The bill was divided into two initiatives, a Carbon Pollution Reduction Scheme (AKA Renewable Energy Target) and an Emissions Trading Scheme.
Opposition of this legislation was split-half wanted it weaker, while the other half wanted stronger standards. They also wanted the bill split in half before passing the RET, believing it would be reckless to pass such a bill without knowing the actions of the global community and before the UN Climate Change Conference. For these reasons the bill did not pass (42 to 30) and will be re-submitted within 3 months, just in time for Copenhagen.
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