Cap and Trade Down Under, Part 3

It's been interesting to watch the carbon tax/cap and trade debate going on in Australia this month, as the politics seems to mirror much of our own here in the States.

For example, this account from the Sydney Morning Herald focuses on alleged "gaffes" from the leader of the opposition, Tony Abbott.  Rather than focus on the substance of the government's proposal, this media outlet chooses to parse old history on who said what, as if Mr. Abbott were Sarah Palin.

But the penultimate sentence provides useful information,

''Australia produces less than 1.5 per cent of the world's carbon emissions but will pay the world's biggest carbon tax.''

Not exactly good "value for money", I would say.