Congratulations to the Australian parliament...

Interesting that the Greens helped defeat this...

Australia's parliament rejected a plan for the world's most ambitious emissions trade regime as expected on Thursday, bringing the nation closer to a snap election and prolonging financial uncertainty for major emitters.

Conservative lawmakers holding the largest block of votes in the Senate joined with Green and independent Senators to defeat the government's plans for a Carbon Pollution Reduction Scheme set to start in July, 2011.