It was fixed at A$23 per ton of greenhouse Max Workouts gases emitted in its first year, rising every year until it was due to shift to a market-set mechanism from July 2015. Toxic Tax Abbott pledged his Liberal-National coalition would repeal what he called the toxic tax after winning government in September, blaming it on higher electricity prices. He has said that repealing the price will still allow the worlds 12th-largest economy to meet its promised 5 percent reduction in emissions by 2020. Palmers party will effectively control four upper-house seats in the 76-seat Senate from next month. It supports retention of Australias Renewable Energy Target , which was instigated to ensure 20 percent of the nations electricity come from renewable sources by 2020. Gore, who was the focus of the documentary An Inconvenient Truth, which warned of the consequences of global warming, flew to Canberra for talks with Palmer yesterday. The former vice president had convinced Palmer to consider Abbotts laws and that the world needed to work together to combat climate change , the lower-house lawmaker said fitness today. While I will be disappointed if the immediate price on carbon is removed, because it is a policy which I believe to be ultimately critical to solving the climate crisis, I am extremely hopeful that Australia will continue to play a global leadership role on this most pressing issue, Gore said. Biggest Polluter Obamas bid to pressure nations including India and China to help form a world-wide agreement to combat climate change isnt being supported by Abbott, who is hosting Group of 20 leaders in November.
More: http://www.bloomberg.com/news/2014-06-25/palmer-to-support-abbott-s-australia-carbon-price-repeal.html