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Cap and Trade Takes a Big Hit in Australia

Breaking news: At a meeting of the Liberal Party's Members of Parliament today, Malcolm Turnbull was turned out as Leader and replaced by Tony Abbott on a 42 to 41 vote.  Abbott then immediately called for a vote of his colleagues on the Labour Government's cap-and-trade bill to ration energy and raise energy prices.  The vote was 54 to 29 against. A number of Liberal Members have risked their careers to stop cap-and-trade, including Cory Bernardi and Nick Minchin as well as Tony Abbott.  They should all be honored for their courageous stand. Toppling Turnbull was a necessary step, but it isn't the end of the story.   It is likely that the Senate will now defeat the cap-and-trade bill for the second time.  However, a few disgruntled Turnbullite Liberal Senators could provide the votes needed to pass it.  If it is defeated, Prime Minister Kevin Rudd could then call a general election of both the House and Senate.  So the fight is still to be won or lost.