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	<title>Comments on: Sucking the RENT out of RET</title>
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		<title>By: Evan Beaver</title>
		<link>http://www.crikey.com.au/2009/08/20/sucking-the-rent-out-of-ret/#comment-35037</link>
		<dc:creator>Evan Beaver</dc:creator>
		<pubDate>Fri, 21 Aug 2009 00:45:46 +0000</pubDate>
		<guid isPermaLink="false">http://www.crikey.com.au/2009/08/20/sucking-the-rent-out-of-ret/#comment-35037</guid>
		<description>Not quite right Greg. It does count as a renewable; ie it generates RECs. The old GGAS/NGACS scheme (in NSW, there were parallels in other states) had a mechanism to capture methane destruction, but I don&#039;t think there&#039;s one in the CPRS. 

I think it&#039;s an extremely weak move. Not including it would have meant the coal miners were liable for their fugitive emissions and would have already had an incentive to clean up their act. It should be a business as usual decision! Giving them renewable credits for burning fossil fuels is a dreadful distortion of the market.</description>
		<content:encoded><![CDATA[<p>Not quite right Greg. It does count as a renewable; ie it generates RECs. The old GGAS/NGACS scheme (in NSW, there were parallels in other states) had a mechanism to capture methane destruction, but I don&#8217;t think there&#8217;s one in the CPRS. </p>
<p>I think it&#8217;s an extremely weak move. Not including it would have meant the coal miners were liable for their fugitive emissions and would have already had an incentive to clean up their act. It should be a business as usual decision! Giving them renewable credits for burning fossil fuels is a dreadful distortion of the market.</p>
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		<title>By: Greg Willis</title>
		<link>http://www.crikey.com.au/2009/08/20/sucking-the-rent-out-of-ret/#comment-35031</link>
		<dc:creator>Greg Willis</dc:creator>
		<pubDate>Thu, 20 Aug 2009 21:59:00 +0000</pubDate>
		<guid isPermaLink="false">http://www.crikey.com.au/2009/08/20/sucking-the-rent-out-of-ret/#comment-35031</guid>
		<description>I am no Labor supporter, but I can see why most of these exemptions were granted given the large export/import market distortions which would otherwise occur.

RE: coal seam gas. My understanding is that the legislation actually covers fugitive gas emissions from coal mines, usually containing large amounts of methane which you do not want entering the atmosphere. The legislation is attempting to provide an incentive for this to be burnt to produce power than allowing it to act as a global warming gas. I believe it is also not classified as a renewable energy source (rightly so) but only an acceptable energy source.

The real issue for me is why we are not seeing more pressure from Rudd about the introduction of a global emissions trading scheme.</description>
		<content:encoded><![CDATA[<p>I am no Labor supporter, but I can see why most of these exemptions were granted given the large export/import market distortions which would otherwise occur.</p>
<p>RE: coal seam gas. My understanding is that the legislation actually covers fugitive gas emissions from coal mines, usually containing large amounts of methane which you do not want entering the atmosphere. The legislation is attempting to provide an incentive for this to be burnt to produce power than allowing it to act as a global warming gas. I believe it is also not classified as a renewable energy source (rightly so) but only an acceptable energy source.</p>
<p>The real issue for me is why we are not seeing more pressure from Rudd about the introduction of a global emissions trading scheme.</p>
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		<title>By: jeebus</title>
		<link>http://www.crikey.com.au/2009/08/20/sucking-the-rent-out-of-ret/#comment-35025</link>
		<dc:creator>jeebus</dc:creator>
		<pubDate>Thu, 20 Aug 2009 14:07:25 +0000</pubDate>
		<guid isPermaLink="false">http://www.crikey.com.au/2009/08/20/sucking-the-rent-out-of-ret/#comment-35025</guid>
		<description>I agree with Bernard. It&#039;s appalling that the government has kowtowed to the fossil fuel industry through legislation designed specifically to support the renewable energy industry. 

Fossil fuels are already subsidized up the wazoo. Tax breaks, &quot;clean coal&quot; funding, public funded infrastructure, all manner of job programs, state governments bending over backwards... 

What happened to the pre-election talk of re-training coal miners for the renewable energy sector? 

Our government should look to emulate countries that have gotten results with renewable energy policy, like Spain and Germany. For starters, there should be a guaranteed base price at which renewable energy is sold into the grid, and this deal should be open to all generators, from the bigwigs down to the home owners.

If mums and dads can load their roof up with solar panels and collect a cheque from the power company every month, a lot of them will make the long-term investment. 

