Carbon taxes are useless without a technological breakthrough

It turns out that carbon taxes are very efficient taxes, but only when it comes to putting industries out of business.

The tax wouldn’t be so dire if all existing technologies were on the table, but alongside gas, nuclear power has been ruled out by this government. Nuclear is the only viable 24/7 non-emitting source of electricity. If it were available the smelters might be safe even if the plastics, fertiliser, steel, and cement manufacturers still faced existential problems.

Bjorn Lomborg has long argued that we need to invest in researching and developing alternative technologies, rather than taxing existing technologies. To date, Australia has more or less avoided this trap, but under enthusiastic Labor, no longer. Their virtual carbon tax guarantees Australia will have an impoverishing collision with the physical limits of reality. And all for no return in global emissions.