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Sunday, 01 July 12
AUSTRALIAS CARBON TAX - SUNIL K KUMBHAT
 COALspot.com - Climate Change
Climate change and global warming have now become buzzwords the world over. The disastrous consequences for global climate change is one topic that has now taken very serious dimension but hardly been realised in a serious enough way by the nations across the world.
Climate change effects have noticed frequent catastrophes, such as severe drought, heavy rains cycles, cloudbursts, longer and more extreme heat waves, spread of tropical diseases such as SARS and bird flu, damage to vegetation and agricultural systems due to pests, and threats to coastlines and proper due to higher sea levels and strom surges, extreme weather events and prolonged droughts will continue to lead to increased injury, illness and death.
Continued warming temperatures will also increase the number of malaria and dengue fever cases and lead to an increase in other infectious diseases as a result of poor nutrition due to food production disruption.
It threatens to bring more famine and drought, worse pandemics, more natural disasters, more resource scarcity, and human displacement on a staggering scale," Asian and developing countries should take the lead in this regard by moving the UN to pass a resolution to put in place an effective and strong mechanism to urge the countries to curb the production of greenhouse gases and also help the developing ones to find technological solutions to help reduce the production of these gases in the process of industrial development and take steps to effectively control this potentially dangerous development.
Although issue of climate change and global warming are fairly high on the agenda of most governments, but in practice, across nations, there is a wide variation in policy response to the emerging threat. This is not surprising because different countries have different priorities depending on their state of economic progress. Governments, especially in major emerging economies, are forced to strike a balance between domestic compulsions - poverty alleviation, for instance - and policies that help combat climate change.
Obviously, it is a political call that governments take. Responsible and responsive policymaking will surely have to take into account threat perceptions of climate change; but that can hardly qualify to be any country's single point agenda. If any country accept sustainable growth and development as the way forward, it subsumes the climate change issues.
At the same time, no country can ignore the inherent contradiction in the expression "sustainable growth". Growth essentially involves exploiting natural resources for human benefit and countries have to strike a delicate balance between environmental sustainability and economic growth. It is easier said than done. As the climate issue impinges on everyone, wisdom demands that nations sink their petty differences in approach and strategy to stem the danger from spreading further and squeezing the survival prospects of one and all. Principally, the efforts boil down to reduction of greenhouse gas (GHG) emission, caused primarily by accelerated economic development through exploitation of fossil fuels rich in carbon dioxide.
Environmental changes: Australia
Most people now agree that Australia’s climate is changing. In Australia the number of record hot days has doubled over the last 50 years. In 2011 Australia experienced bush fires and some of the worst floods in country for centuries when Brisbane got devastated and other areas all throughout Queensland went under water. Scientists also now know that oceans have risen 20cm in the last 200 years. If they go another 20cm then this would wipe out island communities and cause flooding to some major centres. The carbon emissions, greenhouse gases and deforestation is contributing to these environmental changes.
Carbon Tax
Australia has introduced its highly controversial carbon tax, after years of bitter political wrangling. Carbon tax in Australia effective from 1st July 2012 will penalize (tax) big polluters for carbon emissions at a flat rate fee of $23 per tonne of emissions. After a 3-5 year period it is proposed that the pay per tonne system will change to a cap and trade system whereby emissions are capped at a certain level and big polluters will have to buy permits from lower carbon emitting businesses if they wish to increase their emissions. This is otherwise known as carbon credits trading. Carbon tax has taken various forms in different parts of the world based on unique economic circumstances and tax systems.
The top 500 emitters will be charged a flat rate fee of $23 per tonne of emissions by the government in the first year, beginning 1 July 2012.The $23 per tonne is to be indexed to inflation and will rise to $24.15 in 2013-10 and $25.40 per tonne in 2014-15. From the 1st July 2015 the price paid per tonne will be set by the market via a cap and trade system The main objective is to cut Australia’s carbon emissions by 5% by 2020. Major industries affected include electricity and energy producers, mining, business transport, waste and industrial processes.
A price on carbon will not apply to fuel for off-road and on-road light transport by agriculture, forestry and fisheries. Households and small business will also be exempt from a carbon price on fuel. Although a 6c reduction in the off-road diesel fuel rebate will cause general pain for junior miners and for rural and regional business.
