Biggest economic upheaval in most lifetimes ahead? - you must be kidding

Comments on Dennis Shanahan “Biggest economic upheaval in most lifetimes ahead”, 25/07/2009, http://www.theaustralian.news.com.au/story/0,25197,25832139-17301,00.html

Shanahan says:

“AUSTRALIA now faces its biggest economic upheaval since the war with the introduction of an emissions trading scheme designed to push up the price of carbon and cut greenhouse gas emissions.”

“This is because the Coalition, under the threat of a double-dissolution election, has blinked and will pass Kevin Rudd's emissions trading scheme in some form, and soon.”

I doubt the alarming headline will reflect the truth. The Australian legislation is not necessarily more radical than the US one, or the most likely policy positions of the Europe Union countries.

It is unlikely that all these countries will see the “biggest economic upheaval in most lifetimes ahead”. So how could it happen to Australia if it takes a similar approach to emissions reduction? It is unconvincing, to say the least.

The federal opposition’s position to wait to see what the other countries – China, the US and India, will do is purely a disguise. The US has past its legislation in the House already. Neither China nor India is likely to reduce their emissions until the rich countries reduce theirs by a significant degree. Yes they may agree to reduce emission intensity. But it is very different from reducing emissions.

So what the oppositin is waiting for? They just don’t want to take any actions in reducing emissions. Nothing more than that.

They will fail, one way or another, because most Australians want to take real and realistic actions. The opposition will be left behind, or dragged along, unwillingly though.