SOURCE: Industrial Info Resources

Industrial Info Resources

November 14, 2011 06:45 ET

Landmark Carbon Tax Passed by Australian Senate, an Industrial Info News Alert

PERTH, AUSTRALIA--(Marketwire - Nov 14, 2011) - Researched by Industrial Info Resources Australia (Perth, Australia) -- The landmark Australian Carbon Tax is on track as planned after the Senate passed the Clean Energy Bill earlier this week.

The final vote rang in at 36 in favour to 32 against. Australia is led by two houses of parliament, Labour and Liberal; both parties have approved the Clean Energy Plan, which aims to decrease carbon pollution by 160 million tons per year or more by 2020. Beginning July 1, 2012, a $23-per-ton price on emissions will apply to about 500 of Australia's biggest polluters. The $23 price will remain fixed for three years, after which, the price will be subject to the market environment, with a floor price of $15 per ton.

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