Carbon Tax Revenue
Carbon Tax Revenue will be reinvested into clean energy technology and renewable energy projects. Offshoot development funds will also be set up to focus on biodiversity, low carbon agriculture, small business grants and indigenous communities. The government has promised to compensate 90% of households for any increase in energy bills via tax cuts or increases to family benefits.
Carbon tax is essentially an indirect regressive tax (tends to hurt lower income earners). Carbon tax is expected to raise some $15 billion in government revenue which assist with the ongoing Global Financial Crisis .. It is designed to change how manufacturers go about their business, that is to reduce their emissions so they don't pay tax and it is designed for us, the consumer to change how we consume non renewable energy such as electricity.
1.The Government of Australia is planning that $13-$15 billion dollars will be reinvested into developing green energy technology which is proposed to further reduce emissions. Businesses are encouraged therefore to invest in renewable energy such as solar as well as create a whole new industry of jobs.
2.The Australian Government has pledged to compensate Australian households with nearly half the revenue generated by the carbon tax. Those who earn more will get less. Further 9 out of 10 Australian households will be given cash bonuses to offset price increases and the pension will be increased.
3.As mentioned above the 500 biggest polluters will initially pay $23 per tonne of carbon emissions then after 3-5 years the market will set the price. Businesses are in the game of increasing revenue and decreasing costs. So carbon pricing is designed to get businesses to innovate to find a way to reduce their emissions. No doubt there will be some polluters who will pass on the cost of their extra tax to consumers. But with the majority of consumers now being more environmentally conscious products of the biggest polluters will be more competitive if they are cleaner and greener. There will also be tax incentives for farmers in the form of carbon credits that will offset tax payable. This depends on appropriate investment in capital to reduce emissions.
4. The Australian Government has set a target of reducing carbon emissions by 5% from 2000 to 2020.
5.Revenue will be used to protect Australia's fauna and flora for further protection of fragile and endangered ecosystems.
The government says the tax is needed to meet climate-change obligations of Australia – the highest emitter per-head in the developed world, but the opposition argues that it a “Toxic Tax” is expensive and unnecessary that will cost jobs and raise the cost of Living. Entire carbon tax is a scam and a monumental fraud which does nothing to help the environment. As per many leaders against implementation of Carbon Tax , the western companies make billions from seizing land and using it to grow trees in return for lucrative carbon credits which are then sold to companies under carbon tax schemes like the one passed in Australia.
The national and international carbon market is set to change dramatically over the next few years and Australia’s Carbon Tax is a significant part of this transition – organizations must adapt and prepare for a carbon constrained future.
Climate change is a tricky subject to discuss and it's effect on the climate much debated. But the carbon tax is very real, it is now here in Australia and it will affect all Australians. It is known fact that deforestation , carbon emissions , and greenhouse gases in contributing to Global warming and Climate Changes.
By : Sunil K Kumbhat , Jodhpur( Rajasthan) India.
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Friday, 02 December 22
INDONESIAN COAL PRICE REFERENCE PLUNGE TOWARD US$ 281.48 A TON AS DEMAND DROPS WORLDWIDE
COALspot.com: The cost of coal is falling so fast that it is beginning to put real money back in the pockets of end-users.
Indonesia ...
Wednesday, 30 November 22
INDONESIA’S BUMI RESOURCES TARGETS 2023 COAL OUTPUT OF 80 MLN TONNES - REUTERS
Indonesian coal miner PT Bumi Resources Tbk BUMI.JKis eyeing a 10% increase in output to 80 million tonnes next year amid expectations for more fav ...
Wednesday, 30 November 22
TANKERS: LONGER HAULS TO SUPPORT CONTINUED STRENGTH - BIMCO
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Wednesday, 30 November 22
MARKET INSIGHT - INTERMODAL
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Tuesday, 29 November 22
INDIA TO RECEIVE FIRST LNG CARGO FROM INDONESIA’S TANGGUH LNG - REUTERS
India will receive its first cargo from Indonesia’s Tangguh liquefied natural gas (LNG) plant at the Dahej terminal on Monday, according to a ...
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- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- The University of Queensland
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- GMR Energy Limited - India
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
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