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From The Land Shares in Macquarie Group – the corporate flagship of Macquarie Bank and its raft of subsidiaries – are no longer a market favourite, but that doesn’t seem to faze investors in Macquarie Pastoral Fund. From a 2008 high of $66 in May, Macquarie Group shares have plunged to below $20 as the Continue Reading →
South Korea and Indonesia, two major Australia wheat customers are threatening to source high value wheat from other nations, potentially devastating the one bright spot in our economy.
The Shadow Minister for Agriculture, John Cobb, is calling on Prime Minister Kevin Rudd to personally intervene.
This follows the threat by the Korea Flours Mills Industrial Association, South Korea’s top wheat buyer, to stop buying Australian wheat.
“The association delivered a letter to the Australian Embassy which is reported to have stated ‘if delays in loading wheat on ships in Western Australia aren’t fixed, then South Korean importers would have no choice but to source wheat from elsewhere, lest they run out of the cereal’,” Mr Cobb said in a statement to the media.
“The Koreans are Australia’s third largest customer, we cannot afford to lose this market.
Visiting Washington last week, UK Climate Secretary, Ed Milibrand said that the changes wrought in US global warming policy had dramatically increased the likelihood of reaching agreement on a new international treaty at Copenhagen this year. “No-one wants to be the nation that wrecks a global deal [on climate change],” he told reporters in Washington. Continue Reading →
The project Home Again in New Orleans has resulted in the first energy efficient homes being certified under the United States Department of Energy Builder’s Challenge criteria. Backed by the Leonard and Louise Riggio Foundation with Green Coast Enterprises, the homes being built in the Gentilly neighbourhood are the first of 220,000 high performance homes projected for New Orleans by the Department of Energy. The homes are designed to use 40 percent less electricity than a traditional house.
The Science Minister of the United Kingdom, Lord Drayton said last week that he is shocked by the number of climate deniers in Britain’s industrial sector. “Industrialists are faced with a very difficult challenge, which is huge infrastructure investment in existing ways of doing business and very difficult global economic circumstances.” Given that many captains of industry quote theories that solar activity is responsible for global warming it appears that the scientists paid by the fossil fuel lobby to promote that belief are having some impact. Lord Dayton’s comments imply that this discredited theory appeals to those who have the greatest economic need to believe it. Lord Dayton said the government needs to invest in further education.
The impact of drought on the world’s rainforests is a huge positive feedback loop, releasing billions of tonnes of carbon dioxide that accelerate global warming increasing the likelihood of further drought. The journal Science last week published the results of a thirty year study of the Amazon rainforests that reveals in dry years the rainforest absorbs much less than its standard two billion tonnes of carbon dioxide. Over 40 institutions from 13 nations participated in the study which found that in the particularly harsh drought of 2005, the rainforest drastically reduced it’s growth rate and shed leaves, bark and other plant matter.