The Australian 14th September 2010 Michael Stutchbury discussing the pros and cons of a carbon tax:
‘But a 2008 report co-authored by Centre for International Economics director Derek Quirke found that producing ethanol fuel from wheat required $680 to $790 of subside for each tonne of carbon-emissions saved. You could get 20 times the emissions reductions by buying carbon offsets on the Chicago Climate Exchange.And the ethanol subsidy threatens to push up feedstock costs for Australia’s beef producers.’