Implementing an ETS is in theory supported by both sides of...

Implementing an ETS is in theory supported by both sides of politics plus the Greens. There are some loony right wing politicians who do not support an ETS but ultimately the Libs will have to vote for it in one form or another as it is Lib party policy. The Nationals may be allowed to vote against it. It is also coupled with the RET (Renewable Energy Target) bill which has expanded RET's. The Libs want to decouple the two bills and pass the RET immediately, as is, but Labor wants the two bills to be treated as a unit.

There is speculation the legislation will be sent back to the senate in November. If it is voted again then the government can use that as a trigger for a double dissolution i.e. a general election including both halves of the senate. The general feeling is that the Libs won't want that because they'll lose the election. It could be good for Labor as they may be able to get control of the senate.

I suspect the legislation will be passed with amendments in November.

I imagine both bills will have an impact on CNM but the RET is the big one in my opinion.