Renewable energy futures for Australia’s stock exchange
Australia’s ASX to launch renewable energy futures
Thu Sep 17, 2009
SYDNEY, Sept 17 (Reuters) – Australia’s futures exchange operator ASX Ltd (ASX.AX) plans to establish a futures market for renewable energy by the end of the year as the country seeks to quadruple green power generation by 2020.
ASX said on Thursday it hoped to list futures and options contracts on Renewable Energy Certificates (RECs) before the year-end as demand grows for RECs to offset greenhouse gas emissions and as consumers seek greener energy.
“We’re just waiting for final regulatory approval but expect to make an announcement shortly,” David Kresvan, ASX’s manager of energy and environmental markets, told Reuters.
In Australia, RECs are a form of currency that can be earned by installing solar panels, wind turbines and micro-hydro plants. Each REC represents one megawatt hour (MWh) of electricity generated from renewable energy and can be traded once registered. http://www.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idUSSP53326920090917
Workers’ anger at BHP’s chief officer pay rise
Workers angry at BHP CEO’s pay rise: CFMEU
Ewin Hannan | September 17, 2009
BHP Billiton has strongly defended the remuneration package of its chief executive, Marius Kloppers, after the coalminers union used his salary to declare “open season” on pay rises……
…Union delegates representing 5000 BHP employees will meet today to consider a push for significant pay rises and improved conditions, with officials saying any call for pay restraint would be met with contempt.
Tony Maher, the national president of the CFMEU’s mining division, said workers were angry at the pay rise awarded to Mr Kloppers……………..
US missile shield partly scrapped: role of Australia’s Pine Gap not clear
US to scrap part of missile shield
BRENDAN NICHOLSON, CANBERRA
September 18, 2009
THE US has abandoned key parts of its planned global anti-ballistic missile system, apparently to avoid offending Russia.
The Wall Street Journal said that the Poland and Czech Republic sections of the system would be shelved after a review ordered by US President Barack Obama.
It is not yet clear what that means for plans for the Asian sections of the system and joint experimental work being carried out by Australia, Japan and the US. That work is intended to thwart North Korea’s plans to develop nuclear weapons and ballistic missiles.
In September 2007, then defence minister Brendan Nelson told Parliament the joint Australian-US facility at Pine Gap provided information on ballistic missile launches of interest to Australia and could be used in any US missile defence system.
”As such, this would be a continuation of a ballistic missile early-warning partnership that we have shared with the United States for over 30 years,” Dr Nelson said.
At the time Ron Huisken, a senior fellow from the Australian National University’s Strategic and Defence Studies Centre, warned that Australia’s collaboration on missile defence with Japan and the US could agitate the Chinese as well as the Russians.
1 This month
of the week – Disrupting War & Militarism in Oceania. Active solidarity. Radical practice.
Antinuclear 