Especially given news that energy prices are going to double/triple/explode over the next decade.</description>
		<content:encoded><![CDATA[<p>I agree with Bernard. It&#8217;s appalling that the government has kowtowed to the fossil fuel industry through legislation designed specifically to support the renewable energy industry. </p>
<p>Fossil fuels are already subsidized up the wazoo. Tax breaks, &#8220;clean coal&#8221; funding, public funded infrastructure, all manner of job programs, state governments bending over backwards&#8230; </p>
<p>What happened to the pre-election talk of re-training coal miners for the renewable energy sector? </p>
<p>Our government should look to emulate countries that have gotten results with renewable energy policy, like Spain and Germany. For starters, there should be a guaranteed base price at which renewable energy is sold into the grid, and this deal should be open to all generators, from the bigwigs down to the home owners.</p>
<p>If mums and dads can load their roof up with solar panels and collect a cheque from the power company every month, a lot of them will make the long-term investment. </p>
<p>Especially given news that energy prices are going to double/triple/explode over the next decade.</p>
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		<title>By: Sean</title>
		<link>http://www.crikey.com.au/2009/08/20/sucking-the-rent-out-of-ret/#comment-35005</link>
		<dc:creator>Sean</dc:creator>
		<pubDate>Thu, 20 Aug 2009 10:09:04 +0000</pubDate>
		<guid isPermaLink="false">http://www.crikey.com.au/2009/08/20/sucking-the-rent-out-of-ret/#comment-35005</guid>
		<description>I dunno about Keating being quite so virtuous -- he caved in to the REIs when he &#039;quarantined&#039; negative gearing to being claimable only on income derived from investments rather than all income, just as was being done in the US -- a short while later the decision was reversed leading to today&#039;s pathological property &#039;investment&#039; market.  Rents didn&#039;t particularly go up, there were just a lot of threats from the REIs.

I think the ALP is just getting better and better each decade at managing the rorts and taking the party corporate donors&#039; bribes as real party membership dwindles, and increasingly borrowing from the US playbook of political corruption -- which involves both major US parties.</description>
		<content:encoded><![CDATA[<p>I dunno about Keating being quite so virtuous&thinsp;&#8212;&thinsp;he caved in to the REIs when he &#8216;quarantined&#8217; negative gearing to being claimable only on income derived from investments rather than all income, just as was being done in the US&thinsp;&#8212;&thinsp;a short while later the decision was reversed leading to today&#8217;s pathological property &#8216;investment&#8217; market.  Rents didn&#8217;t particularly go up, there were just a lot of threats from the REIs.</p>
<p>I think the ALP is just getting better and better each decade at managing the rorts and taking the party corporate donors&#8217; bribes as real party membership dwindles, and increasingly borrowing from the US playbook of political corruption&thinsp;&#8212;&thinsp;which involves both major US parties.</p>
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		<title>By: Kersebleptes</title>
		<link>http://www.crikey.com.au/2009/08/20/sucking-the-rent-out-of-ret/#comment-35000</link>
		<dc:creator>Kersebleptes</dc:creator>
		<pubDate>Thu, 20 Aug 2009 08:41:37 +0000</pubDate>
		<guid isPermaLink="false">http://www.crikey.com.au/2009/08/20/sucking-the-rent-out-of-ret/#comment-35000</guid>
		<description>Sounds a bit like the terminal phase of the various Chinese Empires, with too many powerful players gaining tax-exemption for their estates and/or access to Imperial revenues for their own private uses.

Revenue goes down and is disproportionately provided by the poorest, who cannot get out of their obligations. Government becomes enfeebled, poverty and discontent spread.

And then the Mandate of Heaven is withdrawn...</description>
		<content:encoded><![CDATA[<p>Sounds a bit like the terminal phase of the various Chinese Empires, with too many powerful players gaining tax-exemption for their estates and/or access to Imperial revenues for their own private uses.</p>
<p>Revenue goes down and is disproportionately provided by the poorest, who cannot get out of their obligations. Government becomes enfeebled, poverty and discontent spread.</p>
<p>And then the Mandate of Heaven is withdrawn&#8230;</p>
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		<title>By: AR</title>
		<link>http://www.crikey.com.au/2009/08/20/sucking-the-rent-out-of-ret/#comment-34997</link>
		<dc:creator>AR</dc:creator>
		<pubDate>Thu, 20 Aug 2009 08:25:31 +0000</pubDate>
		<guid isPermaLink="false">http://www.crikey.com.au/2009/08/20/sucking-the-rent-out-of-ret/#comment-34997</guid>
		<description>&quot;The proliferation of lobbyists -- frequently former politicians and staffers -- is one. The rise of economics consultancies who will “model” any outcome clients want -- and the unwillingness or inability of journalists to call bullsh-t on such modelling -- is another. &quot;
Sez it all really. One expects journos. to be innumerate but surely they can recognise weasling?</description>
		<content:encoded><![CDATA[<p><span class="dquo">&#8220;</span>The proliferation of lobbyists&thinsp;&#8212;&thinsp;frequently former politicians and staffers&thinsp;&#8212;&thinsp;is one. The rise of economics consultancies who will “model” any outcome clients want&thinsp;&#8212;&thinsp;and the unwillingness or inability of journalists to call bullsh-t on such modelling&thinsp;&#8212;&thinsp;is another. &#8220;<br />
Sez it all really. One expects journos. to be innumerate but surely they can recognise weasling?</p>
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		<title>By: Tom McLoughlin</title>
		<link>http://www.crikey.com.au/2009/08/20/sucking-the-rent-out-of-ret/#comment-34981</link>
		<dc:creator>Tom McLoughlin</dc:creator>
		<pubDate>Thu, 20 Aug 2009 07:15:47 +0000</pubDate>
		<guid isPermaLink="false">http://www.crikey.com.au/2009/08/20/sucking-the-rent-out-of-ret/#comment-34981</guid>
		<description>Which reminds of a great ABC radio national backgrounder on JK Galbraith, the war time economist/govt manager, two times US presidential Medal of Freedom winner, arch enemy of Richard Nixon - imagine that star on your CV.

