invest divest, page-12

"Do you know what this means for trade???

There may never be a better a better time than now to change our direction. Hanging onto a declining fossil fuel industry is reminiscent of those that refused to accept the horseless carriage 100 years ago.

The future of coal is indeed dim and we had better start doing something to protect our future prosperity.

The effect of carbon pricing on Australia should not be seen only in terms of a trade disadvantage with our competitors. The advantages it does give us are reduced carbon emissions but more importantly finance to support the energy industry of the future.

This places us in a position to restructure when burning coal is no longer the cheapest form of energy.

"Looking abroad, Obama pledged to end US government financing of overseas coal projects, a promise that could end millions of dollars in support for power plants in nations such as Vietnam and India. He called for ending US support, unless these projects are in the poorest nations or have expensive carbon-capture technology."

Read more: http://www.smh.com.au/business/carbon-economy/coals-future-dims-under-obamas-climate-plan-20130703-2pam8.html#ixzz2XvH18ZwQ