Naked Capitalism Link of the Day

Today's link: Australia plans to impose carbon tax on worst polluters, at the BBC:

Prime Minister Julia Gillard said carbon dioxide emissions would be taxed at A$23 ($25; £15) per tonne from 2012.
The country's biggest economic reform in a generation will cover some 500 companies. In 2015, a market-based trading scheme will be introduced.
Households are expected to see consumer prices rise by nearly 1%, and the move has been criticised by the opposition.
Critics argue the levy would damage economic competitiveness.

Australia is one of the world's worst emitters of greenhouse gases per head of population.

The country relies on coal for 80% of its electricity generation, and is a major coal exporter.
Under the new scheme set to begin on 1 July 2012, the government plans to include any company that produces at least 25,000 tonnes of carbon dioxide per year.
However, agriculture, forestry and land will be excluded from the levy. Motorists are also to be exempt, except for heavy lorries.
Steelmakers, coal mines and electricity generators will receive compensation to ensure they stay in business. Other tax cuts are planned for consumers.

Interesting.  One more policy taken on by another developed economy, which will be blocked by Republicans in the United States.  It is unfortunate that religious fundamentalists (of which we have plenty) are so convinced that God gave us the Earth to trash, and any attempt to lessen our impact on the environment should be thwarted.