It passed and it will pass the Senate.
Whyalla won’t become a ghost town and the price of Corn Flakes will not spike. Australia will have a carbon trading scheme and the media can interrogate Abbott about how he will repeal it, forgo the revenue and struggle with a budget black-hole, and what else he will do in government.
This is no time to revisit the might-have-beens such as where we would be if Prime Minister Rudd had implemented a cap and trade scheme in 2007 instead of shuttling it to the Garnaut review; or what would have happened if the Green Party had passed the Rudd legislation in late 2009.
The government now needs to talk to investors and facilitate investment in the renewables sector so that there are ribbon-cutting milestones along the path of reduced carbon dependence.