Lonely at the top for Gillard

Julia’s carbon dioxide tax gets worse

The Gillard government’s reasoning for a carbon dioxide tax has been set out using arguments from Ross Garnaut, the Chief scientist Will Steffen, and the Productivity Commission as justification.

However, just as she is sinking in the polls over a range of bad policy decisions, more people are noticing the missing element in her carbon dioxide story.

The truth is that the planned and anticipated global carbon dioxide trading market, according to the World Bank, has stalled. There would thus appear to be no danger of Australia slipping behind because, from this report, it just isn’t going to happen.

The second-round Kyoto agreement is kaput. Canada, Russian and Japan are pulling out.

In America, there is no congressional support for any cap and trade scheme or clean energy standards and there is soon to be a two-year suspension of the EPA’s authority to regulate greenhouse gas emissions. Korea has postponed action until 2015, and India, China, Brazil and South Africa have no binding targets.

The World Bank report is emphatic.

Nicholas Linacre, an Australian academic and carbon specialist who worked as lead author on the World Bank report on the state of the carbon trading market last year, says no other country has proposed the level of action or coverage that Australia has.

Our Julia is really going out on a limb. As they say, it is lonely at the top …  especially when you are out of step not just with your electorate, but with the rest of the world.

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