Just catching up on some old posts - some great discussion thanks guys. I took a special liking to this thread due to some well deserved recognition for the great legend himself, Mr Nikola Tesla
When one considers the simple solution to the global Co2 dilema has been available for over 110 years, since Tesla invented the Fuelless Generator and Wireless Power Transmission at the beginning of the 20th century, only then can we begin to understand the serious crimes committed on society by capitalism.
One of the greatest minds of the 19th and 20th centuries, responsible for today's modern world, Nikola Tesla is still virtually unknown to today's textbooks, teachers, and general public. Thinking back to your high school years and looking through an encyclopedia, who do you remember as the inventor of radio? The name that probably comes to mind is Marconi. And if I asked the same about X-rays, you'd probably say Roentgen. And a vacuum tube amp, probably de Forest. While you're at it, who invented the florescent bulb, neon lights, speedometer, auto ignition system, and the basics behind radar, the electron microscope, and the microwave oven? Chances are you see little, if any, mentions of Tesla. Very few people today have ever even heard of him. The all-around nice guy Thomas Edison made sure of that.
Tesla moved to the United States in 1884. When he arrived, he worked as an assistant to Thomas Edison, then in his late 30's. Edison had just invented the electric light bulb, but he needed a system to distribute electricity to houses. He designed a DC (direct current) system, but it had many bugs in it. Edison promised Tesla lots of money in bonuses if he could get the bugs out. Tesla took the challenge and ended up saving Edison over $100,000, which was millions of dollars by today's standards. Edison later refused to keep his promise. Tesla quit not long after that, and Edison spent the rest of his life trying to discredit Tesla (which is the main reason why he is so unknown today).Tesla Vs Edison
Tesla once said of Thomas Edison, "If Edison had a needle to find in a haystack, he would proceed at once with the diligence of the bee to examine straw after straw until he found the object of his search.. I was a sorry witness of such doings, knowing that a little theory and calculation would have saved him ninety per cent of his labor." ___
Anyway, sorry for drifting off topic. I wanted to ask for some more opinions in regards to the Governments new $10 billion dollar CEFC scheme. I've just gone over some of the detail including CFU's submission which I've linked below and I'm of the opinion that CFU should in fact attract some of this investment - They certainly appear to fit the criteria, and possibly more so than most of the other submissions? ___
Experts to Advise on Clean Energy Finance Corporation
The Gillard Government has appointed Ms Jillian Broadbent AO to chair an expert review to advise on the design of the $10 billion Clean Energy Finance Corporation (CEFC), which will provide a new source of finance to renewable energy, energy efficiency and low emissions technologies.
Ms Broadbent is a board member of the Reserve Bank, a position she has held for over thirteen years. She also serves on the boards of Woolworths Limited and ASX Limited, and was previously a director of Woodside Petroleum Limited, Coca-Cola Amatil Limited and Qantas Airways Limited. Ms Broadbent is Chancellor of Wollongong University and was made a companion of the Order of Australia in 2003 for service to economic and financial development in Australia.
The Government has also appointed Mr David Paradice and Mr Ian Moore to the expert review panel. Mr Paradice has over two decades of experience in funds management, specialising in smaller company investing, and now manages some $6.6 billion in assets through the boutique investment fund he established in 1999. Mr Moore has over two decades of banking, finance and actuarial experience, predominately at Bankers Trust, and is an expert in risk and return profiles of debt and equity financing.
The expert review panel will consult with key stakeholders and report to the Government by mid-March 2012 with recommendations on the:
The recommendations of the review will inform the drafting of legislation, which will be introduced into Parliament next year in order to allow the CEFC to commence operations from 2013-14.
The Government announced the CEFC as part of the Clean Energy Future package in order to encourage private investment and help overcome capital market barriers to commercialising clean energy technologies. The CEFC will also invest in firms utilising these technologies as well as manufacturing businesses which focus on producing inputs to these technologies.
Together with putting a price on carbon pollution, the establishment of the CEFC will help Australia meet the environmental and economic challenges of competing in a low-pollution world.
I struggle to understand how our Government establishes an "expert" review panel made up of 2 bankers and only one real "expert" being the Chancellor of Wollongong University?
It does encourage me to keep an eye out for an early verdict indicated through trading patterns during the month of March - Better note that in the diary ;) ___
