Comments on: Garnaut followed by frog plague and death of all firstborns! http://www.crikey.com.au/2008/07/04/garnaut-followed-by-frog-plague-and-death-of-all-firstborns/ now with extra source Tue, 24 Nov 2009 09:21:38 +1100 http://wordpress.org/?v=2.8.6 hourly 1 By: soil carbon http://www.crikey.com.au/2008/07/04/garnaut-followed-by-frog-plague-and-death-of-all-firstborns/#comment-22244 soil carbon Thu, 01 Jan 1970 10:00:00 +0000 #comment-22244 Regarding the constant claims raised that TEEII’s will move their operations offshore to the nett detriment of the Australian economy. Last night the claim was made in respect of the alumina refinery here in Queensland. This refinery is the recipient of massively subsidized electricity – the exact details of just how cheap are kept secret. For them to relocate they need to find another cheap supply of energy, in an economically, geologically and politically stable country. The choices for countries that meet all of these requirements were always a bit limited. Now with inflation, energy shortages, food shortages, and massive demand for energy from the whole planet – isn’t it pretty much the case that the Queensland alumina refinery is already in just about the best place it could find anyway?<br /><br />And a spokesperson for the energy generators invokes a year-end solvency test and auditor concerns to support a claim for compensation. “Directors would be obliged to look at the ongoing solvency and see a massive financial impairment caused by a loss of value of 80 or 90 per cent”. <br /><br />The international response to climate change was launched in 1992, at the Earth Summit in Rio de Janeiro, with the signing of the U.N. Framework Convention on Climate Change. <br /><br />It is reasonable to expect that at some time during the intervening 15 years when looking at this same ongoing solvency issue, these Directors should have considered making a provision in their accounts for this “sudden and unexpected” dimunition in value. Doing so would have been an appropriate exercise of their fiduciary duty.<br /><br />Failing to do so is due to either ignorance or arrogance. Neither of these deserve compensation.<br /><br /><br /> Regarding the constant claims raised that TEEII’s will move their operations offshore to the nett detriment of the Australian economy. Last night the claim was made in respect of the alumina refinery here in Queensland. This refinery is the recipient of massively subsidized electricity – the exact details of just how cheap are kept secret. For them to relocate they need to find another cheap supply of energy, in an economically, geologically and politically stable country. The choices for countries that meet all of these requirements were always a bit limited. Now with inflation, energy shortages, food shortages, and massive demand for energy from the whole planet – isn’t it pretty much the case that the Queensland alumina refinery is already in just about the best place it could find anyway?

And a spokesperson for the energy generators invokes a year-end solvency test and auditor concerns to support a claim for compensation. “Directors would be obliged to look at the ongoing solvency and see a massive financial impairment caused by a loss of value of 80 or 90 per cent”.

The international response to climate change was launched in 1992, at the Earth Summit in Rio de Janeiro, with the signing of the U.N. Framework Convention on Climate Change.

It is reasonable to expect that at some time during the intervening 15 years when looking at this same ongoing solvency issue, these Directors should have considered making a provision in their accounts for this “sudden and unexpected” dimunition in value. Doing so would have been an appropriate exercise of their fiduciary duty.

Failing to do so is due to either ignorance or arrogance. Neither of these deserve compensation.

]]> By: robert http://www.crikey.com.au/2008/07/04/garnaut-followed-by-frog-plague-and-death-of-all-firstborns/#comment-22245 robert Thu, 01 Jan 1970 10:00:00 +0000 #comment-22245 Transfield Services chairman Tony Shepherd warning of an "Enron-type collapse". So, if I'm reading this right, what Tony is saying is that the power generators are bunch of lying, cheating shysters like those chaps who ran Enron. Correct? Transfield Services chairman Tony Shepherd warning of an “Enron-type collapse”. So, if I’m reading this right, what Tony is saying is that the power generators are bunch of lying, cheating shysters like those chaps who ran Enron. Correct?

