Antinuclear

Australian news, and some related international items

Uranium interests, not the public’s, served by BHP’s Marius Kloppers

A tax would favour international nuclear electricity generators and boost pressure to overturn Australia’s ban on nuclear generators. Both effects would aid BHP’s uranium interests.


BHP Billiton chief Marius Kloppers knows how to look after his shareholders’ interests, Paul Kerin The Australian, September 20, 2010 BHP Billiton chief executive Marius Kloppers’ touting of a carbon tax serves his shareholders’ interests — not the public’s. 

….he was just a CEO adopting smart tactics to serve his shareholders’ interests in response to changed circumstances…..

A tax would favour international nuclear electricity generators and boost pressure to overturn Australia’s ban on nuclear generators. Both effects would aid BHP’s uranium interests. Interestingly, former BHP chief Paul Anderson advocated a US carbon tax while running Duke Energy in 2005.

Even though Duke used coal to generate 29 per cent of its electricity, some claimed Anderson’s advocacy was in Duke’s self-interest because its nuclear plants generated 18 per cent and it was planning more…..

But why is a carbon tax better for BHP shareholders than an ETS? After all, they’re just alternative ways of putting a price on carbon. The critical difference is who sets the price — government or the market…..

a tax gives vested interests the opportunity to oppose every tax increase, while ETS prices adjust to market conditions automatically…..

Kloppers’ proposal has a further timing. A lower carbon tax is more likely to be negotiated while the minority government is new and feeling its way, and if it can be kept out of next year’s tax summit…..

Kloppers’ speech pushed BHP’s self-interest in various other ways. For example, his statement that carbon taxes of “trade-exposed industries must be rebated until a global emissions reduction system is in place” means that his tax would cost BHP little or nothing…… BHP Billiton chief Marius Kloppers knows how to look after his shareholders’ interests | The Australian

September 20, 2010 - Posted by | AUSTRALIA - NATIONAL, climate change - global warming, energy, politics, uranium | , , , , , , , , , , , ,

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