Mark Buttler: [sector; annualize; offset; ] Okay, well, the Australian industry group said recently that to achieve the targets, say, that present Obama has put on the table would cost $25 billion for Greg's policy and that assumes that there aren't increases in emissions elsewhere. For example, what we've seen since the carbon price was abolished last year and Tony Abbott attacked renewable energy target is that emissions in the electricity sector have started to increase. The latest data was that, on an annualized basis, they've increased by more than 4 million tonnes per year. So, even taking Greg's 47 million tonnes that he bought with your money a couple of weeks ago over the next 5 to 10 years. If that increase continues almost all of it is offset by the increase in pollution for the electricity sector.
Greg Hunt: [believe it or not; generator; generate; string; handout] All right. The notion that the Carbon tax was free to the public is ridiculous. Firstly the public paid $15 billion; secondly there was $30 billion allocated to large companies - the large polluters, through the Carbon tax associated programs, including, believe it or not, $5.5 billion to brown coal generators with no strings attached to keep generating, AGL received $250 million in cash in the days before the carbon tax started. The largest tend out to a single industry in Australian history was to the brown coal generators under the previous company.
to use one cost, payment or situation in order to cancel or reduce the effect of another
believe it or not:
used for emphasizing that something is very surprising but true