bad news slowly leaking out

https://www.businessspectator.com.au/news/2014/3/27/policy-politics/direct-action-rejected-senate-inquiry




Direct Action rejected by Senate inquiry


AAP

and a staff reporter

3 hours ago

Climate
Policy & Politics


















The parliamentary inquiry into Direct Action has called on the scheme to be ditched, saying it would be more expensive and less effective at cutting emissions than carbon pricing.

The Greens-led committee, which heard damning testimony of the policy from economists Ross Garnaut and Bernie Fraser, found there was little evidence Direct Action would reduce emissions in any meaningful way, or even meet Australia's 5 per cent reduction target.

The Greens and Labor-dominated inquiry also recommended an emissions reduction target in line with the recommendation of the Climate Change Authority of 15 per cent, which would effectively be a 19 per cent target once extra emissions credits accrued under the Kyoto Protocol were carried over.

Opposition climate change spokesman Mark Butler refused to back the new target on ABC radio this morning, suggesting the effective 19 per cent target was not official ALP policy.

Greens leader Christine Milne said Direct Action was a "high-cost, narrow, government controlled scheme" and would not stand meet Australia's 5 per cent emissions target.

“Should the parliament repeal the [carbon] price and replace it with the Direct Action slogan, Australia will be dismantling infrastructure that will have to be reconstructed again in a very short time period," she said.

"There would be a significant cost to Australia in lost time, money, innovation and competitive advantage."

Environment Minister Greg Hunt called the report a "whitewash" and said the government would reach the target.

"This was written by Labor and Greens senators - of course they're going to be running a whitewash of their own policy," Mr Hunt told ABC Radio on Thursday.

"We'll achieve our targets."

Direct action offers financial incentives to businesses that cut their greenhouse gas emissions at lowest cost.

The government is due to hand down its white paper on the policy next month.


Looks as we sit an await AGAIN, never going to loose faith, we have the resource, and F^&%in lots of it, it will come back in to market favour in due course, just time to sit quietly and hold..................... hmmmm time to go live in thailand I guess