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Official figures confirm that the carbon tax is imposing a $150 million burden on the Australian economy every week. What they don’t reveal, is that unless the Parliament acts, that bill will increase to $157.5 million per week on 1 July.

A Critique of the Coal Divestment Campaign

The fossil fuel industry, in general, and the coal industry, in particular, has come under attack from environmental activists seeking to end Australian coal production and exports. If the goal of the campaign is to end coal production, the means to that end is to persuade investors that coal has no economic future and to persuade them to ‘divest’ out of fossil fuel based industries.


Australia’s economy has undergone a major transformation over the past 20 years with improved economic performance off the back of sustained economic reform begun in the 1980s and rapid economic growth in emerging Asian economies (most notably China). The minerals industry has been both a beneficiary of reforms that have made the economy more open and flexible and a driver of Australia’s improved economic performance. The Millennium Mining Boom represents a decade-long structural adjustment with mining now a permanently larger part of Australia’s economy. The resources industry as a whole (including oil and gas) accounted for around 18 per cent of Australia’s nominal GDP in 2011-12, double the share in 2003-04. There has been an equally dramatic shift in the composition of Australia’s exports. Minerals exports (excluding oil and gas) currently account for around 80 per cent of resources exports, 50 per cent of total Australian exports and roughly 10 per cent of nominal GDP.
The gains from Australia’s new resources economy are large and enduring, including from higher incomes, increased exports, better paying jobs and increased taxes and royalties.

EEO Senate Committee submission

The Minerals Council of Australia (MCA) is pleased to support the Energy Efficiency Opportunities (Repeal) Bill 2014. The Energy Efficiency Opportunities (EEO) program is a business reporting scheme with the stated goal of increasing business capacity to identify energy efficiency projects within a firm. Mining companies have scored highly in successive reviews of the EEO program both for identifying opportunities and for converting them into energy savings. In the Australian Government’s review of the first five years of the scheme (2006-2011), the mining sector realised 53 per cent of identified savings1. In the last three years of this first cycle:

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