Climate Change and Carbon Dioxide (CO2) Essay

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Climate change or colloquially known as global warming, now pose a new threat to civilization as the levels of greenhouse gases (GHG) are soaring to new levels. The most significant contributor to greenhouse gasses would be Carbon Dioxide (Co2). The levels of Carbon Dioxide (Co2) gas have risen to levels civilization has not seen before. As such, the effects of these levels are not known to civilization as data gathered from the ice cores drilled in the Antarctica only shows data up to 650,000 years ago. However we can conclude that present CO2 concentrations are higher compared to any time in the last 650,000 years (IPCC 2007). Current carbon dioxide concentrations are hovering around 389 parts per million (ppm) as of September 2011, compared to the pre-industrialized times (1000- 1750) of 280 ppm (Co2Now). The rate of increase of the levels of carbon dioxide is about 1.9ppm a year (IPCC 2007) .The increase in carbon dioxide levels since the industrial revolution is mainly due to CO2 emissions from the burning of fossil fuels such as coal and oil. Therefore if no action is to be taken, the levels of carbon dioxide would soar up higher and the effects to civilization could be devastating.

To see what extend Australia is in, the following mentions Australia’s position in carbon emissions. Australia, which is a developed nation and a member of the OECD, currently holds the record for being the nation with the highest carbon dioxide emissions per capita among other developed nations (Garnaut 2011). According to Garnaut , Australia emits 26.7 tonnes of greenhouse gasses per-person per year compared to other developing nations such as Luxembourg, United states, Canada and Ireland which emits 26.1, 23.1, 20.6 and 16.5 tonnes respe...

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...DP. So in reality, we can see a total net increase in GDP after the implementation of the carbon tax. It is said that the plan will raise around $27.3 billion over the first four years and will cost $31.6 billion (Oliver 2011). This in addition to the over compensated benefit payments to lower income families would stimulate the economy and this is why we see no reason to change our GDP growth forecasts at this stage compared to pre-carbon tax introduction.

In conclusion, it is economically viable and necessary for the carbon tax to be implemented, which would reduce carbon emissions in Australia. The Australian public would not be greatly affected by the rising cost. Over time, with a price being put on carbon, investment in clean energy and growth in cleaner industries will likely offset reduced investment and slower growth in dirty energy and sectors.

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