This is the kind of thing which an ETS can make happen in a volatile political environment. A tax on the other hand can be better handled.
THE Rudd government is considering doubling compensation to the coal industry to $1.5 billion to protect mining jobs under a carbon emissions trading scheme as public opinion shifts definitively against Australia committing to carbon cuts before the rest of the world.
Update: Jon Stewart (best newsman in the world) explains what happened to the capntrade bill in the US. Same thing is expected here.