In what we’ve learned to be the usual Greg Hunt response, he has - TopicsExpress

In what we’ve learned to be the usual Greg Hunt response, he has slapped on a bunch of ‘Conditions’ and ‘Offsets’ to mitigate any environmental damage, 36 in this case, although a Senate enquiry has shown what rubbish these are. “These 36 conditions complement the conditions imposed by the Queensland Government, and will ensure the proponent meets the highest environmental standards and that all impacts, including cumulative impacts, are avoided, mitigated or offset.” – Greg Hunt So what are the net benefits for Australians? Economic reports continue to show us that coal is just not profitable anymore. There are real questions surrounding the viability of Galilee Basin coal projects in the face of a long term, downward trend in global coal prices. A huge investment in infrastructure by Adani is needed to service the Carmichael mine, which has driven down their potential for profit substantially. “Good quality steaming coal exported from Australia is fetching about $US67 ($71.30) a tonne in the spot market, which means that after taking borrowing costs into account there would be little profit margin.” - SMH Excerpt from the article by KATE CALLAGHAN

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