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!00% renewables = 100% unaffordables

By Geoff Carmody - posted Friday, 19 July 2024


The third step is to put energy policy changes currently under contemplation on hold. If we want to get to Dublin, best we don't start from here. We need a better road map to a clear destination.

The fourth step is to compile independent evidence for power choices needed in the long term. This won't be easy. Bipartisan support is needed to 'firm' investment expectations themselves.

Who should be members of an independent review panel? Private sector engineers with relevant experience should dominate. Maybe one or two economists knowledgeable in the field to keep an accurate eye on energy source costs, properly and comparably measured. Ideally, no, or few, official agencies financed by the taxpayer. These days, these agencies' independence is affected by political pressures from their ministerial masters, whether they admit it or not. Last, neither politicians of any tribe nor their advocate supporters should be included.

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Getting clear advice will still be difficult in practice. As Michael Crichton concluded in his reference-thick climate change novel State of Fear (Harper Collins, 2004):

Everybody has an agenda. Except me.

Quite so.

 

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About the Author

Geoff Carmody was a director of Geoff Carmody & Associates, a former co-founder of Access Economics, and before that was a senior officer in the Commonwealth Treasury. He died on October 27, 2024. He favoured a national consumption-based climate policy, preferably using a carbon tax to put a price on carbon. He has prepared papers entitled Effective climate change policy: the seven Cs. Paper #1: Some design principles for evaluating greenhouse gas abatement policies. Paper #2: Implementing design principles for effective climate change policy. Paper #3: ETS or carbon tax?

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