Senator BRANDIS (Queensland—Deputy Leader of the Opposition in the Senate) (14:03): It just goes to show, Minister, that different experts can arrive at different conclusions. Mr President, in a supplementary question I refer the minister to the other conclusion drawn by UBS, which is that, had Europe used the $287 billion wasted on its failed ETS to instead replace the European Union's dirtiest power plants, emissions could for that price have been reduced by 43 per cent instead of by almost zero per cent through the ETS.