With easy money like this floating around and waiting to be siphoned off it is not difficult to see why the global warming fraud continues! And of course these $5.5 billion are small change compared to the amounts that have been scammed in Europe.
And to make it worse, carbon dioxide emissions are a little less than insignificant for global temperatures.
Billions blown on carbon schemes
SUCCESSIVE federal governments have spent more than $5.5 billion over the past decade on climate change programs that are delivering only small reductions in greenhouse gas emissions at unusually high costs for taxpayers and the economy.
An analysis by the Herald of government schemes designed to cut emissions by direct spending or regulatory intervention reveals they have cost an average of $168 for each tonne of carbon dioxide abated. ……
The analysis of 17 programs with a total cost of $5.62 billion shows many of the schemes are at odds with the goal of tackling climate change at the lowest cost to the economy. ………
The weighted average cost of the 17 programs was $168 a tonne. They will deliver about 25 million tonnes of carbon abatement in 2020 – less than 10 per cent of that needed to meet the government’s target of reducing emissions in 2020 by 5 per cent on 2000 levels.
The worst offenders have included Labor’s rebates for rooftop solar panels, which cost $300 or more for every tonne of carbon abated, and the Howard government’s remote renewable power generation scheme, which paid up to $340 for each tonne.
Tags: Australia, carbon trading scams, climate, climate change, Emissions trading, Greenhouse gas
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