Caltex attacks "flawed" emissions scheme

So here is a prime example of the effect the ETS will have on the Australian economy, which the government is working hard to keep under the radar so that the public won't notice:

CALTEX chief executive Julian Segal has criticised the federal government's proposed carbon pollution reduction scheme, warning that it could mean the end of petrol refining in Australia.

Mr Segal described the government's proposed scheme as "flawed."

He said that if it was introduced, Caltex would not invest more funds in its two Australian refineries, as it would be cheaper to operate refineries in Singapore, where there were no plans to introduce an emissions trading scheme.

Mr Segal also said the price of petrol would fall after the scheme came into operation, because the federal government would be reducing the fuel excise.

He said this would provide an incentive for people to use more petrol, rather than less.

"From Caltex's point of view we do support an emission trading scheme of some kind as a tool to reduce emissions of greenhouse gases," he told the forum. [Turkeys voting for Christmas again - Ed]

"However, the CRPS in the form it is in today is, I believe, flawed."

Read it here.