Tony Wood of the Grattan Institute has a topical article on the need for a carbon price.
I agree. It has immense advantages.
1) It internalises the costs that are not in the price. i.e the current price does not cover all its costs.
2) This means it covers the negative externalities the product has
3) It makes trantion to a low carbon economy much easier. All industries knows what is going on and they can react in any way they wish to reduce their carbon footprint.
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