Waht happens to carbon trading after Durban

The government is ignoring the warning signs of collapsing permit prices in Europe.
The collapse of the price of carbon permits in Europe tells you everything you need to know about the prospects for international carbon trading. Unfortunately, the government isn't listening.
Earlier this week Climate Change Minister Greg Combet rejected the idea that there are serious issues with international carbon trading and yesterday spoke rosily about the global carbon market's prospects while the EU carbon price crashed.

Have a look at the attached document for further information. It would appear from this article that the Government is clearly out of step with reality