Apparently the captains of industry during WWII would go to him whinging about their profit margins and his advisers would silently starting waving their forefingers in unison.

It was intra office code for their mentor&#039;s parable of the Ant Queen - my rough memory is that the worker ants were worried about the cows doing unmentionables on their ant nest. Whenever the bovines appeared nearby the worker ants would run to the nest and tell the Queen with their antennas waving that there was danger of cow sh*t impending. Only one day there was a big storm and torrent of water had rush down the valley picking up all the cow dung in one almighty torrent. All the worker ants rushed the Queen and all waved their antennae in unison: Look out Queen Ant there&#039;s a giant pile of bullsh*t heading this way.

Hence the waggling forefingers at the meeting with captains of industry during WW2 in the USA. Apparently he JK got his medal for keeping prices down, inflation similar etc etc. No war time profiteering on his watch. Lord be praised.</description>
		<content:encoded><![CDATA[<p>Which reminds of a great ABC radio national backgrounder on JK Galbraith, the war time economist/govt manager, two times US presidential Medal of Freedom winner, arch enemy of Richard Nixon - imagine that star on your CV.</p>
<p>Apparently the captains of industry during WWII would go to him whinging about their profit margins and his advisers would silently starting waving their forefingers in unison.</p>
<p>It was intra office code for their mentor&#8217;s parable of the Ant Queen - my rough memory is that the worker ants were worried about the cows doing unmentionables on their ant nest. Whenever the bovines appeared nearby the worker ants would run to the nest and tell the Queen with their antennas waving that there was danger of cow sh*t impending. Only one day there was a big storm and torrent of water had rush down the valley picking up all the cow dung in one almighty torrent. All the worker ants rushed the Queen and all waved their antennae in unison: Look out Queen Ant there&#8217;s a giant pile of bullsh*t heading this way.</p>
<p>Hence the waggling forefingers at the meeting with captains of industry during WW2 in the USA. Apparently he JK got his medal for keeping prices down, inflation similar etc etc. No war time profiteering on his watch. Lord be praised.</p>
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		<title>By: pwnerous</title>
		<link>http://www.crikey.com.au/2009/08/20/sucking-the-rent-out-of-ret/#comment-34973</link>
		<dc:creator>pwnerous</dc:creator>
		<pubDate>Thu, 20 Aug 2009 06:52:19 +0000</pubDate>
		<guid isPermaLink="false">http://www.crikey.com.au/2009/08/20/sucking-the-rent-out-of-ret/#comment-34973</guid>
		<description>No wonder Aussies are so cynical about politics and politicians. Sure, you expect some compromise, but this really seems to be taking the p-ss.</description>
		<content:encoded><![CDATA[<p>No wonder Aussies are so cynical about politics and politicians. Sure, you expect some compromise, but this really seems to be taking the p-ss.</p>
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		<title>By: Most Peculiar Mama</title>
		<link>http://www.crikey.com.au/2009/08/20/sucking-the-rent-out-of-ret/#comment-34936</link>
		<dc:creator>Most Peculiar Mama</dc:creator>
		<pubDate>Thu, 20 Aug 2009 05:26:33 +0000</pubDate>
		<guid isPermaLink="false">http://www.crikey.com.au/2009/08/20/sucking-the-rent-out-of-ret/#comment-34936</guid>
		<description>&quot;...I’m very frustrated by the fact that very few in power seem to be taking “carbon” seriously...&quot;

It is abundantly clear that YOU have no idea what &quot;carbon&quot; is yet you are so easily duped by meeja hacks, cereal box scientists and greentard dog whistlers that &quot;carbon&quot; is a pollutant.

Carbon is the fourth most abundant chemical element in the universe.

Yet it does not exist anywhere on Earth in its pure elemental form.

Most of the world&#039;s &quot;carbon&quot; is contained in the world&#039;s oceans.

