Friday, April 30, 2010

Australian Government Puts Emissions on Back Burner

According to the Sydney Morning Herald, the Rudd Government has put off indefinitely a Senate vote, which was due next month, on its emissions scheme. Last December the Senate rejected the trading scheme for a second time. The opposition and the Greens were combining to fight a third attempt. The latest delay means that the Government is running out of time to pass the scheme in time for its start date of July 1, 2011. A spokesman representing investment banks, including Goldman Sachs and Deutsche Bank, expressed disappointment over the postponement.

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