Palmer and Gore have saved Australia’s important renewable energy projects
Australia Institute director says Gore-Palmer ploy reset climate debate http://www.theguardian.com/environment/2014/jul/01/australia-institute-director-says-gore-palmer-ploy-reset-climate-debateFormer Greens staffer Ben Oquist, one of those who brought the two men together, said the move was a step forward The Australia Institute has defended its role in negotiating the Clive Palmer-Al Gore climate announcement because the concessions made by the Palmer United party had “avoided a big step backwards” and reset the climate debate in Australia.
In an email to supporters, the thinktank’s strategic director and former Greens staffer, Ben Oquist, one of a number of people involved in bringing Gore and Palmer together, defended the move as a step forward, despite PUP’s unchanged resolve to repeal Australia’s carbon pricing scheme after the Senate resumes next week.
PUP will now use its balance of power votes in the Senate to retain the Clean Energy Finance Corporation, the Climate Change Authority and the renewable energy target.
“Six months ago it seemed certain that the Abbott government would succeed in its plan to scrap the RET, the CEFC and the CCA,” Oquist wrote.
“[The institute’s] research has long shown that the RET has been the key mechanism driving investment in clean energy production … It has had more impact than the carbon price at zero cost to the government. Billions of dollars in investment was being put at risk by the Abbott government’s determination to unwind the scheme.
“The Palmer-Gore announcement has reset climate policy and politics. Keeping the CCA, the RET and the CEFC is much more than most expected from PUP. We have avoided a big step backwards … [it] also reframed the debate about carbon pricing – it’s hard to suggest carbon pricing is some form of left-wing, economy-wrecking conspiracy when a billionaire mining magnate supports it.”
Oquist says it “would have been preferable for PUP to have delayed a vote on the carbon price repeal by sending it to a committee. It would have been preferable for them to amend the existing carbon price to move straight to the floating price [due to start next July]. The fact is that the PUP senators and Clive Palmer think that their voters expect them to vote it down, and that’s what they intend to do.”
Government backbenchers have been pushing for the RET to be watered down (it currently requires 41,000 gigawatt hours of power to be sourced from renewables by 2020) on the grounds that it pushes up power prices. Before the PUP announcement senior government sources were suggesting the scheme could be closed to new entrants after the government’s own review of the scheme, chaired by the businessman and self-professed climate sceptic Dick Warburton. More recently backbenchers have been pushing for a less drastic scaling back.
ACIL Allen modelling done for the government’s review shows the current target will increase the average household bill by an average of $54 a year between now and 2020, but will reduce bills by a similar annual amount over the following decade compared with what they would be if the RET were repealed.
The modelling used assumptions highly unfavourable to renewable energy, including that coal and gas prices would remain almost unchanged until 2040.
Separate modelling for the Clean Energy Council by Roam Consulting – with different assumptions about gas prices – found that bills would be $50 higher by 2020 if the RET were repealed, compared with it being retained.
And polling has revealed that Australians overwhelmingly want the renewable energy target to be retained or even increased.
The polling, done for the Climate Institute, shows 72% of Australians want to keep or expand the RET.
The Coalition went to the election promising to keep the RET, which underpins investment in energy sources such as wind and solar, but said it would review the fact that the policy was exceeding its original goal of delivering 20% renewable energy by 2020 because of falling electricity demand.
Warburton, a veteran industrialist and the chairman of the Westfield Retail Trust, described his views on climate science in a 2011 interview on ABC.
“Well, I am a sceptic,” he said. “I’ve never moved away from that. I’ve always believed sceptical. But a sceptic is a different person than a denier. I say the science is not settled. I’m not saying it’s wrong. I’ve never said it’s wrong, but I don’t believe it’s settled.”
Solar storage project to be funded by Australian Renewable Energy Agency
Australian Renewable Energy Agency to fund solar storage solution http://www.abc.net.au/news/2014-07-01/arena-funds-solar-storage-technology/5552394 1 Jul 2014,
AUDIO: ARENA funds breakthrough solar storage technology (ABC Rural)
“Sunverge Energy plans to work with energy retailers to offer solar packages that include its innovative storage solutions. “This approach has the potential for fast, widespread adoption of the technology, increasing the supply of renewable energy in Australia.”
