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Carbon trade seen losing globally in Aussie vote

Posted on 20 September 2013

Australia is at risk of breaching a global agreement to cut greenhouse gases as power markets signal Prime Minister Tony Abbott will exploit the widest election victory in nine years to repeal the nation’s carbon system.
Electricity futures prices show the implied costs of emitting a metric ton of carbon in Australia plunged 18 percent in the two days following the Sept. 7 election, bringing its monthly decline to 55 percent, according to data compiled by Bloomberg. At their lowest, prices indicated an 80 percent probability that Abbott will overturn the law that charges the nation’s polluters for their CO2 emissions, according to Bloomberg New Energy Finance………………………………………Full Article: Source


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