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Howard would have delivered

Date: 30-Jul-10
Author: Paul Gilding - Business Spectator
The unpleasant reality for Australia's Labor-leaning climate advocates is that a vote for John Howard at the last election would have yielded exactly the sort of ETS that Rudd failed to deliver

Tackle climate change now: AMA

Date: 30-Jul-10
Author: AAP - Business Spectator
Australian Medical Association (AMA) president Andrew Pesce has called on the federal government to set up a national climate change and health strategy.

"Failure on the part of governments internationally to achieve significant reductions in greenhouse gas emissions is likely to result in significant public health problems," Dr Pesce said in a statement.

Solar research centre to close

Date: 30-Jul-10
Author: AAP - Business Spectator
An award-winning solar research centre has lost its funding as part of Labor's proposed cuts to finance a "cash-for-clunkers" low-emissions car program, the Greens say....
But the fine print on the announcement has revealed it's funded by raiding existing environmental programs from solar power to low-emissions technology...
In 2007, researchers at the centre won several Eureka Prizes for producing the world's most efficient and low-cost solar cells.

Mining tax rift widens

Date: 30-Jul-10
Author: Rachel Hewitt - Herald Sun
He also lashed out at the chiefs of the big miners, BHP's Marius Kloppers, Xstrata's Mick Davis and Rio's Tom Albanese as the "self-appointed powerbrokers" of "international companies".

"A lot of mining people are seriously cranky about this fake 'settlement' of spin and the stealing of our fight. Julia Gillard must have thought we're just one big happy union and these were our leaders.

Miners tell Gillard to scrap MRRT

Date: 30-Jul-10
Author: Business Spectator
The head of Pilbara iron ore miner Atlas Iron, David Flanagan, added that the concept the Government "had done a deal" with the mining industry as a whole was wrong, and that the proposed tax would cause his company to go backwards if implemented.

"A deal hasn't been done," he said, calling on the Government to explain how it had forecast a gain in federal revenue from the iron ore industry when the iron ore price had actually fallen by 30 per cent.

Another gas contamination scare

Date: 30-Jul-10
Author: AAP - Business Spectator
Tests will be carried out at a second underground coal gasification (UCG) trial in Queensland.

Local farmers fear that UCG trials have contaminated the waters in Kogan Creek, near Dalby in southwest Queensland.

A UCG pilot plant at Kingaroy, 210km northwest of Brisbane, was closed down earlier this month after traces of the cancer-causing chemicals benzene and toluene were found in bores near the plant.

Europes coal-face makeover

Date: 30-Jul-10
Author: Karen Maley - Business Spectator
European Commission released a new proposal that would only allow states to subsidise unprofitable hard (black) coal mines if the mine had a plan for closing down within the next four years. Further, the EU said that subsidies paid to unprofitable mines were to be used for retraining miners and cleaning up the mines, rather than for expanding production. The level of subsidy will be progressively decreased over the next four years, and those mines that fail to close by the October 2014 deadline will have to repay their subsidies.

Civilisation goes west, leaving empire on the edge of ruin

Date: 26-Jul-10
Author: Paul Sheehan -SMH
The sovereign debt crisis in Europe, the US and Japan is, he says, ''far from over. The situation is dire''. But not in Australia. Instead, he posits a different challenge for this country: ''We are shifting into an era of Asian dominance . . . Australia is effectively part of the Chinese economy . . . Do you want to be a colony of the Chinese empire?''...
''You have a fantastic opportunity to do things that other Anglo-Saxon countries can only dream of. You should be setting up a sovereign wealth fund like Norway,'' he says. This would serve as a buffer to the inevitable downturn in the global commodities market and any stumbles by China. ''You had the golden opportunity, but it was frittered away in a pseudo-Keynesian spending binge.''

So much for Kevin Rudd's and Julia Gillard's claim to have saved Australia from the global economic crisis. The world's most famous economic historian has just given them an F.

Huntlee housing project resurrected

Date: 26-Jul-10
Author: Kelsey Munro - SMH URBAN AFFAIRS
An internal department email tabled in Parliament has revealed that a chief planner, Michael File, told the proponent in January that the fee for a second application would be ''approx $70K''. Under the Part 3A schedule of fees a new project of this size would ordinarily cost more than $900,000.