Tell me what&#039;s your &quot;Carbon&quot; &quot;Pollution&quot; Reduction Strategy for them?</description>
		<content:encoded><![CDATA[<p><span class="dquo">&#8220;</span>&#8230;I’m very frustrated by the fact that very few in power seem to be taking “carbon” seriously&#8230;&#8221;</p>
<p>It is abundantly clear that YOU have no idea what &#8220;carbon&#8221; is yet you are so easily duped by meeja hacks, cereal box scientists and greentard dog whistlers that &#8220;carbon&#8221; is a pollutant.</p>
<p>Carbon is the fourth most abundant chemical element in the universe.</p>
<p>Yet it does not exist anywhere on Earth in its pure elemental form.</p>
<p>Most of the world&#8217;s &#8220;carbon&#8221; is contained in the world&#8217;s oceans.</p>
<p>Tell me what&#8217;s your &#8220;Carbon&#8221; &#8220;Pollution&#8221; Reduction Strategy for them?</p>
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		<title>By: Most Peculiar Mama</title>
		<link>http://www.crikey.com.au/2009/08/20/sucking-the-rent-out-of-ret/#comment-34927</link>
		<dc:creator>Most Peculiar Mama</dc:creator>
		<pubDate>Thu, 20 Aug 2009 05:12:22 +0000</pubDate>
		<guid isPermaLink="false">http://www.crikey.com.au/2009/08/20/sucking-the-rent-out-of-ret/#comment-34927</guid>
		<description>&quot;...Putting coal seam gas in the scheme was a terrible piece of stupidity...&quot;

Pretty much sums up the whole scheme.

Is this what the best and brightest come up with?

Next they&#039;ll be telling us that it is entirely possible  - and ficnancially plausible - to extract that same &#039;renewable&#039; &#039;carbon&#039; from the air and pipe it underground where it will sit in peace and quiet for the next epoch.

This kind of comedy just writes itself.

Surely you must be thoroughly ashamed and embarrassed to support these people?</description>
		<content:encoded><![CDATA[<p><span class="dquo">&#8220;</span>&#8230;Putting coal seam gas in the scheme was a terrible piece of stupidity&#8230;&#8221;</p>
<p>Pretty much sums up the whole scheme.</p>
<p>Is this what the best and brightest come up with?</p>
<p>Next they&#8217;ll be telling us that it is entirely possible  - and ficnancially plausible - to extract that same &#8216;renewable&#8217; &#8216;carbon&#8217; from the air and pipe it underground where it will sit in peace and quiet for the next epoch.</p>
<p>This kind of comedy just writes itself.</p>
<p>Surely you must be thoroughly ashamed and embarrassed to support these people?</p>
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		<title>By: Evan Beaver</title>
		<link>http://www.crikey.com.au/2009/08/20/sucking-the-rent-out-of-ret/#comment-34911</link>
		<dc:creator>Evan Beaver</dc:creator>
		<pubDate>Thu, 20 Aug 2009 04:10:49 +0000</pubDate>
		<guid isPermaLink="false">http://www.crikey.com.au/2009/08/20/sucking-the-rent-out-of-ret/#comment-34911</guid>
		<description>Putting coal seam gas in the scheme was a terrible piece of stupidity. Ditto the 5x solar credits. Are they restricted to domestic PV? That&#039;s a little less bad, but goodness it could pervert the market.</description>
		<content:encoded><![CDATA[<p>Putting coal seam gas in the scheme was a terrible piece of stupidity. Ditto the 5x solar credits. Are they restricted to domestic PV? That&#8217;s a little less bad, but goodness it could pervert the market.</p>
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		<title>By: La+zy</title>
		<link>http://www.crikey.com.au/2009/08/20/sucking-the-rent-out-of-ret/#comment-34905</link>
		<dc:creator>La+zy</dc:creator>
		<pubDate>Thu, 20 Aug 2009 04:00:15 +0000</pubDate>
		<guid isPermaLink="false">http://www.crikey.com.au/2009/08/20/sucking-the-rent-out-of-ret/#comment-34905</guid>
		<description>Yep, let&#039;s instigate schemes that have no significant impact on anyone, that&#039;s sure to drive change and innovation.

 Okay, no doubt some allowances have to be made but, like BK, I&#039;m very frustrated by the fact that very few in power seem to be taking &quot;carbon&quot; seriously... I&#039;ve had a gutful.</description>
		<content:encoded><![CDATA[<p>Yep, let&#8217;s instigate schemes that have no significant impact on anyone, that&#8217;s sure to drive change and innovation.</p>
<p> Okay, no doubt some allowances have to be made but, like BK, I&#8217;m very frustrated by the fact that very few in power seem to be taking &#8220;carbon&#8221; seriously&#8230; I&#8217;ve had a gutful.</p>
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