First coal, now LNG jolted by climate change measures in Australia
Aussies are not Japanese, but they sure have refined the art of Sepuku (ritual suicide) in the business world. They may think that those pesky corporations have enough money and shall pay but those companies are also in a competition with the rest of the world and Aussie LNG projects are not exactly on the cheap side. This is absolute madness and Australia will pay a heavy price for such foibles. Maybe the world should watch and take note. At least, maybe other countries get smarter when they see the Aussie drama unfold.
The concept that producers of fossil fuel will have to pay for the carbon emissions created by their use is something the industry will no doubt fight tooth and nail, but two recent developments in Australia show the battle may be starting.