The investment comes at an interesting time for ARENA which was put in place by the previous Labor Government to promote and implement renewable energy solutions but faces a cut in funds under the Coalition.
Politics aside, ARENA is still endeavouring to meet its charter with $1 billion worth of committed funding for projects to be rolled out over the coming years.
“Now the other the other thing I should emphasis is we have over a billion dollars of existing commitments and the Federal Government is very much behind keeping those.
“Out of that billion odd dollar less than a third of it has actually been spent. “So there is an awful lot to do and an awful lot of benefits to yet come out of the ARENA project.”
Climate change is above party politics. Labor should support Direct Action policy
Labor should compromise on Direct Action: Australia Institute chief The Conversation, 1 July 14, Michelle Grattan, Professorial Fellow at University of Canberra The chief executive of the left-leaning Australia Institute think tank, Richard Denniss, has urged Labor to do a deal to implement elements of the government’s controversial direct action climate program.
With money already appropriated in the budget for the proposed emissions reduction fund, Denniss said it should be used “to buy as much abatement as we can”.
The government has legislation before Parliament to provide for the Clean Energy Regulator to conduct auctions and enter into contracts to pay companies to reduce their emissions. Some $2.55 billion worth of contracts would be funded, although only $1.1 billion would be spent in the forward estimates period.
When the carbon tax is repealed – now considered certain after last week’s announcement by Clive Palmer that PUP senators will vote for ending the tax – Australia would have no primary scheme for combating climate change if direct action is not implemented.
Labor voted against the direct action legislation in the House of Representatives, but shadow treasurer Chris Bowen appeared to leave open its final position at the weekend.
Denniss told The Conversation: “The government is offering to spend a couple of billion on abating emissions. As long as we get good value for it, and we are confident the emissions are abated and administrative costs are not excessively high, I think that would be a good outcome.”
But he said the money should be spent on energy efficiency projects and carbon farming, rather than buying emissions from big polluters, as the administrative costs would be much lower and the measurement of emission reduction much easier…….http://theconversation.com/labor-should-compromise-on-direct-action-australia-institute-chief-28689
The Palmer climate action conversion IS a game-changer.
The Palmer conversion is a game-changer.
By 2016, the named trading partners who already have trading schemes in various forms will have consolidated their schemes, renewable energy would have dethroned King Coal and we’ll have Labor, the Greens and PUP all campaigning for a return of the ETS.
Palmer and Gore: What are they good for? Independent Australia Sandi Keane 29 June 2014,When climate realists and coal billionaires share a stage to commit to climate change action, the end is nigh for the climate dinosaurs, says deputy editor Sandi Keane.
THE MEDIA HAS STRUGGLED since Wednesday to make sense of the Palmer/Gore shock presser with guess-which-media monopoly trumpeting it as a win for Abbott and many of the more independent-hue cynically declaring it a damp squib and Crikey even going so far as to call it a win for climate denialists.…….
Firstly, it should be noted, Al Gore – former U.S. vice-president and rightful victor in the 2000 U.S. presidential election – is no-one’s fool…….
If anyone thinks there’s been no shift in the body politic in Canberra to act on global warming thanks to Gore’s intervention with Palmer, then more fool them.
Granted, a tectonic shift it wasn’t. Gore deplored Palmer’s repealing of the carbon tax. But whenPalmer United Party (PUP) senators met last weekend, there was reluctance to break an election promise.
several high profile climate campaigners, like former Australian Conservation Foundation boss,Don Henry, and Christine Milne’s former chief of staff, Ben Oquist , who were lobbying Clive Palmer behind the scenes. Impromptu as it looked, last Wednesday’s shock announcement by the Palmer United Party had been carefully negotiated over a number of weeks.
At the risk of re-stating the facts, let’s look at PUP’s scoreboard before and after Gore’s intervention.
Pre-Gore’s visit:
Renewable Energy Target x
Clean Energy Finance Corporation x
Climate Change Authority x
Australian Renewable Energy Agency x
AGW believer x
ETS x
Carbon tax x
Post-Gore’s visit:
RET ✔
CEFC ✔
CCA ✔
ARENA ?
AGW believer ✔
ETS ✔
CT x
What benefit is Palmer United Party’s support for an ETS?…….
