The ETS has been rejected, and the government has announced it will come back for a third try, adopting the failed deal with Malcolm Turnbull as its new policy. In short-run political terms, there are some obvious benefits here.
Clearly, a crucial consideration is that the government does not want to negotiate with the Greens and would much prefer a deal with the Liberals. But if they are looking at three or four terms in office (and they should be) they will have little choice but to make such deals.
I hope this bill is rejected once again, and that the government finally bites the bullet for a double dissolution.