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World’s Highest Carbon Price Bedevils Australia’s New Leader

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Kevin Rudd, sworn in yesterday for his second stint as Australia’s prime minister, may seek to amend his predecessor’s flagship clean-energy policy that’s left the nation with the world’s highest carbon price, analysts say.

Bloomberg New Energy Finance joined RepuTex in Melbourne and Climate Mundial in London in predicting Rudd will try to deflect attacks on Australia’s fixed carbon price, set to rise next month to almost four times the European rate, by pledging to speed up the shift to a market-based trading system.