Activist Natalie Lowrey freed, following Malaysian arrest for ant-Lynas protest
Aust activist freed from Malaysia cell http://www.heraldsun.com.au/news/breaking-news/aust-activist-freed-from-malaysia-cell/story-fni0xqll-1226970174011l AAP JUNE 28, 2014 SYDNEY woman Natalie Lowrey has been released after being detained for six days in Malaysia, where she was protesting against an Australian company’s metals plant.
MS Lowrey was arrested on Sunday while demonstrating at Lynas’ controversial plant for rare earths, which are used in tech products like smartphones.
Police were weighing a charge of unlawful assembly, which carries a maximum two-year jail term.
But on Friday night, as the New Zealander was preparing to spend a weekend behind bars with no visitors, she was suddenly released on bail.”It was a big surprise, I didn’t believe it until I had changed out of my purple jail uniform,” she told AAP.
“I felt very strong the whole week because I knew there were vigils all over Australia and Malaysia for me. I have a lot of people to thank.”
Lowrey was released along with 15 Malaysians who had also been arrested.
The lack of transparency around Ms Lowrey’s detention concerned lawyers and NGOs, who collected more than 15,000 signatures on a petition to free her.
She has her passport back and plans to leave Malaysia next week.
Liberals attack environmental charities, (but right wing Institute of Public Affairs is unscathed)
Activist charities targeted http://www.examiner.com.au/story/2382849/activist-charities-targeted/?cs=95 By MATT MALONEY June 28, 2014,
The Liberal Party’s Federal Council on Friday night unanimously endorsed a policy motion put up by Bass Liberal MHR Andrew Nikolic to remove consumer and competition law exemptions for eco-charities. He argued that environmental groups should be treated the same as corporations under the act, and that tax deductibility for donations and reduced fees for court action should be removed.
He said there were 583 approved environmental groups under the act, and 13 of these were allowed to receive tax-deductible donations. “I am seeking to remove exemptions so environment groups are not above the law,” Mr Nikolic said. “Part of taking this forward now requires ministers in the state and federal government to act together to remove the exemption.”
Mr Nikolic’s motion follows moves by the state government to repeal the Tasmanian forest peace deal and clamp down on forest protesters through tough new laws involving hefty fines and three-month mandatory prison sentences.
Wilderness Society spokesman Vica Bayley said the latest move would not only hit community groups but the industry groups that the government had pledged to protect.“The Liberals have torn down the only collaborative and constructive thing going and replaced it with draconian measures,” Mr Bayley said.
“It’s a backward step and demonstrates that they believe that their policies will fail and the state will descend back into conflict.”
He said amendments to consumer and competition law would increase the level of controversy and contention in forestry in Tasmania as the government would be seen as one that wanted to block dissenting voices.
Victorian town Yackandandah going for Totally Renewable energy
Energy builds for Yackandandah renewables target http://www.abc.net.au/local/photos/2014/06/27/4034789.htm By Nick Fogarty
Members of TRY heard about Wildspoldsried – which produces three-times its total energy needs from renewables – at a community energy congress in Canberra last week. TRY spokesperson, Matthew Grogan, said their hope is that Yackandandah will be producing 100 percent of its own energy needs from renewables by the year 2022.
“We’ve got incredible fossil fuel resources … it’s tried and true technology and there’s a lot of it there,” Mr Grogan said. “But we know the damage that it causes and it’s at crisis point, the damage that that’s causing. “In addition to that brown coal we’ve also got one of the world’s best profiles of solar energy.”
TRY is encouraged by the fact that north-east Victoria receives more solar radiation than Germany, the world’s largest producer of solar energy. The switch to renewables has also brought financial benefits for Wildspoldsried, Mr Grogan said, from “energy tourism” and the sale of excess power back into the grid.
Wildspoldsried made the switch with stunning speed, having aimed for a target of 100 percent renewables within 10 years, but achieved the goal in five years. It’s early days for the Yackandandah group, but a community-owned petrol station and an already-high uptake of solar among residents shows a willingness to look for alternatives.
Yackandandah is not alone in its vision, with around 50 other Australian communities attending last week’s congress.
Mr Grogan said TRY had already approached local supermarkets (the area’s largest energy users) and funding bodies to sell their vision. “We know the technology is out there, we know solar panels are coming down and batteries are coming down as well in price,” Mr Grogan said. “It’s a really exciting phase to be honest, we’re just approaching it with a lot of creativity and taking any opportunities as they arise.”
