15 Jul '11, 9pm

King Coal Australia Plans to Price Carbon

SO Australia’s carbon price cards are finally on the table. From July next year, the Federal Government will look to price greenhouse gas emissions at $23 per tonne rising 2.5 per cent each year. Then, in 2015, this is replaced by a cap-and-trade system with the price set by the market. That’s the simple explanation. The devil is in the detail, of which there is an awful lot. To make the plan politically acceptable, a complex array of exemptions, sweeteners, compensation measures and adjustments to the tax system have been negotiated. Public debate so far has concentrated almost entirely on the financial winners and losers from the proposed Clean Energy Future plan. At the same time, the country’s position as the world’s leading exporter of coal looks even more secure. As far as the general public is concerned, the Labor-led Government says the carbon tax will raise consum...

Full article: http://www.desmogblog.com/king-coal-australia-plans-price...

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