Are Coal miners using flawed investment models to oppose a Carbon Tax?

This morning Ralph Hillman from the Australian Coal Association was waxing lyrical on the Carbon tax on ABC news radio.

There’s a transcript of Hillman’s pitch to Alexandra Kirk on the ABC website.

The thoughts I shared on twitter at the time were formed from my understanding that before anyone would agree to invest multiple millions of dollars in long term investments like coal mines, any associated risk would be investigated and included in the business modelling.

But as I listened to Ralph’s barely questioned performance, it seems the coal industry either failed to include the risk of a carbon tax on their investment models into account or he was telling some fibs.

If it’s the former then whomever did that modelling should be “retrained”.

If the latter, then I submit journalists should consider  toughening up their questioning of seemingly unreliable witnesses. Either that or stop giving them platforms to broadcast their misinformation.

For more on this “boy who cries wolf” rubbish from earth gougers like Hillman during the previous CPRS debate¬†read Bernard Keane in Crikey in 2009.


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