UN clilmate talks face high obstacles in Durban.

UN clilmate talks face high obstacles in Durban.

Carla Gottgens/Bloomberg

Steam billows from the cooling towers of Great Energy Alliance Corp.'s Loy Yang coal-fired power station in the Latrobe Valley, Australia. Australia, which burns coal to produce about 80 percent of its electricity, plans to start a cap-and-trade system in 2015 that allow companies that create lower emissions than their cap to then sell unused permits to other polluters.