The amount of CO2 tax revenue on a few of the building industry key companies must have an effect later on prices. An already subduded construction industry needs this like a hole in the head!
Here is a short list of some building and associated companies that the construction industry rely on:
|Company||Total CO2||$23.00 per tonne|
|Tonnes||2012 to 2013|
|Adelaide Brighton Ltd||3,111,777||$71,570,871.00|
|Alcoa Australian Holdings Pty Ltd||18,038,269||$414,880,187.00|
|BlueScope Steel Limited2||12,937,246||$297,556,658.00|
|Building Supplies Group Holding Pty Ltd||296,994||$6,830,862.00|
|Cement Australia Holdings Pty Ltd||2,932,985||$67,458,655.00|
|Fletcher Building (Australia) Pty Ltd||425,743||$9,792,089.00|
|H.P.S Transport Pty Ltd||14,567,101||$335,043,323.00|
|Hanson Australia (Holdings) Proprietary Limited||313,446||$7,209,258.00|
|Holcim Participations (Australia) Pty Ltd.||294,403||$6,771,269.00|
|Hyne & Son Pty. Limited||73,256||$1,684,888.00|
|James Hardie Austgroup Pty Ltd||91,513||$2,104,799.00|
|Koppers Australia Pty Ltd||195,256||$4,490,888.00|
|Linfox Pty Ltd||273,882||$6,299,286.00|
|Sims Metal Management Limited||77,174||$1,775,002.00|
|Telstra Corporation Limited||1,414,262||$32,528,026.00|
So overall on just some of the industries in the top 500 dirty polluters - the construction industry could be up for some $1.6 billion payable as CO2 Tax. The above list includes transport, cement, insulation, steel, timber, telecommunications and is only a small number of companies that will be liable for this new CO2 Tax. Even hospitals, Universities, banks, airlines and councils are on the list.
This list - called the 2010-11 Greenhouse and energy information by registered corporation is available online. The total income for the government in the first year is well over $10 Billion. A PDF is available also HERE.
So the money collected is to aid Australia in reducing CO2 emmissions from these companies that are emitting them and so the result will be lower emmisions and lower temperatures. How much can $10 Billion reduce the temperature by?
What if the science is wrong and many of these industrys close as a result? Isn't it only done on models - not actual proof of data? Where are the models and the results?
Yet we can import coil steel from Asia or India without the CO2 Tax being charged on it. Who is going to lose in all of this?
- BlueScope Steel has given Port Kembla until end of 2013 to turn a profit! It employs currently some 5,000 staff - and is the threat closure - BlueScope could cash in the free Carbon Credits the government gave them for the remaining year and pick up $300 million plus - for closing down! Reward the manufacturers by paying them to close?
- Fletchers to announce job reductions in insulation, Laminex (SW) and Stramit shortly. Australia is not doing well currently for Fletchers - and they will restructure accordingly. Who's next.