Costly problems, legal battles, face owners of Four Mile uranium mine
Four Mile mine opens amid tensions between owners, World Nuclear News, 26 June 2014 The Four Mile uranium mine in South Australia was officially opened on 25 June, but its minority owner wants to sell its stake and is preparing a legal battle against the project operator…….EdwardSterck, a senior mining analyst at London-based BMO Capital Markets, said he did not think there was “any huge significance” in the opening of Four Mile. “It appears that they are using the existing Beverley plant which suggests that production from Four Mile is replacing production at Beverley,” Sterck told World Nuclear News.
Quasar Director Dave Roberts said there is remaining ore at the Beverley mine that “can and will be” extracted at a future point in time. “But today, we are dedicating the full processing capacity of Beverley to the production of Four Mile uranium,” Roberts said during TV coverage of the opening ceremony.
ACE’s parent company Melborne-based Alliance Resources announced last week it had appointed Deloitte Corporate Finance to lead the sale of its 25% stake in the project. Alliance said the sale would “free up funds” for the company to develop its exploration portfolio.
In the meantime, the court case is looming for ACE’s 2010 filing against Quasar Resources – on the basis of “misleading and deceptive conduct” – having been set for 30 June.
ACE has said it is “seeking restitution for the 75% interest in the exploration licence for Four Mile, citing, among other issues, Quasar’s failure to disclose information relating to the prospectivity of part of the tenement.” ACE also contends that Quasar, “with the assistance or participation of” its affiliate Heathgate Resources, breached its obligations under the joint venture agreement……..
ACE said in January it had elected to vote against Quasar’s revised start-up plan for the Four Mile project, which would see uranium capture at Heathgate’s Pannikan plant, and precipitation, drying and packing at Heathgate’s Beverley processing plant. ACE said the parties should instead construct a stand-alone plant at Four Mile in order to reduce operating costs. Heathgate Resources, which like Quasar is based in Adelaide, is the owner and operator of the Beverley uranium mine in the Northern Flinders Ranges.
First discovered in 2005, the Four Mile uranium deposit is 550 km north east of Adelaide in the Frome Basin. State and federal regulators approved the mining lease for the project in April 2012 and more than AUD 120 million ($113 million) has been invested so far, the government said. The mine’s owners expect to produce up to 1.6 million pounds from the mine this year, it said. http://www.world-nuclear-news.org/ENF-South-Australias-Four-Mile-uranium-mine-opens-amid-tensions-between-its-owners-26061401.html
Abbott now looking sillier on climate policy
Abbott completely isolated by Palmer’s “inconvenient senate” Clive Palmer’s emissions trading announcement effectively leaves Abbott completely isolated on climate policy , The Guardian, Alex White, 25 June 14 Clive Palmer‘s shock announcement on Wednesday night next to former vice president Al Gore has been very cautiously welcomed by Australia’s environment movement.
Palmer’s announcement effectively leaves Abbott completely isolated on climate policy, both domestically, and as Al Gore’s presence demonstrates, internationally as well. It is remarkable that one of Australia’s largest coal barons has firmly declared his support for renewables, taking action on global warming, and introducing anemissions trading scheme.
Senior leaders of some of the largest environment groups told me that they welcome Palmer’s position on the renewable energy target, the Clean Energy Finance Corporation and the Climate Change Authority, while approaching the details with caution and a large grain of salt. It was labelled as “definitely surprising”, “very smart politically”, “surprising” and “courageous”.
There are no details behind Palmer’s announcement, and it is unclear what approach he will take with his decision to support the abolition of the carbon “tax” and its replacement with an emissions trading scheme. Palmer also stated that he would not support prime minister Abbott’s “direct action” policy, criticising it as a waste of money.
Kelly O’Shanassy, the new CEO of the Australian Conservation Foundation, who is organising the Climate Reality project that Gore is in Australia for, said “keeping the ‘clean three’ of the RET, the CEFC, and the CCA is great news for all Australians. It’s great to see that Clive Palmer has the courage to listen to the voices of Australians when they say they support clean energy and they support cutting pollution.”
Several recent polls showed that a large majority of 72 percent of Australians support keeping or expanding the renewable energy target. Similarly, the polls show that Australians support putting a price on carbon, and just 22 percent support the discredited “direct action” policy.
