By Pia Rivera
A look at biofeuls company Gevo (NASDAQ:GEVO), producer of renewable gasoline and jet fuel.
Highbank Resources (TSXV:HBK) commented on the decision by the government of British Columbia to hold a summer session that will look at the development of a $36 billion LNG project funded by Malaysia’s Petronas. Highbank noted that comments regarding the project from Finance Minister, Mike de Jong and Deputy Premier,
Australian Mining reported that Clive Palmer has said his company, Queensland Nickel Pty Ltd., will not pay a $6.2-million carbon tax bill that the company incurred when it failed to pay for carbon units equivalent to 206,436 emissions back in June.
Platts reported the Australian mining industry welcomed Saturday’s election of Prime Minister Tony Abbott and his coalition’s pledge to abolish the carbon tax on fugitive greenhouse gas emissions from coal mines and the Minerals Resource Rent Tax on coal and iron ore mining profits.
Platts reported that over the weekend, Tony Abbott was elected as prime minister of Australia. He has promised to do away with the carbon tax on fugitive greenhouse gas emissions from coal mines, as well as Minerals Resource Rent Tax on coal and iron ore mining profits.
Platts reported that the Australian government plans to do away with its fixed carbon tax in 2014, a year earlier than originally planned. However, coal industry members believe the government has not gone far enough.
The Sydney Morning Herald reported that uranium stocks could be lifted by changes to Australian carbon tax.
As quoted in the market report:
Rising wages, falling resource prices and other challenges are gripping the country’s resource sector. But there are still opportunities to profit, says one investment expert.
Bloomberg reported that Obama’s proposed carbon tax would be made more likely with support from Exxon.
Platts reported that New South Wales will collect higher coal mining royalties to offset Australia’s carbon tax.
Bloomberg reported that a planned carbon tax in Australia may reduce the value of the country’s coal industry.
Zacks.com reports that stocks in mining companies fell after the Prime Minister of Australia said the government will require the nation’s 500 largest polluters to pay a carbon tax.