12 Oct '11, 8am

Australia Passes Landmark Carbon Tax

Australia Passes Landmark Carbon Tax

Parliament OKs plan to cut carbon to 5 percent below 2000 levels by 2020 Under a controversial plan passed today in the Australian parliament, Australia's 500 biggest greenhouse gas emitters will pay $23* for every ton of carbon they emit. The carbon pricing scheme, which will go into effect next July after the Senate's likely nod in November, has been a political hot button for the Australian government and for prime minister Julia Gillard. Even though packed with "sweeteners" that pull in political support but dampen its likely effect, the bill is considered by many as a huge step for Australia, the world's largest exporter of coal and a top leader in greenhouse gas emissions per capita . The Government estimates the carbon price will cost Australian households an additional $10 per week. But the bill passed today will also return more than half of the revenue raised to ...

Full article: http://ecopolitology.org/2011/10/12/australia-passes-land...

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