Emissions Trading Scheme is now proving financially expensive in the short term, and is likely to worsen massive emissions liabilities coming due in 2030.
The Government’s main tool for suppressing e…
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