I’ve not done a lot on the fiscal ramifications of CC., but i will look further into this aspect and report later. At the moment, with a large powerful group squealing pessimism all over, their intention is to modify our behaviour, and one way to do this is fiscal reward and punishment, [where’s Dostoevsky when you want him]? I don’t think we need worry too much about carbon tax as this system has pretty much collapsed around the globe. What does concern me is an ETS, an emissions trading scheme. Say “trade” or “free market” in relation to climate and alarm bells ring. I’m all for stopping pollution, [which CO2 is NOT], and having govt. regulations to reduce dirty, dangerous emissions. It is a simple fact that, even if CO2 emissions are reduced- lets even say stopped completely – the effect on temperature will be negligible. Australia could sink below the ocean and the temperature of the world wouldn’t notice. But it appears that an ETS will happen around the world – which is largely what the Big Paris Conference in Dec, will be about. Let’s see if I am close to understanding this. Muja Power Station is Perth’s main supplier of power, [and just about our only supplier]. It is abominable because in burning coal it emits CO2. For its sins, and to save the world, it may only supply 5000 kwatts per day. to limit its CO2 emissions to 100 tons per day. Heavy fines apply over that. [Meaning if they do need to supply us with more power, and Muja pays a penalty, then we consumers will pay for that excess penalty. – got it? , Muja doesn’t suffer in the end…..which is what happened with the carbon tax]. But then the Power Rangers step in and tell Muja it can’t do that…..if they have to produce more power they have to buy carbon credits from another power station which has not found it necessary to go over their own limit. With carbon credits going for $1 each per kg. of CO2 produced, Muja buys a $1 mil. worth, knowing that in the off-season the demand for power will be less and they will notch up 2million carbon credits. Seeing an opportunity to make a profit because the Northern Hemisphere is having a bitch of a winter, Muja says, “Hey boys, if you want our credits so that you can produce more power then we will sell you our credits for $1.50. ” In the interim, being a free market of supply and demand, Joe Blow the day-trader could see what was going to happen with the extra demand in the North, so he cleverly bought a million credits from the Yallorn power station in Victoria, so he offers the Kowloon power station his bundle at $1.25 per carbon credit. CONFUSED? That’s both of us. And where in all this is CO2 output reduced? NO, I must be wrong here. I invite anyone’s comment to set me straight on this as I am really not looking forward to researching this aspect What I do know is that, as soon as credits are marketable, the smart dealers will make money from the system and it will be subject to corruption. On the whole, I am optimistic about our future and the human ability to adapt and invent. In this series of essays I have used only orthodox science sites, not those of the so-called deniers such as Lord Monkton or Andrew Bolt, such scientists include Joanne Nova from Perth, Dr. David Evans, Prof Ian Plimer, Adelaide, Dr. Judith Curry, U.K. and others. Several sites of warmists were also used to cross -check facts. There is a ton of info out there, both for and against, and don’t be taken in by the cry:”97% of scientists believe………”, that is untrue. Watch for the new jargon…..ACD, Anthropogenic Climate Disruption. I would welcome comment and correction. I have only done this research so that our descendants are not hood-winked and pay an unjust price.