Australian banks are eyeing opportunities to cash in on the proposed carbon tax by developing new financial products and services that capitalise on a market seen to be worth billions of dollars annually, according to a report by the Australian Financial Review.
Australian financial firms that have experience in European carbon markets, such as Macquarie Group Ltd, Westpac Banking Corp Ltd and ANZ Banking Group Ltd are particularly keen to establish their presence in the Australian market.
The initial three-year fixed carbon tax period from 2012 will serve as time to prepare for the release of ETS permits by 2015, when opportunities will really open up for banks to capitalise on the carbon market.
ANZ's head of energy trading said the value of the derivatives carbon market would dwarf the $10 billion initially raised by the government, according to the AFR.
http://www.businessspectator.com.au/bs.nsf/Article/Banks-look-to-capitalise-on-carbon-tax-report-pd20110712-JPQRL?OpenDocument&src=mp
In a flagrant and cowardly reversal of policy, Australian Prime Minister Julia Gillard, NOW supports the Goldman Sachs devised Carbon Tax based penalty economy.
After emphatically stating that her government would never implement a carbon tax we now have one of the biggest backflips in Australian political history, equal to, if not greater than, the opposition’s backflip on the ‘never, ever’ GST. What the population learns from these events is that mainstream politicians have NO INTEGRITY WHATSOEVER and should be shunned at all future elections in favour of REPRESENTATIVE INDEPENDENTS.
If any Aussie is surprised by Gillard’s brazen treachery and kowtowing to the Corporations then they deserve to be led by the major parties. One only need hearken back to her attempt to implement the overtly Stalinist policy of allowing Corporate bosses access to the PRIVATE emails and social communications of their employees to appreciate her REAL character! This overt Stasi policy should have alerted all Aussies to Gillard’s true nature and real credentials – that is, to serve her Corporate masters at any cost to the nation and the public.
Trillions of dollars have been extracted from the nation by Transnational Corporations with hardly a return to the people; our essential services, transport, hospitals, dental etc, are in a shambles while bloated Transnational Corporations abscond with ALL the money. Ask yourself, what have the major parties done to correct these horrendous imbalances and injustices? Short answer, ‘sweet f**k all!’
It is NOW OBVIOUS that both major parties serve Corporate interests. Be advised AUSTRALIA, this is not a matter of which traitorous party to elect but a deteriorating social crises with devastating ramifications – AUSTRALIAN DEMOCRACY IS UNDER THREAT from the Liberal AND Labor Parties, both of which are in the pockets of Corporatists!
Regardless of all the flak Gillard receives from the opposition over her spineless new stand, the ‘opposition’ would implement, via stealth, the same policy under another name and form, make no mistake. Oz is undergoing a political crisis as I write and if the people do not take a stand then they deserve their fate.
The REALITY is simple, it is OUR NATION and OUR FUTURE, the prerogative is OURS. Vigorously oppose all inequitable policies and unfair taxes, regulate all the major Corporations and TAX THEM for the damage their have wrought on our environment and the climate – ALL pollution is the result of Corporate activity and can cease if the Corporations are prohibited from directly or indirectly producing polluting substances, FACT!
Install REPRESENTATIVE INDEPENDENTS into office at EVERY LEVEL of government and restore the AUSTRALIAN COMMUNITY.
Most rational people are aware that climate change is a reality BUT there are a number of factors responsible. Solar activity being the MAJOR DRIVER of climate; greenhouse gases and pollution are minor contributors but contributors nevertheless and must be reduced by regulation. Increased carbon levels are a CONSEQUENCE of global warming not the cause, however, Goldman Sachs and BIG Finance, which only recently plunged the entire world into economic crisis, have devised a TAX (Carbon Con) to correct their failing economic model. They wish to shift the globe from a FAILED over-production/consumption model to a PENALTY based economy, while all the while increasing their wealth and maintaining their position as the leading influences of the global economy via tradeable carbon derivatives/swaps/'certificates') – ‘nice rort’ but the informed will have none of it!
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