(BN) Carbon Price Would ‘Unlock Free Market Genius,’ Gillard Writes


Carbon Price Would 'Unlock Free Market Genius,' Gillard Writes
2010-11-16 23:04:28.693 GMT

By Gemma Daley
Nov. 17 (Bloomberg) -- A price on carbon in Australia would
unlock "the genius of the free market," encouraging investment
and innovation, Prime Minister Julia Gillard wrote in an article
published in the Sydney Morning Herald.
Gillard, whose column was also carried in other Fairfax
Media Ltd. publications, said putting a cost on carbon was the
"only prudent answer" to uncertainty that has delayed
investment in power generation.
Gillard said the move would be a reform similar in scope to
floating the nation's currency and cutting tariffs, a step
needed to reshape the way the Australian economy works.
"By resetting price signals, we will open the door to a
new era of investment and innovation," Gillard wrote,
"creating thousands of jobs for Australians in the industries
of tomorrow."

For Related News and Information:
Bloomberg New Energy Finance Carbon Model: CARX <GO>
Emissions Market Monitor: EMMK <GO>
Most-read environmental news: MNI ENV <GO>
Most-read renewable-energy news: MNI ALTNRG <GO>

--Editors: John Viljoen, Aaron Sheldrick.

To contact the reporter on this story:
Gemma Daley in Canberra at +61-2-9777-8683 or

To contact the editor responsible for this story:
Bill Austin at +813-3201-8952 or billaustin@bloomberg.net