The Clean Energy Council was effusive in its congratulations. Deputy Chief Executive Kane Thornton described the announcement as “a Titanic boost for the clean energy industry”. Increasing the proportion of Australia’s energy from renewable sources would mean lower costs for consumers and potentially thousands of extra jobs. Kane said in a statement, “what we need is policy stability to unlock these benefits, and the best outcome for the industry is if the policy is left alone to continue working.”
A senior environment campaigner noted to me that “we are approaching Palmer’s announcement with caution, especially on the RET. This is not the first time the Palmer United Party has made an announcement about renewables, only to see it reversed less than 24 hours later.”
What is clear is that Tony Abbott‘s offensive against renewable energy and the Clean Energy Finance Corporation are effectively dead……..
It is clear that Palmer (and Gore) has completely rewritten climate politics in Australia. Why he has done this is not clear, and there are elements of incomprehensibility in what has said.
However, as a political tactic, it could potentially be a master stroke, and consigns Abbott’s almost non-existent climate policy to the dust bin. As Greenpeace’s Pearson quipped, “tonight Al Gore has delivered Tony Abbott an inconvenient senate.” http://www.theguardian.com/environment/southern-crossroads/2014/jun/25/clive-palmer-al-gore-climate-change-renewable-energy-carbon-price
Clive Palmer’s position will prevent Abbott from destroying renewable energy industries
Ross Garnaut praises Clive Palmer’s decision to block abolition of Renewable Energy Target, ABC News By political correspondent Emma Griffiths and Kerry Brewster 27 Jun 2014, The man who helped design Australia’s current carbon pricing scheme has praised Clive Palmer over his decision to block the abolition of the Renewable Energy Target.
Economist and carbon pricing expert Professor Ross Garnaut says the Palmer United Party’s position to vote to retain the RET and other key climate change bodies will have “important” and positive effects. “We’re in a better position than we were before this news,” he told the ABC’s 7.30 program on Thursday. “We’re in a better position than when we were facing abolition of carbon pricing, major tampering with the Renewable Energy Target, abolition of the Climate Change Authority, abolition of the Clean Energy Finance Corporation. “It may not be the ideal way of doing things, but Mr Palmer’s support for keeping existing arrangements will have important effects.”
On Wednesday, Mr Palmer revealed his party would vote with the Coalition in the Senate to repeal the carbon pricing scheme if lower power prices were locked in, a condition the Government says it is “happy” to enshrine in law.
However PUP will vote to block the Government’s bid to abolish the Clean Energy Finance Corporation, the Renewable Energy Target and the Climate Change Authority. Continue reading
Fact checking shows Tony Abbott overstates savings from axing carbon tax
Fact check: Tony Abbott overstating household savings from axing the carbon tax ABC News, 27 Jun 2014 Legislation to repeal the carbon tax is headed for the Senate, where crossbench Senators have indicated they will give the support needed for it to pass. The Government claims households will be significantly better off.
At a press conference on June 23, Prime Minister Tony Abbott said: “Every household right around Australia will benefit to the tune of $550 a year. So this is a $550 a year windfall to every household in Australia…”
ABC Fact Check looked at this issue in 2013. Mr Abbott made a similar comment then, but at the same press conference Environment Minister Greg Hunt was more precise about the timing. That fact check found that Mr Abbott was overstating the case, but Mr Hunt reasonably said the legislation would mean “a saving of $550 on average next financial year [2014-15], as opposed to the current situation”.
As Mr Abbott regularly repeats his claim and Senate scrutiny is imminent, ABC Fact Check investigates again………..
The verdict
Based on Treasury modelling, households will be better off by around $550 in 2014-15 if the current legislation is scrapped. However the following year, when the fixed price would move to a floating price, the estimated impact on households drops to $280.
Mr Abbott’s claim is overstated. http://www.abc.net.au/news/2014-06-27/tony-abbott-carbon-tax-savings-overstated-fact-check/5554748
Few jobs, and no money, in Australia’s newest uranium mine
Australia’s newest uranium mine will lose money, won’t create any jobs Mining.com Cecilia Jamasmie | June 25, 2014 After five years of delays, Australia’s Four Mile uranium mine has began operations, with owner Quasar admitting it will lose money on every pound of uranium oxide it extracts from it and won’t create any jobs. However the company is confident the A$120 million investment, a joint venture project between Melbourne-based Alliance Resources and Quasar, will pay off in time.
