With the energy sector at deadlock, is there anything that the Abbott government can do to reduce emissions without reinstating a carbon tax? The answer is yes
The renewable energet target (RET) review has concluded with largely expected results. After hand picking a review panel led by a noted climate change skeptic, the review has recommended scrapping or substantially scaling back the RET. The panels findings are neither surprising nor consequential: without the support of the Labour party or the Palmer United party, major changes to the RET are likely to be very challenging to implement.
Stepping back from the RET, it is remarkable that Australian climate and energy policy has made no forward progress. After repealing a carbon tax that appeared to perform exactly as price theory 101 would suggest carbon emissions down, revenues up the Liberal party has tied itself in knots devolving the previously dry field of environmental economics and externality pricing into a kind of internal cultural identity politics.