Mathias Cormann (WA, Liberal Party, Shadow Assistant Treasurer) Share this | Hansard source

asked the Minister representing the Treasurer, upon notice, on 18 August 2011:

With reference to the Treasury Carbon Tax modelling, Strong growth, low pollution: Modelling a carbon price:

(1) Is it factually correct that the results of Treasury modelling show that, for the medium global action scenario, the gross domestic product-per-person cost for countries in the Organization of the Petroleum Exporting Countries (OPEC) in 2050 will be around 20 or more times the estimated cost for the United States of America or the European Union.

(2) Is it also correct, based on the figures in Table 3.8 of the Treasury modelling and Treasury's real carbon price projections, that Treasury is forecasting that by 2050 the OPEC bloc will be collectively spending around US$150 billion a year in real, 2010 US dollars to buy carbon credits from other nations.

(3) What probability does Treasury attach to this actually occurring.