Score one for the planet

Several pieces of news in quick succession, have made in clear that the nightmare prospect of six mega-coal mines in the Galilee Basin has been staved off, at least for the foreseeable future. The key to the whole process is the Carmichael mine proposed by Indian conglomerate Adani. The rail line and port expansion proposed by Adani is necessary if any of the other mines are to proceed. Now the goods news

* Having already sacked its contractors, Adani is laying off most of its own staff, their non-denial denial notwithstanding. The break with Korean Steel company POSCO is particularly notable since POSCO was a likely equity investor and could have brought in debt funding from the Korean Export-Import bank
* The Federal Court overturned Minister Hunt’s approval of the project. While the grounds were technical, the decision raises the possibility that the whole process will need to be reassessed in the light of the adverse information that
* The Commonwealth Bank, the last likely source of debt finance for the project has ended its role as advisor

The remaining question is why, with no mine remotely in prospect, the Queensland government is still calling for expressions of interest in dredging for the proposed Abbot Point expansion. Hopefully, they have just been going through the motions. But, with the latest news, it’s time to stop throwing public money at this mirage. The tender process should be halted, at least until, and unless, the project is re-approved.

81 thoughts on “Score one for the planet

  1. Since there is no Monday Message, I’ll plop this link here. A recommendation is that doctors are paid more if the health of their patients improves. Am I alone in thinking that will have the perverse effect of doctors avoiding chronic illness patients, or patients who could decline precipitously?

  2. @Donald Oats

    No, you are not alone in thinking that.

    Other likely perverse outcomes of using a “price signal”:
    – initially diagnosing illness to be worse than it really is (and therefore overstate “improvement”);
    – overstating “improvement” (get up and walk! I’ve cured you) and therefore prematurely ending treatment.

  3. @Ikonoclast

    This should be in the Sandpit now there is one. I agree, it is not one of his best songs by any means; but it’s intriguing.

    I wonder which jazz musicians he had in mind. I know a few who imagine themselves to be the policers of the purity of the jazz, and they didn’t like this song or find it amusing either.

  4. @alfred venison

    I noted that the term ‘merger’ is used a fair bit. That doesn’t change the fact that it’s inaccurate. A false statement is not converted into a true one by repetition (although it’s been said that a lie travels halfway round the world while truth is pulling on her boots). The statement that the CLC became part of the NDP (offered in support of the use of the term ‘merger’) is false. Note that on the talk page all you’ve got is one person saying (correctly, as it happens) that the CLC still exists as a separate organisation and one other person saying (incorrectly) the CLC became part of the NDP, offering no evidence and citing no source. Note also that the web page of the CLC itself says nothing about its being part of the NDP. Don’t you think that if the CLC was part of the NDP the CLC would know about it? (Even if you’d rather rely on Wikipedia, the Wikipedia page on the CLC says nothing about its being part of the NDP.)

    As for the transnational comparison of political parties, on the one side I have the evidence of the official opinion of the NDP and the ALP themselves that they are similarly positioned parties; on the other side I have the evidence of the opinion of a few blog commenters. To me the first carries more weight than the second. Likewise, I have the evidence of the official opinion of the parties involved that the closest to a Canadian equivalent of the Australian Greens is not the NDP but rather (unsurprisingly) the Green Party of Canada, and again that carries more weight with me than the opinion of a few blog commenters. I am well aware that if a few blog commenters choose to believe that they know where these parties stand better than the parties do themselves, they can’t be stopped.

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