'One other finding we have is, the higher the carbon price then the quicker the emissions reduction.'
23 June 2020: Why Australia's vast coastline could become the next big renewable energy resourceAustralia had a carbon price for two years before it was repealed in 2014 by then Prime Minister Tony Abbott. Politics around the issue had become increasingly toxic, dominating three election campaigns - 2007, 2010, 2013 - and contributing to the demise of two Labor prime ministers: Julia Gillard and Kevin Rudd.
Tony Wood, from public policy think tank the Grattan Institute, said he remained optimistic that carbon pricing will be an inevitable consideration in the future, based on the strength of the economic argument. "Unfortunately, there are a whole bunch of reasons why we are not yet able to embrace that - that is the reality of the political situation that we're in. And you can also see because of the somewhat learned history federal Labor is not in a position to embrace that."And even the state governments - a number of state governments have also adopted a zero emissions by 2050 long-term target. They don't have policy instruments, they don't have carbon prices either.
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