Combatting the perceived incidence of global warming is driving government policies. In Australia this has been obvious for many years, but for the ALP it was clarified by the publication in the Monthly of the Treasurer’s philosophy on the need to remake capitalism. Jim Chalmers claims this is necessary because energy policy cannot be left to genuine market forces when we need to combat the effects on the Earth’s atmosphere by the combustion of fossil fuels.
That rests on the theoretic construct that a doubling of CO2 in the atmosphere, which is likely to take place in the next 50 years,...
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