How to cook the goose that lays golden eggs

13 03 2012

The tax is not even in yet but it is already working exactly the way I said it would. No government is exempt from the laws of economics any more than they exempt from gravity…

AUSTRALIA’S global share of the capital raised for mining projects has sunk from 21 per cent to 15 per cent since 2008 as other countries such as Russia, India and China attracted tens of billions of dollars in additional funding…

The figures, which were compiled by research firm Intierra and the Association of Mining and Exploration Companies, show that the value of capital raisings in Australia increased slightly from $4.3 billion to $4.5bn between 2008 and 2011.

But in the same period, the value of capital raisings rose strongly in Africa (up 26 per cent), Canada (up 31 per cent), South America (up 59 per cent) and the rest of the world (up 78 per cent)…

AMEC national policy manager Graham Short said the data proved federal and state governments had to recognise Australia must become more competitive in attracting investment…

“We have extreme concerns with things like the mining tax and carbon tax.”

It’s not going to happen until we vote the most economically illiterate government of modern times out of the office.





If windmills were so good, combustion engines would’ve never taken off

6 03 2012

To the nearest whole number, the percentage of the world’s energy that comes from wind turbines today is: zero. Despite the regressive subsidy (pushing pensioners into fuel poverty while improving the wine cellars of grand estates), despite tearing rural communities apart, killing jobs, despoiling views, erecting pylons, felling forests, killing bats and eagles, causing industrial accidents, clogging motorways, polluting lakes in Inner Mongolia with the toxic and radioactive tailings from refining neodymium, a ton of which is in the average turbine — despite all this, the total energy generated each day by wind has yet to reach half a per cent worldwide. 

If wind power was going to work, it would have done so by now…

In a wish to be seen as modern, (politicians) will embrace all manner of fashionable causes. When this sets in — groupthink grips political parties, and the media therefore decide there is no debate — the gravest of errors can take root. The subsidising of useless wind turbines was born of a deep intellectual error, one incubated by failure to challenge conventional wisdom.

It is precisely this consensus-worshipping, heretic-hunting environment where the greatest errors can be made. There are some 3,500 wind turbines in Britain, with hundreds more under construction. It would be a shame for them all to be dismantled. The biggest one should remain, like a crane on an abandoned quay, for future generations to marvel at. They will never be an efficient way to generate power. But there can be no better monument to the folly of mankind.