Seven of our Biggest Whingers
Here they are folks...
BLUESCOPE STEEL
“[A carbon price] is basically the end of steel manufacturing in Australia.” Paul O’Malley, CEO
WOODSIDE PETROLEUM
THE country's biggest independent oil company, Woodside, has warned that putting a price on carbon before overseas rivals could hurt Australia's chances of attracting foreign investment for the booming resources sector.
The chief executive of Woodside, Don Voelte, said yesterday investors were perplexed by Australia's move to impose a carbon price after failing to reach a global agreement at the Copenhagen climate conference in 2009.
A combination of a carbon price, other tax changes and soaring wages was threatening to delay the "good news story" of resources investment and harm fragile parts of the economy. Read more
RIO TINTO
“Businesses unable to pass a carbon price through to customers… would simply have to absorb it. This may be manageable when market conditions are favourable… but when the cycle turns down, it will inevitably be disastrous.” David Peever, Managing Director
INTERNATIONAL POWER
“[Without additional compensation the company will] walk away, simply exit the Australian market, hand Hazelwood to an administrator or try to recover some residual value from its asset by selling on to the spot market… [the result could leaad to] extreme market volatility [and possibly even the collapse of the east coast electricity market.]” Tony Concannon, Executive Director
TRU ENERGY
“A knee-jerk reaction to introduce a carbon tax is the wrong way to go and, quite frankly, from an investment perspective, a lot of investment will simply go elsewhere.” Richard McIndoe, Managing Director
ALCOA
“The price for aluminium is set in the London metal exchange. We have no ability to pass through any costs. Our main competitors are in places like the middle-east, China, they’re in Canada – none of those have any carbon legislation so [we’re] putting Australian industries and Australian jobs at a disadvantage, where in many cases we’re more efficient in the ability to convert alumina into aluminium. It means investments and jobs will go overseas but there isn’t really any environmental benefit…” Alan Cransberg, Managing Director
MACARTHUR COAL
“Why would we be committing economic suicide in Australia when it is not going to help the rest of the world?” Keith DeLacey, Chairman
Go on then. Help us send them a message.
