Australia dumps Carbon Trading Scheme

WUWT reader Chris M Writes in Tips and Notes to WUWT

Have you noticed that the Australian PM, Kevin Rudd has dumped his CTS until at least 2012. This was his key platform at the last election, when he described global warming as “the greatest moral imperative of our time”.

click for article

How the times have changed.

Anyway, his Minister for Climate Change, Penny Wong, is too busy cleaning up after his botched home insulation scheme to be able to devote any time to climate change.

I recommend Dennis Shanahan’s excellent comment in The Australian newspaper http://www.theaustralian.com.au/news/opinion/pm-delays-emissions-trading-scheme-as-inconvenient-political-truth/story-e6frg75f-1225858920473

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A scheme indeed. Well said Chris. Andrew Bolt has more: The greatest reversal of dud policies in our lifetime

Add this to the collapse of the Kerry-Leiberman-Graham bill in the U.S. Senate this week, and all of the sudden it’s been a really bad week for alarmists.

Of course anybody with half a brain can see that carbon trading is flatlining here in the USA.

Carbon is waaayy down from the high of over seven dollars a ton to ten cents a ton and has been at that level for months. The data is from the Gore-Pachauri sponsored Chicago Climate Exchange (CCX)

CCX CFI Vintage 2010 (Quoted in mt CO2)

Do I hear a nickel?

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Tenuc
April 27, 2010 11:03 am

Politicians have to be pragmatic to survive, so good news that Oz, USA and now Germany are in retreat on carbon tax. Here’s hoping the rest of the EU see things the same way as Germany and also pull the plug.
The causes of this sea change are not hard to see:-
Global recession – less money to waste.
Dollar and Euro in massive trouble due to Trillions of bank bail-out debt.
Climategate.
IPCCgate.
CAGW in doubt and no longer urgent (“No statistically significant global warming for the last 15y.” -Dr. Phil Jones)
W.U.W.T (and other less important CAGW sceptical Blogs).
Public turning their back on the scam.
Earth’s climate continues to fail to conform to IPCC doom-mongers predicted catastrophes and rubbish climate models.
Nothing to see here folks, please move on…

jaypan
April 27, 2010 11:06 am

Having failed Copenhagen, different strategies are tried now:
1. discredit sceptics as seen by the stupid HuPo piece and others
2. the PIK (Potsdam whatever Institute) proposes a per capita emission limit worldwide. It is unbelievable:
http://www.pik-potsdam.de/news/press-releases/a-global-limit-on-emissions-equal-per-capita-emissions-rights-and-201cpeak-and-trade201d-emissions-trading-for-the-201c2b0max-climate-strategy201d
Each person gets an amount of emission assigned and has to deal with, can sell it to others who need more. It’s cap and trade on a personal level.
But let us not ignore the consequences. The PIK boss is chief climate advisor of the German government. And Obama has similar advisors. So despite all facts, this bandwagon goes on and on.

Hangtown Bob
April 27, 2010 11:25 am

Does this mean that dumping the CTS is the biggest IMMORAL action of our time???

FrankK
April 27, 2010 11:41 am

Actually its delayed until 2013 not 2012.
I suspect after reading Fieldings “due diligence report” by a number of experts debunking AGW
http://www.stevefielding.com.au/images/uploads/8_Carter-Evans-Franks-Kininmonth_DDR-v_4zzz_-_medium.pdf
as well other expos and no doubt nay sayers in his own party Rudd thankfully pulled the plug. Lets hope its permanent.

P.G. Sharrow
April 27, 2010 11:52 am

The politicians are finally feeling the wind of opinion is in their faces in stead of at their backs.
The idiotologs will never change.

Tenuc
April 27, 2010 12:07 pm

Politicians have to be pragmatic to survive, so good news that Oz, USA and now Germany are in retreat on carbon tax. Here’s hoping the rest of the EU see things the same way as Germany and also pull the plug.
The causes of this sea change are not hard to see:-
Global recession – less money to waste.
Dollar and Euro in massive trouble due to Trillions of bank bail-out debt.
Climategate.
IPCCgate.
CAGW in doubt and no longer urgent (“No statistically significant global warming for the last 15y.” -Dr. Phil Jones of the CRU)
W.U.W.T (and other less important CAGW sceptical Blogs).
Public turning their back on the scam.
Earth’s climate continues to fail to conform to IPCC doom-mongers predicted catastrophes and rubbish climate models.
Nothing to see here folks, please move on…

dp
April 27, 2010 12:10 pm

I wonder what Mann’s hockey stick script would do with this data – project a 100 years of runaway growth? I think I see a tipping point being reached in 2008.
http://www.chicagoclimatex.com/charts/images/031212100426023CCX2003.png

April 27, 2010 12:14 pm

Merkel in Germany also stopped Germany’s push for their meaningful hoaxing bill.
http://www.spiegel.de/international/germany/0,1518,691194,00.html

kwik
April 27, 2010 12:16 pm

This must mean Merkel and Rudd are heretics?
According to Gordon Brown we have only 14 months left before the tipping point is reached?

