What will they do when cap-and-trade fails — like in Europe?
Businessweek reports:
The Australian Industry Group, a business lobby representing about 60,000 companies, this week called on the nation to abolish the fixed price and replace it with emissions trading immediately after Australia’s election. A survey of its members indicated that Australia’s “unnecessarily high levy” on carbon is hurting the country’s competitiveness, the group said in a June 25 statement.
Drinking the Kool-Aid? Rents to be sought? Both?
One scheme to use climate change paranoia to extort money from businesses has failed, so it must be replaced with another that uses different terminology. The real drag on the economy is the extortion.
Asking for a tax to replace a tax. Brilliant move AIG.
There’s no need for a ‘cap and trade’ either … we want it GONE !!