Ministers mate link to grant

Date: 26-Jul-10
Author: Linton Besser - SMH INVESTIGATIONS
JOHN MAITLAND, an associate of the disgraced former minister Ian Macdonald, was a beneficiary of a NSW clean coal grant worth up to $159,000 that was approved by Mr Macdonald before he left Parliament.... Their relationship first hit the headlines last year, when it was revealed Mr Macdonald had granted a mining exploration licence on Christmas Eve 2008 to Doyles Creek Mining, part-owned by Mr Maitland, for $1.2 million. The licence was not subject to tender and when Doyles Creek Mining was floated as NuCoal, Mr Maitland's original $165,623 stake rocketed in value to about $10 million.

Miners plan anti-tax ads this week

Date: 26-Jul-10
Author: AAP
Prime Minister Julia Gillard will be given another headache this week with junior and mid-tier miners set to relaunch their advertising campaign against the government's proposed mining tax...

Mr Forrest has called the proposed mining tax a secret and "sinister" deal between Rio Tinto, BHP Billiton and Xstrata.

Lead in blood forces worker from Xstrata mine

Date: 26-Jul-10
Author: ABC
A new report has found a worker had to be removed from an Xstrata mine in Mount Isa in north-west Queensland because of high levels of lead in his blood.... The mining giant is facing a series of lawsuits after extensive testing in recent years revealed a number of children in Mount Isa had lead poisoning... The report also shows one person died at its George Fisher site last year, and a number of employees who suffered serious injuries at the same mine had significant time off

Addiction to plastic is fuelling marine disaster

Date: 25-Jul-10
Author: Tim Elliott - SMH
The UN Environment Program estimates that plastic debris causes the deaths of more than 1 million seabirds and more than 100,000 marine mammals every year. In 2006, the UN concluded that every square mile (260 hectares) of ocean contained 46,000 pieces of floating plastic.

Plan to block motorways

Date: 25-Jul-10
Author: Heath Aston
Funding for Sydney's incomplete motorway network would be strangled by the Greens in favour of a huge investment in public transport.

The party, which is likely to hold the balance of power in the Senate after the election, may also consider ''converting'' motorways to rail corridors.

Senate hopeful Lee Rhiannon yesterday launched the Greens' transport ''vision for sustainable transport in western Sydney'' from the bicycle track above what she called the ''pollution-laden tangle of motorways'' where the M4 crosses the M7 at the Light Horse interchange.

Ms Rhiannon, who has been given a 50-50 chance by pollsters of securing a Senate berth, said the federal government had spent $58 billion on roads over the past 30 years compared with just $1.5 billion on public transport.

She said the Greens would support funnelling at least half of all federal transport funding into public transport.

Critics blast emissions forum as more hot air

Date: 25-Jul-10
Author: Stephanie Peatling - SMH
Labor's proposal for a citizen's assembly on climate change has been derided by environment groups, scientists and economists who say it will delay urgently needed action.

Economist and Reserve Bank board member Warwick McKibbin said the government's climate policy was ''extremely disappointing''.

''The science and expert input has made a strong case for action for more than a decade,'' he said. ''What would be required to come out of a citizens' assembly to convince the government to take action? An absolute majority? A majority in key electorates? This appears to be another 2020 summit-style delay to make it appear that action is being taken when the purpose is purely delay for political advantage.''

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Gas-related News from Get your Australian Business News at wotnews.com.au

Business Spectator construction & engineering
AJ Lucas granted Federal Safety Commission accreditation
30-Jul-10 15:37

AJ Lucas granted Federal Safety Commission accreditation... 30 Jul 2010 15:37 PM

Wollombi Against Gas Extraction
Gas Watch 91: AGL ENERGY awarded Green Globe Awards - by NSW Government
30-Jul-10 10:20

The NSW Government should be ashamed to have bestowed these awards and the Minister for the Environment and Climate Change should revoke them.

CE Daily
Mine faces fines of up to $15.8 million; 'unmistakeable' signs of warming – report; more
29-Jul-10 15:38

* Queensland mine faces fine of up to $15.8 million * 'Unmistakeable' signs of warming: U.S. report * WA funds commercial composting project * Caroma, AGL, Sydney Water among NSW ...

