Two good bits of analysis of the current and future prospects for the emissions trading scheme from Rod Oram over the last few days. In the Sunday Star Times he dissects the lobbying by Tiwai Point owner Rio Tinto, and finds a strange dichotomy between the statements to the parliamentary select committee and its actions elsewhere:
It’s a great shame for the sake of its credibility that Rio Tinto failed to tell MPs that the government’s ETS and renewable energy strategy would give Tiwai Point a significant competitive advantage. The smelter could offset its minimal emissions with New Zealand forest credits. It would become Rio Tinto’s world source of the highest purity, greenest and highest priced aluminium.
And in his regular business commentary slot on Kathryn Ryan’s Nine To Noon show on Radio NZ National this morning, he explores the prospects for the ETS in this election year (stream, podcast). Well worth a listen.
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There’s an article in the May 30 NBR too “Rio Tinto’s argument doesn’t stack up” (not online yet) based on a Citigroup report. Basically says their profitability is high and getting higher (as opposed to Rio’s pleas of being in a precarious financial position).
On moving offshore:
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