Australians will pay dearly to slay the sky dragon

Caption: 97% of animals agreed that the sky was falling.

The venerable children?s story of Chicken Little is an instructive fable that a great many adults could learn from. When the foolish Chicken Little runs around, clucking that the sky is falling, it all ends very badly. The fable is instructive for the climate change debate: Chicken Little did actually have evidence for her scary theory, however flimsy ? something hit her on the head after all ? and 97% of the other animals in the forest agreed with her.

And just as in the story, the economic foxes are ready to pounce. Quote:

Labor?s 45 per cent emissions-?reduction target would push electricity prices 50 per cent higher, cost workers up to $9000 a year in lower wages and wipe $472 billion from the economy over the next decade, according to the first independent modelling of the energy policies of both the government and opposition.

The Coalition?s commitment to meeting a 26-28 per cent reduc?tion under the Paris Agreement would also come at a cost, with $70bn in cumulative economic losses by 2030 and a 2 per cent hit to real wage growth?

The comprehensive modelling of the economy-wide impacts of both parties? climate change policies has exposed claims by Labor and the Coalition about the costs of their commitments. It suggests that Labor?s policy would result in 336,000 fewer jobs in 2030 than there otherwise would have been, while the Coalition?s commitment would result in 78,000 fewer jobs as the economy adjusted to transitional shock. End of quote.

?Transitional shock? or total and permanent incapacitation of industrialised economies? All that money, just to slay an imaginary sky dragon.

Don?t just take our word for it: this report comes from right inside the fox?s den. Quote:

Dr Fisher, who has also been a lead author on three reports of the UN?s Intergovernmental Panel on Climate Change, accuses both sides of politics of engaging in a dishonest debate.

?Having also been involved in climate policy research since 1992, I still get frustrated about how deficient and even outright dishonest the climate debate continues to be ? regardless of the approach Australia adopts to reduce emissions, there is an inevitable cost to our economy as more emissions-?intensive activities make way for less intensive industries? Dr Fisher told The Australian?

This would amount to a fall in real annual wages of about $9000 per year by 2030.

Electricity prices would also balloon under what the report claimed would be a significant economic adjustment. ?In meeting the combined 50 per cent renewables target and the emissions target, the wholesale electricity price would be around $128/MWh,? the report said. End of quote.

Deluded or dishonest green activists try and tell us that running after them – as they screech about the sky falling – will have no adverse consequences and that the lemonade fountains and unicorn rides will come without any cost. Quote:

A recent ANU report said Australia could meet its Paris commitment by as early as 2025 without cost and using reductions in the electricity sector alone.

Dr Fisher described this as ?appallingly? inaccurate??Regional economies dependent on the production and export of fossil fuels [are] exposed to more severe adjustment pressure compared to more diversified urban economies. End of quote.


In other words, the inner-city elites of the green movement will get off lightly: it?s the ?deplorables? in regional areas who?ll pay the bulk of the cost for this delusional panic.