Australia Plans Carbon Tax for Largest Emitters

Julia Gillard, Australia’s prime minister, has disclosed plans tax the country’s 500 largest emitters of carbon dioxide (CO2), including chemical and plastics producers, to the tune of A$23 ($25)/m.t. of CO2. The proposed system would run for a period without any trading of permits, after which the set price would be replaced by an emissions trading scheme featuring a market price. That plan is due to start up on July 1, 2012.   According to the proposals, chemical and plastics manufacturers are set to receive 66% of their emissions permits for...

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