|Carbon Trade? 1 lump of coal for 1 lump of diamond|
AUSTRALIA faces a $30 billion hit to growth by 2018 if domestic carbon prices remain higher than the European price, according to new economic modelling that will add to business pressure to bring the $23 starting price closer to Europe's $10.
The modelling, by the Centre for International Economics consultancy, warns that keeping the $23 fixed price regime and the floor price of $15 a tonne -- key elements of the current package -- will have almost twice the impact on economic growth by 2018 as allowing the Australian price to track international prices.
- The Chicago Climate Exchange collapsed.
- European price of carbon credits is under €8.
- Scam after scam have beseiged European trading