Whitehaven, New Hope, Bowen Coking Coal and Peabody Australia warn on prices, jobs as coal faces ‘carbon tax by stealth’
"Major coal companies are warning that Anthony Albanese’s deal with the Greens to pass Labor’s signature climate policy is a “carbon tax by stealth” that will drive up energy prices, destroy jobs and kill foreign investment.
Whitehaven, New Hope, Bowen Coking Coal and Peabody Australia condemned Labor’s 11th-hour safeguard mechanism shake-up amid concern the changes would damage prosperity and make it harder and more expensive to reduce emissions.
The companies – which collectively represent $15bn worth of fossil fuel projects and count billions of dollars in their investment pipeline – say the government’s proposed amendments will make Australia uncompetitive..
,,,New Hope Group chief executive Rob Bishop said the amendments were built on “a political objective on a base demonisation of fossil fuels” and that they would see Australia abandon its role as a reliable energy exporter for the region..."
NHC Price at posting:
$5.65 Sentiment: Hold Disclosure: Held
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