The problem is that the costs
of abating CO2 to any levels that might make a difference are both enormous and certain (vs. global warming costs which may or may not be large and are uncertain).
Not exact matches
Ms Ward repeats the nonsense that the
CO2 released from the cement used in the foundations
of the turbines is significant — in fact it is
abated in the first or second day
of turbine operation.
But these costs for direct air capture are actually on par with the debuts
of other first -
of - a-kind climate technologies (including wind, solar, and electric vehicles) on a $ / ton
CO2 abated basis.
Considering the example
of Canada's hybrid vehicle rebates, the the average cost per tonne
of CO2 abated was $ 195 (Chandra et al. 2010).
From these figures we can simply calculate that the wind farm will
abate the
CO2 in a fifth
of a year.
The Garnaut report showed that Australia's
CO2 emissions were 28 tonnes per person in 2006, so the TasWind project will
abate the carbon dioxide emissions
of some 70 000 Australians.
My very rough estimate is $ 75 / tonne
CO2 abated (I could be out by orders
of magnitude; I'll recheck later).
Without doing any number crunching I expect the numbers above $ 10,000 t
CO2 should be increased by a factor
of 100 — say $ 1 million / tonne
CO2 abated.
The small group behind HF are trying to stop a renewable energy development that will
abate the
CO2 emissions
of 70 000 Australians for 25 years — because they will suffer some inconvenience and possible minor loss
of profits.
Then, at the minimum 5 % market inter-temporal discount rate, the cost
of trying to
abate this decade's predicted warming
of 0.15 Cº by typical
CO2 - mitigation schemes as cost - ineffective as Australia's carbon tax would be 48 times greater than the cost
of later adaptation.
Australia emits just 1.2 %
of Man's
CO2,
of which Ms. Gillard aims to cut 5 % this decade,
abating 0.06 %
of global emissions by 2020.
Unlike for
CO2 abatement, there are real technologies that are proven to be economic that can
abate the worst
of China's pollution problems.
Because this reduction in
CO2 concentration was so small, the warming
abated over the 10 - year period
of the tax would be just 0.000085 C °, at a discounted cost
of $ 130 billion over the ten - year term.
No policy to
abate global warming by controlling
CO2 emissions would prove cost - effective solely on grounds
of the welfare benefit from climate mitigation.
Under the LRET, a REC is issued for each MWh
of wind power dispatched to the grid, on the assumption that it in fact reduces or
abates 1 tonne
of CO2, that would otherwise be emitted by a conventional generator.
The Montreal Protocol may have prevented the atmospheric concentrations
of chlorine from getting worse by getting rid
of CFCs in developed countries (but the black market will ensure they are readily available in developing countries for years to come unless more is done soon), and because the CFCs are enormously powerful greenhouse gases (5000 - 11,000 time more powerful than
CO2, in round figures) Montreal has done 5 times more to
abate emissions than Kyoto will in the first commitment period.
The critical issue is the value
of CO2 abated required to create a market for industry to invest and use the technology.
I tend to be optimistic about the world, and believe that we are approaching a high water mark (so to speak) for the climate catastrophists, where we will look back and see their influence peak and start unwinding under the presure
of science and the reality
of the enormous cost to
abate CO2.