Three more months of will they, won’t they. That’s what we are in store for now that the Senate has finally voted the first time against the Government’s climate change bills. Talk of double dissolutions will dominate the air waves. There will be hundreds of column metres analysing the possibilities. And all of it will most likely be irrelevant because the chances of any meaningful international agreement on climate change are still slight. Anything that Australia does or does not decide is largely irrelevant in the worldwide scheme of things. If far more significance than what finally happens in our Senate is what the Senate of the world’s major polluter decides. And the odds of the United States having any form of cap and trade legislation by the end of this year are now put on Intrade as just 50%.
Without US participation Stockholm becomes a useless talk fest.