01.10.2008 - Australia economy can afford emissions trading
From Planetark.org: Australia's coal-powered economy can afford to cut greenhouse gas output by 5 to 10 percent by 2020 through carbon trading, even if global warming will hit it hardest, the nation's chief climate adviser said. In his final advice to government on a "practical" emissions regime scheme planned for mid-2010, Ross Garnaut said if Australia cut emissions by 10 percent by 2020, it would cost only 0.1-0.2 percent of yearly GDP growth over the period. "We have a chance, just a chance, to deal with this in a way future generations judge to be satisfactory," he said..... Full Article: Source