Will China be able to wedge Mr Turnbull into introducing an ETS? Free market pundits keep telling us “this is the only way” because “markets” are so much more efficient, despite the fact that economic growth is a lie for most of us. IPCC points out that, for transparency and fairness between countries, you can’t beat a tax. It comes down to political will, for ETS, the cap needs to be few enough tonnes CO2, while for tax, it needs to be high enough. Free marketeers say tax doesn’t work but experience is that investment took off, in rooftop solar PV, efficient appliances and building improvements, which all reduced payment of carbon tax via power companies.