Comments on Paul Kelly “Labor in denial as ETS fairyland fractures”, 24/02/2010, http://www.theaustralian.com.au/news/opinion/labor-in-denial-as-ets-fairyland-fractures/story-e6frg6zo-1225833619589
The ETS has always been a flawed policy both domestically and internationally.
It has been some politicians' strategy to be able to use it to its political advantage by gifting permits to whoever they like at the expense of efficiency and equity, and some financial institutions' dream to create opportunities for making money for them.
Some bureaucrats also like it because they can have control over parts of it.
It has the false name of market approach, but it is far from it.
The best policy of climate change or emissions reduction / control is either a global carbon tax with an equal per capita distribution of the global revenue from it.
If such a global scheme is not done, the the best policy for a country is to imploe a domestic carbon tax and a carbon tax on imports with an equal per capita domestic distribution of the revenue.
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