Aussie PM Moves to Repeal Carbon Tax

WASHINGTON — Australian Prime Minister Tony Abbott followed through today on a major campaign promise and introduced a bill to repeal Australia’s controversial carbon tax. The carbon tax was a key issue leading up to Australia’s Sept. 7 election in which Abbot defeated Labor Party candidate Kevin Rudd. AEA President Thomas Pyle released the following statement in response to Prime Minister Abbot’s move:

“The American Energy Alliance welcomes Prime Minister Abbott’s effort to end Australia’s carbon tax and begin restoring sanity to that nation’s energy policies. Weeks before Prime Minister Abbot’s election, the Institute for Energy Research released a study demonstrating the disastrous economic and environmental consequences of Australia’s carbon tax, including increased electricity prices and higher unemployment. Not only that, but this failed policy had the reverse effect of increasing carbon dioxide emissions, proving again that bureaucratic tinkering with energy markets leads to unintended consequences that undermine carbon tax advocates’ chief claims.  Australia’s experience should serve as a warning to policymakers in the United States who seek to implement similar policies here at home. Past supporters of a U.S. carbon tax — like Senator Kay Hagan (D-N.C.), Senator Mark Begich (D-Alaska), Congressman Bruce Braley (D-Iowa), among others — would be wise to observe the Australian experiment very closely and publicly reject all efforts to institute a carbon tax on American consumers.”

To read IER’s study, “Australia’s Carbon Tax: An Economic Evaluation”, click here.


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