Garnaut & Carbon Trading

Against the appropriate back-drop of a record heat wavee in southern Australia (in March of all months, with Adelaide experiencing 15 consecutive days>35 degrees)Ross Garnaut released another interim report. This one, with thoughts on emissions trading, broke the news that carbon trading would bring higher energy prices (duh!, after all that's the point right). However, he also indicated that the big emitters and energy utilities shouldn't receive a free lunch in the way of carbon permit hand-outs (as suggested by the last government).