The operation, Australia’s fifth and South Australia’s fourth uranium mine, began production in April to feed the processing plant at the site of the neighbouring and now closed Beverley uranium mine, owned by Quasar’s parent company, Heathgate Resources.
The 140 people who used to work at Beverly have moved into the development of Four Mile.
The firm will have to wait to see the first rewards. Uranium prices have crashed since the Fukushima incident in 2011, losing a further 30% in the last year to hit new record lows a few weeks ago. Although there’s no spot price for the metal, UX Consulting’s most recent indicator, published June 16, came to $28.5 a pound, down 31% over the last 14 months…….http://www.mining.com/australias-newest-uranium-mine-will-lose-money-wont-create-any-jobs-89457
Powerful push for nuclear power in South Australia
Heavy hitters push nuclear power in SA Jun 25
The New Daily GEORGE LEKAKIS A group of high-powered businessmen is working to bring nuclear power to South Australia. But with the PM saying he wants to make the nation an “energy superpower”, how far do their aspirations spread?
A group of high-powered businessmen and scientists have formed a new company aimed at establishing nuclear power plants in South Australia.
The company, known as South Australian Nuclear Power Systems Pty Ltd, is chaired by merchant banker and former News International director, Bruce Hundertmark.
The company is developing a business case for getting the Federal and South Australian governments to amend laws, including the Commonwealth Biodiversity Act, which prohibit nuclear power generation in Australia. According to documents filed with the Australian Securities and Investments Commission, the business was established in December last year – three months before the South Australian election which the Liberal Party had been expected to win.
It appears that the company’s ambitions were dealt a blow by the poll result, but recent announcements by Prime Minister Tony Abbott may have renewed hopes of government support for its strategic plans.
The federal government allocated $2.5 billion in the May budget to fund clean energy initiatives, including “clean power stations”.
At the launch of a new consulate in Houston, Texas on June 13, Mr Abbott stated that the Australian government “did not believe in ostracising any particular fuel”.
Powerful group
Other directors of the business include former ALP Federal MP turned academic, Bob Catley, and Ian Kowalick, a council member of the University of Adelaide and the former head of the Department of Premier and Cabinet during the reign of John Olsen’s Liberal Government in the late 1990s.
The board of South Australian Nuclear Power Systems also boasts two leading scientists from the University of Adelaide who have figured prominently in climate change debates – Professor Stephen Lincoln and Professor Tom Wigley………
“We’re hoping an opportunity will arise for capital investment in the nuclear industry for the purpose of creating new businesses and jobs and a future for battling South Australia,” Mr Hundertmark told The New Daily.
“The funding of the things that need to be done is not a real problem – the problem is to get the legislative changes needed.”……..
It is understood that the company has held preliminary talks with international nuclear design and generation companies, including Mitsubishi.
In February, Richard M. Cherry, a prominent American businessman active in the US nuclear industry was appointed to the board.
Mr Cherry is based in Oklahoma where he has held senior consulting and executive roles in the uranium and nuclear generation sectors since the 1970s.
He is a former executive of General Atomics, a US company that has invested in South Australia’s newest uranium mine, the Four Mile Project in the Flinders Ranges.
SA Premier Jay Weatherill on Wednesday officially opened the first stage of the Four Mile mine.
During his recent visit to the United States, Mr Abbott revived the Howard Government’s energy policy agenda which included a push to loosen the national ban on nuclear power generation.
Former Prime Minister John Howard fused his personal support for nuclear power into the coalition’s platform at the 2007 federal election, arguing that obstacles to Australia becoming an “energy superpower” should be removed.
Abbott echoed Howard’s rhetoric at the launch of the Houston consulate that was established to develop Australia’s links to global energy markets…….In the lead up to the coalition’s softening policy stance on nuclear power generation at the 2007 election, it was revealed that government ministers had been in talks with several leading nuclear power companies including Westinghouse and Mitsubishi.
Mr Hundertmark was a key figure in the development of News Corporation’s pay television businesses in the 1990s and was later appointed to the boards of Sky Television and News International.
He is a qualified chemical engineer and worked in the British nuclear power sector before entering the media industry.
