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Wayne Swan's misplaced confidence in Australia's recovery : Comments
By Arthur Thomas, published 14/5/2009China is reducing its dependence on Australian coal and iron ore at a time when Wayne Swan says Australia will have a resources-led recovery.
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It is astounding that even as Minster Wong talks about local emission reductions the Treasurer banks on increased coal exports. In mid 2008 emissions from Australian coal burned overseas were about the same (600 Mt CO2) as domestic emissions from all sources including transport. As hinted one option would be to levy a coal export tax or perhaps impose a carbon tariff on finished good from certain countries. That's if Australia cleaned up its own act first. A simpler approach might be to say that all coal production for both domestic and export must shrink say 4% a year ie no more coal mining after 25 years.