Fairytale Facts - ETS will "boost economy by $6bn"

Looks like someone has been using second hand IPCC climate models to do some financial predictions - another perfect example of "garbage in, garbage out".

THE Rudd Government's emissions trading scheme could deliver a massive investment surge that would add more than $6 billion a year to the economy, according to secret economic modelling work produced as Parliament considers the fate of controversial climate-change laws.

An internal report by National Australia Bank seen by The Sun-Herald suggests the emissions trading debate in Australia has been dominated by claims about the short-term costs, and scant attention has been paid to new investment opportunities.

Believe this at your peril. Common sense dictates that taxing energy will stifle economies not boost them, but common sense is something modellers seem to have very little of. The only thing it confirms is that you can model something to give whatever result you want. Bear that in mind next time you hear an outrageous climate scare.

Read it here.