Resolving Energy Policy Dilemmas in an Age of Carbon Constraints

Ross Garnaut

Australian Economic Review, 2014, vol. 47, issue 4, 492-508

Abstract: type="main" xml:lang="en">

Twenty-first century global energy markets have been disrupted by unexpectedly rapid growth in demand, especially in China, and by policy to reduce carbon emissions. These developments have led to reductions in emissions intensity, reduced costs of non-fossil energy and expanded deployment of unconventional gas technologies. Both traded and non-traded elements of domestic energy prices have increased more in Australia than in other countries in the twenty-first century, as domestic policy has interacted with rising world prices. Policy reform, macro-economic adjustment and utilisation of exceptional endowments of non-fossil energy could see the return of relatively low-cost energy in Australia.

Date: 2014
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