That is good news and a greater reduction than I expected. Previously, Gillard had pledged they'd cut that same amount, a 160 million tons, over 8 years. Will efforts in AU now stagnate, having committed not to raise their C price for 2 years? Or will the tax should continue to drive CO2 cuts for the foreseeable future? News stories do make it sound as if their RE efforts are bright. Or could this be a variation of America's 'Yo-Yo' RE policies, as tax credits appear one year and expire the next? It is early. At this point the AU carbon tax appears to me an effective but clumsy tool.
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