I have been arguing for years that carbon trading schemes are virtually Ponzi schemes that are bound to collapse and the European scheme certainly seems to be following the script that I imagined. The fringe benefit of this is clearly watching the Australian Labor Party making even greater fools of themselves every time their “fixed price” Carbon tax rises as it is scheduled to do in June. If our “Carbon price” is already many times the price of European traded value imagine the pain felt by Labor when the carbon tax rises and the European price falls yet again as I think it will.
So I ask again does anyone seriously think that, after the election, any Labor MP or senator will inflict further pain upon the greatly depleted party by opposing the repeal of this ludicrous carbon tax and all of its accompanying administrative apparatus?
The party is a laughing stock now so just imagine how silly it will look standing up for the tax that has utterly destroyed its credibility.