The CPRS, which would have covered 75% of the country’s emissions when it came on line in 2011, faced ferocious opposition in the senate. The Greens did not feel its carbon constraints were stringent enough, while the opposition Liberal Party warned that it would strangle critical domestic industries such as mining.
The ruling Labor Party, led by Prime Minister Kevin Rudd, vowed to bring the bill back to the Senate floor in three months.