In recent years he has been an active venture capitalist in the biotechnology sector through private and publicly-listed vehicles such as Biotron Ltd………
Funding a nuclear power industry in South Australia would require investment of up to $20 billion.
Most of that would likely flow from international investors and bank loans.
The big four Australian banks – NAB, ANZ, Westpac and Commonwealth – have tended to reduce lendng to controversial power generation projects in the last decade because of the reputational and business risks they carry.
In 2007 the National Australia Bank stated that it had a global policy of not lending to the nuclear power industry. http://thenewdaily.com.au/news/2014/06/25/heavy-hitters-push-nuclear-power-in-south-australia/
Sorry tale of woe about Australia’s uneconomic uranium mines
Price fallout hits uranium mines THE AUSTRALIANJUNE 26, 2014 Sarah Martin Political Reporter Adelaide
The bleak outlook comes as the Four Mile uranium mine in South Australia’s northern Flinders Ranges was yesterday opened after five years of delays.
Four Mile is a joint venture project between Melbourne-based Alliance Resources and Quasar — a subsidiary of Heathgate Resources that is owned by US defence and nuclear physics company General Atomics.
The mine, which becomes Australia’s fifth and South Australia’s fourth uranium mine, began production in April to feed the processing plant at the site of the neighbouring Beverley uranium mine, also owned by Heathgate.
But the company said yesterday that the Beverley mine was no longer operational, and had been mothballed in January because of low uranium prices.
This comes after Canadian company Uranium One announced in November that it would cease production at the Honeymoon uranium mine, also in outback South Australia. Since the Fukushima incident in 2011, uranium prices have tumbled from a high of $US70 a pound to $US28.50.
Quasar director Dave Roberts said Four Mile was also “not economic” because of weak uranium prices. “We have got prices of $US28 a pound and I would expect … costs of production may be higher than that,” Mr Roberts said yesterday…….. http://www.theaustralian.com.au/business/price-fallout-hits-uranium-mines/story-e6frg8zx-1226966903070?nk=38b4e03626cff750bb726e65c1a3e9f4
VIDEO: Clive Palmer needs to explain his policy on Emissions Trading
VIDEO Greens leader says Clive Palmer ‘having it both ways’ on ETS Australian Broadcasting Corporation 7.30 Report
Broadcast: 25/06/2014
Reporter: Sarah Ferguson
Greens leader Christine Milne welcomes Clive Palmer’s opposition to abolishing the renewable energy target and the climate change authority but thinks he may be having it ‘both ways’ on his emissions trading suggestions.
Transcript
SARAH FERGUSON, PRESENTER: No Government minister, unfortunately, was available for interview tonight. Greens leader Christine Milne, however, is in our Canberra studio. …..SARAH FERGUSON: Now, a few weeks ago I think, Clive Palmer was still questioning the science of climate change; now the green miner is putting himself at the vanguard of climate change policy. Can you make any sense of this?
CHRISTINE MILNE: Well, no, Clive changes his mind from day to day, but I do welcome the fact that he has now said that he will support the Renewable Energy Target, the Clean Energy Finance Corporation, the Climate Change Authority and I hope he also means the Renewable Energy Agency. So I really welcome the fact that they’re now going to support the retention of those institutions set up by the Greens and Labor under the last government. So that’s good. But as to his vague remarks in relation to emissions trading, it certainly looks as if he’s trying to have it both ways……
SARAH FERGUSON: Yes, but not with our major trading partners, not with the US, not with China, not with Japan and not with South Korea, so it is something different.
CHRISTINE MILNE: Well, that’s the problem with Mr Palmer: I’m not sure how much he understands or whether this is a cynical ploy to make it look as if he wants emissions trading whilst actually abolishing the (audio problems) … or whether his amendments would apply to the existing scheme and that’s where he needs to come out and clarify his position. …….
1 This month.
20 September –National Day of Action in Melbourne on the International Day of Peace
Help Aunty Sue Protect Her Land and Sacred Sites From Destructive Rocket Testing.
.
Australians deserve the truth
about
AUKUS – https://aukuspublicinquiry.com/
PETITION – To: Prime Minister Anthony Albanese and the Australian Labor Government
of the week – Australians for War Powers Reform (AWPR)
To see nuclear-related stories in greater depth and intensity
Antinuclear 