Australia's Defeat of Climate Change Bill Provides a US Leading Indicator

Australia's Senate defeated the third attempt to enact a carbon emissions cap bill showing yet again the political hurdles facing any economy-wide carbon cap-and-trade legislation. These hurdles will only be higher here in the US making the prospects of a domestic emission reduction bill getting passed anytime soon extremely low in my opinion...and this would be the case even if there weren't a raging scandal over the legitimacy of the scientific research used to justify such sweeping climate change legislation.