The Carbon Sense Coalition today called for the preparation of independent Economic and Environmental Impact Statements before Australia or New Zealand introduced an Emissions Trading Scheme.The Carbon Sense Coalition today called for the preparation of independent Economic and Environmental Impact Statements before Australia or New Zealand introduced an Emissions Trading Scheme.
The chairman of “Carbon Sense”, Mr Viv Forbes, said it was staggering that politicians could consider such a huge speculative venture with no Prospectus, no independent economic assessment, no environmental impact statement, no due diligence and no sunset clauses.
“Sale of these Emissions permits is no different from an offer of speculative shares – they are offering to sell bits of paper recording property rights – in this case the right to emit carbon dioxide. However the massive scale of the offer will dwarf any previous capital raisings in our region, and the benefits are highly speculative. And like all promoters, the governments are rushing things along to catch the boom before the global warming bubble is punctured by economic and scientific reality.”
“ASIC should demand the same standards as are imposed on every capital raising – independent assessment of the scientific facts presented by the promoters and an auditor’s report on the financial and environmental risks of the venture.”
“The scientific basis for more carbon taxes is disappearing like frost in the morning sun – every day more scientists join over 30,000 who have signed petitions or written papers denying the case put forward by the IPCC.”
“Not even the climate agrees with the IPCC, with temperature falls over the last 10 years wiping all of the temperature increases since 1900.”
“Naturally many multi-national trading firms are setting themselves up to profit mightily from trading, hedging and speculating with these new financial playthings. However, as Gordon Brown and his UK government are finding, any proposal to add more carbon taxes to the prices of petrol, electricity and food is not a vote-getter, no matter how cunningly the poison pill is disguised.”
Viv Forbes, Chairman, The Carbon Sense Coalition, has spent his life working in exploration, mining, farming, infrastructure, financial analysis and political commentary. He has worked for government departments, private companies and now works as a private contractor and farmer.
Viv has also been a guest writer for the Asian Wall Street Journal, Business Queensland and mining newspapers. He was awarded the “Australian Adam Smith Award for Services to the Free Society” in 1988, and has written widely on political, technical and economic subjects.
