Prime Minister Kevin Rudd has twice had his cap-and-trade bill swatted down by the Senate, with opposition centring on the notion that that slapping a price on carbon would unhinge the Australian economy, and make it more vulnerable to foreign competition. Debate is due to resume next month.
After being rejected the first time, Rudd caved to opposition demands to sweeten the bill with even more carve-outs for carbon-intensive industries such as steel and mining, in the form of free permits.
