10 November 2011
In a bold move, Australia has passed a carbon tax. The 500 largest polluters will pay $23 per tonne. Farmers can cash in by selling carbon offsets, presumably through ways including soil carbon sequestration.
Obviously, the measure’s not popular with everyone. Australia mines and uses a lot of coal, even though, as part of the law, there is a lot of money appropriated to support displaced jobs. Scientific American has the story here.