The Australian Labor Party intends taking to the federal election a promise to reduce Australia’s emissions by 45 per cent—well above the target Australia adopted in the Paris Agreement. As one means of reaching this target, Labor has promised to ensure that 50 per cent of Australia’s generation will come from renewables by 2030. This is nonsense on stilts—and very expensive nonsense at that. A recent analysis by Brian Fisher, former head of the Australian Bureau of Agricultural and Resource Economics, showed just how costly this policy would be: a cumulative cost of $472 billion to 2030 compared with $69…
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