BHP Billiton’s carbon tax policy aimed to promote its uranium mine
BHP has an interesting little asset called Olympic Dam in South Australia where it is considering a major series of upgrades. Expanded Olympic Dam output would exceed one quarter of global mined uranium. …..Olympic Dam is the world’s largest known uranium deposit,
BHP: A Wolf in Sheep’s Clothing? The Star, by Mark Taylor | 15 Oct 10 Why would BHP BHP CEO Marius Kloppers express support for a carbon tax? The mining industry has its fair share of climate skeptics. Geologists and model-based climatologists have very different views of the world. Does BHP stand to gain or lose from a carbon tax? Marius Kloppers himself has circa two million shares at stake. This excludes future grants as part of his remuneration package.
BHP is a diversified company,….It is likely that this diversification could again prove at the very least a partial hedge against a carbon tax. It is a feature many competitors don’t enjoy.
Carbon-heavy energy coal is not a major component of BHP’s earnings stream….
BHP has substantial gas interests, a potential winner versus other more carbon-intensive hydrocarbons. The company’s oil interests sheltered it from the impost of sky-rocketing oil prices on other divisions in 2008. Growth in worth of gas assets might achieve some of the same under a carbon tax……
What about Klopper’s call for Australia, a drop in the ocean of global carbon emitters, to unilaterally lead the world in taxing carbon? Well from BHP’s perspective it might not be devastating. Around one third of earnings, 45% of assets, 60% of employees and 40% of taxes are non-Australian.
These are operations that aren’t subject to the Gillard Government’s proposed minerals resources rent tax (MRRT). And finally BHP has an interesting little asset called Olympic Dam in South Australia where it is considering a major series of upgrades. Expanded Olympic Dam output would exceed one quarter of global mined uranium. …..Olympic Dam is the world’s largest known uranium deposit, alone housing 40% of the planet’s resources. That’s one hell of a call option on a re-rating in uranium prices. Moreover, the exemption of copper, uranium, gold, and silver from the proposed MRRT potentially enhances Olympic Dam’s appeal versus iron ore and coal projects.
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1.This month.
The Road to War brings a sharp focus to why it is not in Australia’s best interest to be dragged into a war with China which will almost inevitably go nuclear very quickly. The filmmaker has interviewed some of Australia’s senior foreign policy analysts who have vast experience behind them in analysing what really is going on here as the United States rattles its sabres with China. And sets us up to be its proxy, like the poor Ukranians have been fed into the Meatgrinder. So America can remain the Top Dog. The Road to War reveals how the United States through its spy base at Pine Gap and by stationing six nuclear capable B52 bombers in the Top End (without permission from the traditional owners) is making Australia a prime nuclear target if the current war of words suddenly melts down into full scale war.
The Road to War shows the implicit connection between Carbon emissions (the US military uses a whopping 70% of America’s annual petroleum to move its armies and vast War Machine around the globe to its 800+ military bases..but under a loophole wangled at Kyoto, the US military does not have to report its C02 annual emissions). The Road to War starts screening at selected cities and regional centres in March. See the trailer end for details.
Antinuclear 
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