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NewsMail Morning Edition Mon 03 Nov, 2014 Top Stories More Top Stories » Greenhouse gas at highest levels in 800,000 years, UN says By environment and science reporter Jake Sturmer The world's top scientists give their clearest warning yet of the severe and irreversible impacts of climate change. In a report, the United Nations climate change panel warns that greenhouse gas levels are at their highest point in 800,000 years, with recent increases mostly due to the burning of fossil fuels. More » Construction boss George Alex went shooting with Islamic State recruits Counter terrorism exercises held in Brisbane CBD as G20 security ramps up Virgin 'wasn't up to speed' and warned about safety Doctors call for weight loss surgery in public health system Government delivering in spades for WA: Abbott Misbah's equal-fastest Test century puts Pakistan in total command Iran jails British woman for 'watching volleyball' Family vows to rebuild after Blue Mountains blaze Man detained women in car, asked for sex: police More Analysis » The Direct Action assault on free market thinking The first thing any student of basic economics learns is that a free market is the most efficient method to allocate resources. And this is where Direct Action gets it all wrong. In shifting from a carbon price to a subsidy mechanism, the decisions on who will take action and what action will be taken to reduce emissions will now fall to bureaucrats. From a political and economic perspective, it would have been far better for the Government to move from a tax to a market price for carbon. More » Are we creating the 'clash of civilisations'? A 'lottery' electoral system could break our malaise Did Led Zeppelin borrow its Spirit? Walking as a woman: when 'compliments' are threats Selfish politics means a rocky road to reform Brand is the pied piper of anti-politics - don't follow The missing component of the new security bills Our economic policies are stuck in old Australia No proper case made for mass surveillance Just In More Just In » IS militants kill hundreds in massacre in Iraq Islamic State militants have killed 322 members of an Iraqi tribe in western Anbar province, the government says. More » Review of plans for hospital in Hobart's Queen's Domain Guitar death report: psychiatric patients not checked by staff Djokovic close to sealing number one after winning Paris Masters Poll suggests comfortable Labor win in Victoria election 'Stupid' Chris Smalling costs United in Manchester derby Counter terrorism exercises held in Brisbane CBD as G20 security ramps up Virgin 'wasn't up to speed' and warned about safety Construction boss George Alex went shooting with Islamic State recruits Love blossoms after woman seeks out sperm donor World More World » IS militants kill hundreds in massacre in Iraq Islamic State militants have killed 322 members of an Iraqi tribe in western Anbar province, the government says. More » Virgin 'wasn't up to speed' and warned about safety Explosion on Pakistan-India border kills at least 45 Pro-Russian rebels win crushing victory in vote for leaders in eastern Ukraine Iran jails British woman for 'watching volleyball' 120,000 protest against water charges in Ireland Business More Business » Emissions Reduction Fund to begin allocating money next year The Federal Government will start allocating money from its Emissions Reduction Fund early next year, Environment Minister Greg Hunt says. The Government's $2.5 billion Direct Action climate change policy, which includes the fund, passed the Senate late last week with the support of the Palmer United Party and independent senators Nick Xenophon and John Madigan. As part of the policy, companies will be able to compete for Government funding to pay for programs to reduce carbon emissions. Opposition environment spokesman Mark Butler says the Emissions Reduction Fund is a waste of taxpayers' money. More » Car industry suppliers facing grim future as grants fall short Branson vows to continue quest for space travel despite crash Katherine residents fear premiums could rise with TIO sale ANZ announces record profit of $7.3 billion Stock market ends month on a high Politics More Politics » Pro-Russian rebels win crushing victory in vote for leaders in eastern Ukraine The main rebel leader in Ukraine's largest separatist region wins a crushing victory in a controversial election Ukrainian president Petro Poroshenko labelled "a farce". More » Government delivering in spades for WA: Abbott 120,000 protest against water charges in Ireland SA Government proposes ASC privatisation Islamic State kills 85 more members of Iraqi tribe Sport More Sport » Misbah's equal-fastest Test century puts Pakistan in total command Misbah-ul-Haq smashed the equal-fastest ton in Test history with Australia looking doomed to a 2-0 series whitewash. More » Your say: What is behind Australia's poor series against Pakistan? 'Stupid' Chris Smalling costs United in Manchester derby Djokovic close to sealing number one after winning Paris Masters Wanderers fans hail Asian champions Australia holds out for 16-12 Four Nations win over England Science and Technology More Science and Technology » Virgin 'wasn't up to speed' and warned about safety A space safety expert says she warned Virgin about safety concerns after the deaths of three engineers in a rocket engine explosion in 2007. More » Branson vows to continue quest for space travel despite crash Co-pilot killed in Virgin Galactic spaceship test flight crash PM's science prize winner warns 'best and brightest' will leave Jetpack transport closer with company to list on stock exchange Environment More Environment » Greenhouse gas at highest levels in 800,000 years, UN says By environment and science reporter Jake Sturmer The world's top scientists give their clearest warning yet of the severe and irreversible impacts of climate change. In a report, the United Nations climate change panel warns that greenhouse gas levels are at their highest point in 800,000 years, with recent increases mostly due to the burning of fossil fuels. More » Emissions Reduction Fund to begin allocating money next year Hunt, Palmer resist criticism of Direct Action deal Sydney's drinking water 'at risk' from mine expansion Deal with Clive Palmer sees Government salvage Direct Action About this email You received this email because you are subscribed to ABC News email alerts. This message was sent to you at starnewsposting@gmail.com Please add newslists@your.abc.net.au to your email address book to see images by default and stop the email being treated as spam. This email address is not monitored - Please don't reply to this email. Manage your preferences | Unsubscribe | Contact Us   This service may include material from Agence France-Presse (AFP), APTN, Reuters, AAP, CNN and the BBC World Service which is copyright and cannot be reproduced. Australian Broadcasting Corporation, 700 Harris Street, Ultimo NSW 2007 © 2014 ABC | Conditions of Use | Privacy Policy | Discover other ABC Email newsletters