Business Spectator construction & engineering
AJ Lucas warns of $4m EBITDA loss
28-Jul-10 20:38

AJ Lucas warns of $4m EBITDA loss... 28 Jul 2010 20:38 PM

mUmBRELLA
Thrive PR to represent Sunbeam
26-Jul-10 17:00

Kitchenware brand Sunbeam has appointed Thrive PR to handle its public relations. Sunbeam has also been building up its profile through sponsorships of Ten’s Master Chef and Seven’s My Kitchen ...

Banking Day
AGL cancels bank lines
26-Jul-10 06:48

AGL Energy (rated BBB) advised the ASX on Friday morning that it had priced a US$300 million bond issue in the traditional private placement market in the US. The issue ...

Bigpond business & finance
AGL transfers $300m debt to US markets
23-Jul-10 15:31

AGL Energy Ltd has successfully transferred some of its debt to US markets to diversify its funding sources.

ASX Newbie
Midday Market Roundup 23rd July
23-Jul-10 13:26

The market is up 76. The SFE Futures were up 64 this morning. Wall Street closed up 201 overnight. The S&P 500 is now up 7% from the 10 month ...

ninemsn Business News
AGL transfers $300m in debt
23-Jul-10 12:11

12:07 PM

TheBull
AGL transfers $300m in debt
23-Jul-10 12:02

AGL Energy has transferred some of its debt to the US market as part of plans to lengthen its debt maturity and diversify its funding sources.

Business Spectator resources & energy
AGL completes US equity raising
23-Jul-10 11:43

Renewable energy company says notes offer oversubscribed. 23 Jul 2010 1:09 PM

The Australian Business News
AGL raises $US300m toward bank debt
23-Jul-10 10:15

AGL Energy today said it raised $US300 million in the US private-placement market to fund the cancellation of bank debt facilities.

Yahoo!7 Finance News
AGL axes 155 jobs
22-Jul-10 11:08

Power company AGL insists its customer service will not be affected, despite the axing of 155 clerical jobs.

NEWS.com.au Victoria
AGL axes local jobs
22-Jul-10 00:01

ENERGY company AGL is moving 155 Victorian jobs overseas, saying the cuts will curtail soaring electricity bills.

Radio National Breakfast - business & finance
2010-07-21 Business leaders appalled at capping population levels
21-Jul-10 00:00

Not a big Australia but a sustainable Australia - that's the government's mantra. Yet this government, and the previous one, have maintained record levels of immigration in recent times and ...

Business Spectator resources & energy
Mosaic Oil board recommends AGL proposal
15-Jul-10 11:25

Mosaic Oil board recommends AGL proposal... 15 Jul 2010 11:25 AM

My Share Trading
Mosaic Oil Accepts AGL Takeover Bid
15-Jul-10 10:20

Australian oil and gas explorer Mosaic Oil ( ASX:MOS ) has accepted a takeover offer by AGL Energy ( ASX:AGK ), valuing Mosaic at $130 million. The board of directors ...

Australasian Investment Review
Corporates: AGL/Mosaic, Linc
15-Jul-10 01:48

AGL Energy's move to buy#160;explorer Mosaic Oil NL for around $130 million for a big hole in Queensland will succeed. AGL wants Mosaic not for its exploration interests (which could ...

Business Day
Mosaic accepts AGL bid
15-Jul-10 00:11

Oil and gas explorer Mosaic ...

Bigpond business & finance
AGL to buy out Mosaic
14-Jul-10 23:39

Mosaic Oil NL has agreed to an AGL Energy Ltd buyout worth $130 million.

Sky News Business
Mosaic agrees to AGL buyout worth $130m
14-Jul-10 14:09

Mosaic Oil NL has agreed to an AGL Energy Ltd buyout worth $130 million.

Business Spectator resources & energy
Mosaic Oil backs AGL takeover offer
14-Jul-10 13:50

Target says offer reflects full value of its oil and gas portfolio. 14 Jul 2010 1:50 PM

The Australian Business News
Mosaic recommends AGL offer
14-Jul-10 13:28

MOSAIC Oil today urged its shareholders to accept a $123 million cash takeover offer from AGL Energy.