Nothing to worry about IMHO........................... Just like the mining tax shares dropped a little then and rebounded unaffected.....basically companies will put out scare stories now to oppose the tax naturally on the impact of it on their company which will touch insecure investors but this will eventually just be priced in anyway with no real affect hence people that buy now will make a nice profit.
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Industry begins carbon tax fightPublished 4:59 AM, 8 Jun 2011 Last update 4:59 AM, 8 Jun 2011
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QUICK SUMMARY | FULL STORY | CLIMATE SPECTATOR | RESOURCES & ENERGY | COMMENT
Australian industry took its first step towards strengthening its opposition to the government's carbon tax plans yesterday by releasing a report claiming no major coal-producing country currently levies a direct charge on greenhouse gas emissions from coal mines, according to The Australian newspaper.
The Australian Coal Association, which released the report, is arguing that coal producers, among other industry sectors, will not be able to compete against international producers when the carbon tax is introduced.
The Minerals Council of Australia came out in support of the research yesterday, saying similar challenges would face 13 key commodities, including iron ore, gold, nickel and aluminium.
A spokesman for Climate Change Minister Greg Combet said that most of Australia's coal miners will not feel a significant impact from the carbon tax, as they are not emissions-intensive, according to The Australian.
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