The black hole in Gillard’s plan | Herald Sun Andrew Bolt Blog

Here’s a great, fatal hole in the Gillard Government’s carbon dioxide plan, as conceded by its own documents.

Half the emission cuts are going to come from buying credits overseas.

Let’s overlook the basic fact that a proper overseas market in credits barely exists and is ripe for rorting, as the European Union has already found.

Assume, very conservatively, that those credits will trade at $30 a tonne. That means that the 160 million tonnes of emissions Gillard promises to be cutting by 2020 will see Australia send more than $3 billion a year out of the country to places such as China - or Nigeria.

That’s money the Government will not have to use as compensation for the prices rises.

NC Media Watch: How many left wing NGOs does it take to enforce a governement mandate?

If this is such a good business decision, why does it take a government mandate and tax payer funded grant to SBC to make it happen?