Along with Japan's feed-in tariff going into effect, there was
another big milestone July 1 - Australia's carbon tax is now in
force. Although it only affects Australia's largest polluters,
such as coal-fired plants and smelters, the bill is extremely
controversial and could end up costing Prime Minister Julia
Gillard her job. Recently, the number of companies affected was
reduced from 500 to 294 to calm down fierce opposition. The
final group accounts for about 60% of the carbon emitted in
Australia each year - roughly 550 million tons. They are power
plants, steel manufacturers and mining companies. The price for
emitting a ton of carbon starts low at $23 and escalates over
time until carbon trading starts in July 2015, when companies
can also buy offsets and trade with those in other countries
with cap-and-trade programs. Although the law contains
sweeteners for every stakeholder from big emitters to
individuals, and creates an A$10 billion clean energy finance
fund, Australia's conservative opposition par