In an odd choice, resource-rich Australia is about to adopt a cap and trade scheme for carbon. Micheal Shellenberger and Ted Nordhaus of The Breakthrough Institute give their view over at New Geography.
They write,
"In Europe, the US and Australia, environmental NGOs and the center-left generally has grossly oversold the impact of pricing carbon, the readiness of renewable energy, and the political sustainability of their schemes.
Though some greens try to fudge the numbers, no climate or energy analyst today can credibly claim that renewables are cheap enough to compete broadly with fossil fuels."
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