Sanity wins Down Under. The warmist fantasy embraced by Labour Prime Minister Kevin Rudd had led to what Reuters correspondent Rob Taylor earlier called a "day of reckoning." The BBC reports: The Australian parliament has rejected government plans to introduce an ambitious carbon trading scheme to tackle global warming.The measure was the centrepiece of the government's environment plans, and would have cut greenhouse gas emissions by 5% over the next 10 years. But opposition senators who control the upper house feared the legislation would harm the country's mining sector. The battle is not yet over, however. Bloomberg reports:Rudd, who needs support from seven senators outside the government to pass laws through the upper house, can resubmit the bill after making amendments. A second rejection after a three-month span would give him a trigger to call an election. "We may lose this fight, but this issue will not go away," Climate Change Minister Penny Wong told...(Read Full Post)