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Australia drops carbon tax in favor of paying industries to use clean energy
For years, Australia has tried to fight polluters through a carbon tax that charges the most egregious offenders based on their greenhouse gas emissions. Prime Minister Tony Abbott doesn't believe that this strategy is helping much, however, and has just won a Senate vote that scraps the tax altogether. The nation will instead spend $2.55 billion AUD ($2.4 billion US) on the Emissions Reduction Fund, an attempt to curb pollution by paying industries to both reduce their emissions as well as use clean energy sources like solar and wind farms. In theory, it's a win-win: the average Australian home saves money ($550 AUD per year, Abbott's government says), but companies still have an incentive to use eco-friendly technology.
