Cutting Wealth, Not Emissions

Posted on Wed 12/16/2009 by

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By Andrew Bolt

Other than this, and the higher prices and power blackouts, it won’t hurt a bit, honest:

THE amended emissions trading scheme put forward by the Government threatens to wipe off about 3 per cent of the value of Australia’s top 200 companies, according to research to be released today…

An analysis of the revised plan by carbon risk firm RepuTex and Arbor Partners, consultants to institutional investors, shows that indirect factors such as electricity and supply chain costs, will make up 60 per cent of the total carbon liability of S&P/ASX 200 companies.

That would add $3.1 billion to the $2.1 billion in direct costs companies face through trading permits.

And then there are the fines the United Nations will impose on us – fines some countries already face under the Kyoto Protocol:

Because of breaches of its emissions target under the Kyoto Protocol, Canada owes about $1 billion

Andrew Bolt is a journalist and columnist writing for The Herald Sun in Melbourne Victoria Australia.

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