Failure to introduce a market price for carbon will undermine many of Australia’s efforts to decarbonise its economy, says Andrew Liveris, chairman of Lucid Motors and a director of Saudi Arabian oil giant Aramco.The Australian Financial Review Energy & Climate Summit
“If we can get a market signal out there through a market-based mechanism - offsets, credits, debits - we’ll get the emitters trading with the people who are putting in place all the renewable power,”“Wherever there is one in the world, it is starting to work on bringing down emissions.” Mr Liveris said Western Australia’s policy of reserving gas for the state should be a blueprint: “Waiting for global companies to run the numbers on gas projects is a backwards idea”.
Mr Liveris would not be drawn on last week’s decision by the Organisation of the Petroleum Exporting Countries to cut oil production, a move set to drive energy prices higher around the world in the wake of Russia’s invasion of Ukraine.But looking at the macroeconomic picture, Mr Liveris says China’s demand has not returned to pre-pandemic levels which has contributed to weakness in the global economy.“There’s a recession out there,” he said.
Bullshit
FFS we're about to spend a trillion dollars on unneeded upgrades to our power system. if only there was a carbon free replacement to coal that would could do a direct 1:1 replacement for.....
Julia Gillard and Labor provided a carbon pricing mechanism. Remember? It worked. Tony Abbott and the Liberal Party killed it off with lies and anti climate change ideology.
Well, well, well......
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