Federal ALP backs greenhouse trade plan

LABOR'S environment spokesman Anthony Albanese has attacked the Government's refusal to back the creation of a national gas emissions trading scheme.
The states and territories are due to release a discussion paper today on the setting up of a gas emissions trading system.
But the Federal Government says it remains opposed to such a scheme because it will increase the cost of power and petrol.
"Climate change is the most important issue facing the global community and a national emissions trading scheme is the least cost way of reducing emissions," Mr Albanese said.
He said Treasurer Peter Costello took an emissions trading plan to Cabinet two years ago with the support of four government departments but it was rejected by Prime Minister John Howard.
The states' "cap and trade" scheme would allow large amounts of emissions to be traded between companies for money.
It sets a national target of emissions for the three main polluting gases - carbon dioxide, methane and nitrous oxide