I have a homework question for Greg Hunt.
"At the first 1km of a 10km race you find you have been running for 5 minutes. What is your average speed so far?"
I ask, because adopting the same procedure as he applies to calculating the cost per tonne of emissions reduction
under Labor's carbon tax he would answer 9km/5minutes = 108kmph.
To compute the cost per tonne of abatement, you have to divide the expense of making the abatement by the tonnes abated.
Instead, he uses the fees paid for non-abatement.
Had they all worked so hard, and spent much more, that no carbon taxes needed to be paid,
he would apparently have concluded that the abatement cost nothing!
What industries actually spent abating is probably unknown, but assuming rational behaviour it was surely less than $23/tonne.