I have added the following table which summarises the differences between taxes and trading schemes:
http://www.ozpolitic.com/green-tax-shift/green-tax-shift.html#taxes-vs-trading
This is good news:
EU to include planes in emissions tradehttp://news.smh.com.au/eu-to-include-planes-in-emissions-trade/20071221-1iel.html
European Union environment ministers agreed on Thursday to include airlines in the bloc's emissions trading scheme from 2012 as part of its fight against climate change.
The EU's 27 governments will now negotiate the final deal with the European Parliament, which has voted for airlines to join the system in 2011.
The plan has irked the United States, which has threatened litigation at international arbitration bodies, and has drawn criticism from airlines and top officials of the International Air Transport Association (IATA).
Energy use to slow down: ABAREhttp://news.smh.com.au/energy-use-to-slow-down-abare/20071221-1igl.html
The pace of energy usage between now and 2030 is expected to slow as the Australian economy becomes more services-oriented, the nation's commodity forecaster says.
Under a scenario of "no new policies", energy consumption will grow by 1.6 per cent a year continuing a declining trend from the 1960s when annual growth topped 5.0 per cent.
ABARE projects that natural gas consumption will rise by 2.6 per cent a year over the outlook period, accounting for 24 per cent of total primary energy consumption by 2029-30.
Mr Glyde says renewable-energy consumption is also projected to increase, albeit from a smaller base.
"With the support of only currently established policy measures renewable energy would increase by an average annual rate of 2.4 per cent out to 2029-30."
The transport sector is the country's largest consumer of energy, but ABARE expects its share of total final energy consumption will fall from 39 per cent in 2005-06 to 36 per cent in 2029-30.
The mining sector, with a large number of projects expected to be commissioned, will increase its share energy consumption from 7.0 per cent to 12.0 per cent.
Production of coal and gas is projected to continue to grow strongly and be major export earners for Australia."
"Several new oil projects are expected to increase Australia's crude oil production over the next few years," Mr Glyde said.
However, in the longer term, the ratio of oil production to consumption is expected to fall with Australia becoming more reliant on oil imports in the period to 2030.