Tenuc
April 27, 2010 12:26 pm

Politicians have to be pragmatic to survive, so good news that Oz, USA and now Germany are in retreat on carbon tax. Here’s hoping the rest of the EU see things the same way as Germany and also pull the plug.
The causes of this sea change are not hard to see:-
Global recession – less money to waste.
Dollar and Euro in massive trouble due to Trillions of bank bail-out debt.
Climategate.
IPCCgate.
CAGW in doubt and no longer urgent (“No statistically significant global warming for the last 15y.” -Dr. Phil Jones-UEA CRU)
W.U.W.T (and other less important CAGW sceptical Blogs).
Public turning their back on the scam.
Earth’s climate continues to fail to conform to IPCC doom-mongers predicted catastrophes and rubbish climate models.
Nothing to see here folks, please move on…

M White
April 27, 2010 12:39 pm

The key imperative for any politician is staying in office. Their policies and beliefs become structured to achieve that goal.

CodeTech
April 27, 2010 12:54 pm

Well there you go.
Since 24 months ago we were told we only had 18 months, and we did nothing, the tipping point is past. Since nothing we can now do will save the planet, it would be pointless to do anything. Right? Right.
I eagerly await the tipping. I can sorta feel us leaning a little now. After Guam tips right over, the other landmasses will follow. Why, just in the last few days I’ve noticed that we are having weather, which is a symptom of climate. As everyone knows, before humans started messing with it, the planet was all a nice constant climate with no weather, as clearly described in the Garden of Eden.

Benjamin
April 27, 2010 12:55 pm

Another thing about these carbon credits… Take a look at the trading volume. Zero volume and no open contracts, nor does it look like there were any since this started to “trade” on the exchange.
Maybe when they go for a penny, someone will want to save the world?

April 27, 2010 1:20 pm

If you live in Europe it is worthwhile going out and taking a look at the Moon, it is EXCEPTIONALLY bright.

Vincent
April 27, 2010 1:24 pm

Don’t worry, because the UK has taken up the fight. Leading the world with a panopoly of feed-in tariffs, carbon reduction commitments, renewal obligation certificates and now Brown’s “low carbon apprenticeships,” the UK is well on the way to cornering the market in green jobs.

kadaka (KD Knoebel)
April 27, 2010 1:27 pm

Greece’s credit rating cut to junk status. Portugal also hit.
There will be considerable thought in at least certain EU countries as to whether it makes sense to keep throwing money into cap & trade and making themselves less competitive while they are but a handful of countries actively trying to do something to stop a crisis that refuses to materialize based on “scientific research” that they can see has been (ab)used for political purposes.
Saving the planet sure feels good. Having good food to eat and a comfortable place to live in feels better. Survival of the self trumps survival of the species.

April 27, 2010 1:53 pm

Is credit due to Lord Christopher Monkton?

jeef
April 27, 2010 1:56 pm

I tipped this a bit before Chris, but won’t moan about it!
http://www.abc.net.au/news/stories/2010/04/27/2883282.htm
Looks like poor old New Zealand are the only saps with an ETS on the statute books. Ah, the price of having a “Clean, Green” slogan.

kernels
April 27, 2010 2:01 pm

I like the Google Ad posting for this – “The Lowdown on Carbon, & Why the Market’s Poised To Explode. ” I think implode would be closer to the truth. That’s my two cents worth anyway …

April 27, 2010 2:13 pm

jaypan
This new approach by the PIK looks to me, like an attempt to regain influence.
In the paper the CO2 “allowance” per capita is supposed to be 5,1 MT p.a. So Brazil, India and China would (at the moment) benefit from it. Maybe this is an attempt to get them “into the boat” again. Anyway, when you watch what is going on at the moment in Germany, cap and trade seems to be “As dead as a Dodo”…
I wrote a comment on that paper here (in German, sorry).
BTW, Anthony, I like the new style. Maybe one suggestion. For WordPress there are tools available for HTML-Tags in comments, which insert a quicktag toolbar on the comment form. I use “Comment Form Quicktags” for my page and must say, I quite like it.

Dead-enders
April 27, 2010 2:32 pm

Not like anyone here cares, but:
“a poll by the Lowy Institute showed most Australians wanted the government to act on climate change but were not personally prepared to pay for it. The poll found that while 72 per cent of Australians agreed that Australia should take action to reduce carbon emissions before a global agreement is reached, 33 per cent were not prepared to pay anything extra on their electricity bill and 25 per cent were only prepared to pay $10 or less extra per month.”

Stephan
April 27, 2010 2:53 pm

Australians are notorious for falling for popular themes they always have and have nearly always been wrong….Same goes for NZ by the way. It doesn’t really matter anyway, no one really cares what they think as they are miles away from anywhere LOL

Bruce of Newcastle
April 27, 2010 3:06 pm

Thanks Anthony for helping generate this great victory!
(sorry don’t like your new WUWT look, hard on the eyes, but I would cheerfully read purple text on puce background if you can keep on winning like this)

King of Cool
April 27, 2010 3:07 pm

“When the history of this Parliament, this nation and this century is written, 30 June 1999 will be recorded as a day of fundamental injustice – an injustice which is real, an injustice which is not simply conjured up by the fleeting rhetoric of politicians. It will be recorded as the day when the social compact that has governed this nation for the last 100 years was torn up.”
Kevin Rudd, Hansard, June 30, 1999 on the Goods and Services Tax, upon which States could not now survive.

When the history of this Parliament, this nation and this century is written, if 30 Jun 1999 was recorded as Fundamental Injustice Day then 27 April 2010 will be known as Fundamental Justice Day when the biggest scam ever conjured up by the fleeting rhetoric of politicians was torn up and the social compact that has governed this nation for hundreds of years was saved.

Ken Hall
April 27, 2010 3:40 pm

This is why I shall be casting a vote for UKIP next week. They have the best policies on climate change and the official UKIP spokesperson on climate change is Lord Monkton.