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Agreed that there is ultimately no future in fossil fuels. However:A Global carbon tax makes sense in terms of redirecting investment to non CO2 polluting technologies. And regardless of global warming issues we need to find long term renewable energy technologies. Fossil fuels can only disappear in the foreseeable future.
1. A purely Australian carbon tax, or even one that includes (say) the EU, is completely ineffective in this regard. It must be either global, at the same rate everywhere, and backed with rigid tariffs and/or sanctions against non-taxing countries.
2. The carbon tax encourages the use of natural gas, a relatively scarce resource, in preference to the far more plentiful coal whilst doing basically nothing to address the oil situation. As a means of bringing about action to address fossil fuel depletion, it is an incredibly blunt tool that is in many regards counterproductive.
Agreed that we need to move away from oil, gas and coal in that order, but this tax or an ETS isn't an effective means of facilitating that shift. For a start, they focus very heavily on electricity generation when the main near term fuel problems relate to transport.