Sourced of - Senator Gerard Rennick - https://www.youtube.com/watch?v=HhTM2lRZdkE Last week the Labor party passed the Safeguard mechanism. This is without a doubt the most destructive bill ever passed during my time in the Senate. Long story short, companies will be forced to buy carbon credits, more likely from offshore countries to offset carbon emissions. These offsets however are being capped at 30% of emissions so that companies that can't buy offsets will either be forced to close down or move their business offshore. The legislation will destroy industry and jobs in this country. Our resource and agriculture sector will be hardest hit by this measure. They are Australia's two biggest exports earners. All for a gas that can be recycled naturally via photosynthesis. Make no mistake the Labor/Greens alliance are determined to destroy our country. "The Safeguard Mechanism catches any entity or company (“facility” in the Bill) whose operations emit more than 100,000 tonnes of CO2 equivalent (CO2-eq) per year. CO2-eq theoretically converts all greenhouse gas emissions to the equivalent of CO2 in terms of their estimated global warming effect. Apparently 215 facilities are caught right now in the Mechanism, but this of course could change. Coming into effect on July 1, the Clean Energy Regulator will establish baseline emissions for each facility which they will have to better by at least 4.9 percent each year until 2030. Bear in mind that the 4.9 percent is a constant number deducted from the initial baseline. So a baseline of 100 kilotonnes becomes 95.1 in year one; 90.2 in year two; 85.3 in year three and so on. In other words, the percentage reduction becomes more burdensome as the years roll on." Quote from: https://quadrant.org.au/opinion/doome...