There is a claim that, by the end of this century, Australian coastal communities will experience rising sea levels of up to more than 1 metre because of the anthropogenic carbon dioxide emissions causing global warming. This is the major argument supporting the Australia's Carbon Tax set to become law early next year. Under this legislation, 500 large Industrial manufacturers who emit carbon dioxide will be compelled to pay, from profitable income, for every tonne of carbon dioxide. Most of these emitters are electrical power generation and mining companies and heavy industry manufacturers. To compensate households for projected rising costs, due to the increased taxing pricing caused by this Carbon Tax, the government will cut income tax for smaller industries, boost payments to pensioners and offer various lump sum payments to small companies. This Australian scheme covers approximately 60% of Australia's emissions, making it the most broad-based scheme presented to the world. This carbon pricing will affectively apply to the 22.6 million Australians (2011) living in a 7,682,300 square kilometres country which is a relatively small number, proportional to the 7 billion people worldwide. The paper shows that locally and globally measured data, collected over short and long time scales, prove that the claim of sea level sharply accelerating is false.