Isn’t this a good news story?

The way this started, you would have thought that the Government was slipping this in under the cover of Christmas so that no one would notice. From The Age naturally:

Environment Minister Greg Hunt has quietly published data, just two days before Christmas, showing the second year of operation of Australia’s carbon price was more successful at reducing emissions than the first.

New data from Australia’s National Greenhouse Gas Inventory show emissions declined across Australia by 1.4 per cent over the 12 months to June.

That compares to a decline in emissions of 0.8 per cent for the previous 12 months.

The carbon price was introduced by the Gillard government and began operation on July 1, 2012. It ended on July 1, this year after the Abbott government fulfilled an election pledge by abolishing it.

The sneaky dogs, not telling us how wonderfully it was all working. Tim Blair, however, brings it all into the light, under the cryptic heading The Joy of Pointlessness:

According to the National Greenhouse Gas Inventory, Labor’s carbon tax reduced carbon emissions by 0.8 per cent during its first year and by 1.4 per cent during its second year. In other words, it cut Australia’s 1.3 per cent global carbon dioxide contribution by next to nothing.

And the cost of this minimal reduction? $7.6 billion. Labor’s Andrew Leigh evidently believes this was money well spent, and is upset that carbon generation has now returned to the same level it was in August 2013.

Nevertheless, it is astonishing that the Government did hide the announcement in this way. Either most of the country sees the pointlessness, which should mean it deserves a larger run, or it doesn’t, in which case we will return relatively soon to this exercise in poverty creation.