Given the results of this weekend's federal election, it is now likely that the whole of the Australian economy is going to suffer the same indecision and paralysis that members of the renewable energy community have been suffering for the last three years.

If anyone thinks that a hung parliament is going to be beneficial to Australia, they should think again. The clean energy industry has been crippled by indecision. With a selection of independents controlling the lower house and the Greens in control in the upper house, one can only suspect that this indecision is going to last considerably longer.

If Tony Abbott or Julia Gillard are to seriously consider forming a stable government they need to reach agreement with the Greens on a responsible policy to tackle climate change. It's already looking like support will come from Oakeshott, Bandt and the Greens. (Malcom Turnbull might even cross the floor to get the job done).

The type of policy could simply be a circular carbon tax with border controls (a tariff on carbon-intensive imports). I'm sure anything with border controls would excite Bob Katter, and a circular tax – where the revenue raised is returned to individuals – could not be classified as a 'great big tax' by Mr Abbott.

The independents should also be attracted by a leader that undertakes the necessary action to commence dealing with climate change in a way that benefits the farming sector.

In the US, farmers are coming out in favour of action on climate change. A recent study commissioned by the National Farmers Union and Avoided Deforestation Partners has calculated that legislating to reduce the tropical deforestation of countries such as Indonesia would produce a net benefit to US farmers of more than $US200 billion.

The study found that eliminating deforestation would cut into the flood of cheap commodities and slow the expansion of agriculture on cleared land thus benefitting US timber, soybean, oilseed and beef industries.

While no such study has been done in Australia, it's not hard to comprehend that clearing land in Indonesia, which has a carbon value of $10,000 a hectare, and turning it into rural competitive real estate, which produces $200 a hectare, is both damaging for the environment and damaging to the competitive position of Australian farmers.

The Australian timber industry would benefit significantly from reduced illegal logging in neighbouring Indonesia and New Guinea, thereby creating more rural jobs in Australia.

We all know that reducing deforestation is the quickest and cheapest way to reduce greenhouse gas emissions. How long will it be before the Greens, in conjunction with truly concerned Independents, take logical action.

The arrival of the Independents in the lower house could also herald much greater transparency in ensuring that any further trade treaties Australia enters into are in the best interest of Australia and not the best interest of whoever the prime minister might be.

It would be interesting to see, today, if these members could review how successful, or otherwise, trade agreements like the US free trade agreement have been.

Potentially, as part of this bargain, they could seek amendments to that agreement to ensure that it is not as detrimental to Australia's future as it might otherwise be. 

Oliver Yates is Director of Bronze Boar Investments