| Australia's prime minister, Kevin Rudd, said Tuesday a deeply unpopular carbon tax will be replaced by a less-severe emissions trading scheme a year ahead of schedule in a bid to lower power bills for households as a tight national election looms.
The carbon tax on Australia's worst industrial polluters, including its coal-reliant power producers, went into effect in July 2012 and was supposed to remain in place until 2015. At that point, it was set to be replaced by an emissions-trading scheme, in which the cost of emitting a tonne of carbon would be determined by buyers and sellers in a carbon market...............................................Full Article: Source |