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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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Saturday, 21 July 12
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market was soft this week as all the segments were down.
The BDI was down by 6.58 pct closing at 1,037 points and the ...
Saturday, 21 July 12
INDONESIAN COMPANIES ABM INVESTAMA AND AVRA ASIA WORK OUT LONG-TERM CONTRACT - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading English news papaer in Indonesia reported that, ABM Investama, a company with diversified interests in coal mi ...
Friday, 20 July 12
INDONESIA-INDIA SUPRAS BEING FIXED AT $ 10K
Handy
After a stable last week, the Handysize market has experienced softening rates in the Atlantic. Ships are ballasting from India into the Atla ...
Friday, 20 July 12
HANDYSIZES PROVE RATHER ATTRACTIVE AMONG OTHER SHIPS, IN TERMS OF FUTURE RETURNS ON INVESTMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Handysize segment of the dry bulk market appears to offer the best incentive among other ship types, for a ship owners to invest in, says Interm ...
Wednesday, 18 July 12
TAIWAN POWER COMPANY TO IMPORT 0.588 MILLION TONS OF LOW ASH AND EXTRA LOW SULFUR SUB-BITUMINOUS COAL
COALspot.com - Taiwan Power Company intends to procure 588,000 MT tons of extra low sulfur sub-bituminous coal for Taipower thermal power plant thro ...
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- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- PTC India Limited - India
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- White Energy Company Limited
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- The University of Queensland
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
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