Hey Boof - I'm not much of an offsets fan either - too easy to exploit as a loophole.

I'd prefer a carbon tax, but a hard line on cap and trade would be a nice substitute...

The thing about tough cap and trade is that it is target driven whereas carbon tax may miss badly, particularly with the rebound from the revenue giveback. If we stay under the cap we are rewarded with no penalties so in a recession it becomes redundant.

However I fear that the generation, coal export, smelting and farming lobby groups have already 'got to' Rudd so that continued giveaways are a done deal.