Australia to Charge Biggest Polluters

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Australia is one of the world's largest polluters per capita thanks to its use of coal, and now it's trying to make amends. The government plans to roll out one of the world's largest carbon-pricing plans, charging a fixed price of $24.74 per carbon ton emitted starting in mid-2012. The cost would increase 2.5 percent per year until 2015, when a floating-rate price will take effect. The move is a gamble for Prime Minister Julia Gillard's minority government, with the center-right opposition opposing the deal.