On July 1, Australia’s government introduced a price on carbon, with the aim of reducing carbon emissions by allowing the buying and selling of permits for emissions of certain pollutants, or credits for reductions in emissions. The emissions-trading scheme doesn’t actually begin until July 1, 2015, but the carbon price has been fixed in the meantime at $23/ton and will rise 2.5% a year in real terms until mid 2015....
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