Gore shares stage with opponent of Aussie carbon tax

07/07/2014
When governments meddle in energy markets, strange things happen—such as an appearance by Al Gore with a coal magnate at a press conference announcing opposition to carbon taxation. This really happened. The coal magnate is Australian Sen. Clive Palmer, whose Palmer United Party controls three votes important to ending a carbon tax. Australia adopted the levy 2 years ago planning to phase in a cap-and-trade scheme. Now at $25.40/tonne (Aus.) of carbon dioxide-equivalent, the tax had predictable results. Electricity prices zoomed. Businesses closed. Unemployment rose. And, oh yes, CO2 emissions increased. Because costly failure gets voters' attention, the government can't wait to scrap the...
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