Wednesday, November 7, 2007

Who do you trust to keep these rates under control?

In the midst of the interest rate rise commotion, there is another set of rates that we should be asking the leaders whether they have a plan to keep them under control.

The CSIRO reported in May this year that Australia has the most inefficient economy in the developed world in terms of GDP per ton of C02 emitted. The US economy is increasing its carbon efficiency at twice the rate of Australia. Not only that, Australia's carbon emissions have grown at approximately twice the global average over the last 25 years. If emissions proceed on a business as usual basis, they will increase by 70% by 2050.

According to the Prime Minister's Taskforce on Emissions Trading, the medium term outlook in stationary energy production and mining is bleak. The stationary energy sector's emissions are set to increase by 84% based on 1990 levels by 2020 and resources sector emissions by 97%.

I suspect these rates may be of considerable interest to voters, and not just in the so-called marginals.

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