]]> By: JohnJames http://www.crikey.com.au/2008/07/04/garnaut-followed-by-frog-plague-and-death-of-all-firstborns/#comment-22246 JohnJames Thu, 01 Jan 1970 10:00:00 +0000 #comment-22246 "..obfuscation and dodgy science.." Well talk about the pot calling the kettle black( or should I say 'hot) This is amazing stufff, as the 'Warmists' combine fear mongering, impending doom, voodoo economics and even scripture to cajole the masses into accepting a massive drop in their living standards. <br />With the past decade showing a drop in global temperature and after record cold northern winters the Warmists are insisting that all is on track for Armaggedon.<br />What is really amazing is how business leaders, like scientists, who express scepticism/dissent are going to be " kept track of" by Crikey and the "Green police" ( Bernard's dog, Woof, is specially trained )<br />The economics is mind numbing. We are effectively going to dramatically reduce the value of assets that the NSW government ( and Opposition ) tell us they need to sell in order to raise capital to build more coal fired power stations otherwise, as Morris Iemma has said more than once, " the lights go out". But , hey, the 'Warmists' are expert candle makers.<br />And of course, India and China, building an average of 1-2 coal fired power stations/ week to drive their economies forward are going to watch, spell-bound, as we drive ours backwards and suddenly the 'light' of conversion will dawn and they'll say, collectively of course, we're going in the wrong direction! <br />Let's go the same way as those brilliant, prinicipled Aussies!<br />You got that 99!. Please, just lower the 'cone of silence' while a scream a little! ”..obfuscation and dodgy science..” Well talk about the pot calling the kettle black( or should I say ‘hot) This is amazing stufff, as the ‘Warmists’ combine fear mongering, impending doom, voodoo economics and even scripture to cajole the masses into accepting a massive drop in their living standards.
With the past decade showing a drop in global temperature and after record cold northern winters the Warmists are insisting that all is on track for Armaggedon.
What is really amazing is how business leaders, like scientists, who express scepticism/dissent are going to be ” kept track of” by Crikey and the “Green police” ( Bernard’s dog, Woof, is specially trained )
The economics is mind numbing. We are effectively going to dramatically reduce the value of assets that the NSW government ( and Opposition ) tell us they need to sell in order to raise capital to build more coal fired power stations otherwise, as Morris Iemma has said more than once, ” the lights go out”. But , hey, the ‘Warmists’ are expert candle makers.
And of course, India and China, building an average of 1-2 coal fired power stations/ week to drive their economies forward are going to watch, spell-bound, as we drive ours backwards and suddenly the ‘light’ of conversion will dawn and they’ll say, collectively of course, we’re going in the wrong direction!
Let’s go the same way as those brilliant, prinicipled Aussies!
You got that 99!. Please, just lower the ‘cone of silence’ while a scream a little!

]]> By: JamesK http://www.crikey.com.au/2008/07/04/garnaut-followed-by-frog-plague-and-death-of-all-firstborns/#comment-22247 JamesK Thu, 01 Jan 1970 10:00:00 +0000 #comment-22247 Interesting take on the climate change alarmists such as Keane by Bret Stephens in The Wall Street Journal: Global Warming as Mass Neurosis July 1, 2008; http://online.wsj.com/article/SB121486841811817591.html<br /><br />I hasten to add that I concur that anthropogenic global warming is probably real and should be responded to globally now in a rational and inclusive manner, however the 'real climate threat' is the one of fear and intimidation rained down on us by so many commentators like Keane, Hamilton and Flannery. The irony is that such grandstanding will probably hinder the environmental cause not help.<br /><br />The biblical 'apocalypse' used by Keane and so many others is addressed by Stephens in the reference cited. <br /><br /> Interesting take on the climate change alarmists such as Keane by Bret Stephens in The Wall Street Journal: Global Warming as Mass Neurosis July 1, 2008; http://online.wsj.com/article/SB121486841811817591.html

I hasten to add that I concur that anthropogenic global warming is probably real and should be responded to globally now in a rational and inclusive manner, however the ‘real climate threat’ is the one of fear and intimidation rained down on us by so many commentators like Keane, Hamilton and Flannery. The irony is that such grandstanding will probably hinder the environmental cause not help.

The biblical ‘apocalypse’ used by Keane and so many others is addressed by Stephens in the reference cited.

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