Daily Archives: September 3, 2010

By Jane Rickards in Taipei

Taiwan’s Premier Wu Den-yih this week urged the island’s Environmental Protection Agency to draw up plans for a cap-and-trade system. At a time when the US and Australia have all but abandoned the idea, Taiwan’s preparations for a green house gas emissions trading system could eventually resemble the one used by the European Union.

But two big obstacles stand in the way of making the system work: local businesses, and Beijing.

Taiwan president Ma Ying-jeou has pledged to reduce Taiwan’s emissions levels to that of 2000 by 2025. Yet, while he is determined to introduce such a system and law makers from his ruling Kuomintang have a clear parliamentary majority, he may find it tough convincing local industries, which believe the move threatens their competitiveness, especially with respect to their rivals in neighbouring Asian nations. Read more

FT Energy Source

The FT’s Lex on taxing mining companies:

A 40 per cent resource tax was Australian prime minister Kevin Rudd’s undoing. Chilean president Sebastián Piñera, whose proposed tax hike is linked to the price of copper, Chile’s biggest export, should avoid that fate. Australia’s Henry tax was reviled by miners, including BHP Billiton, Rio Tinto and Xstrata and subsequently watered down. Yet Chile’s tax has evinced no such reaction from copper producers, including – unsurprisingly – state-owned Codelco, the world’s biggest producer. The differing reaction is best explained by the way the tax was proposed, even if the popular justifications are similar. Read more

Masa Serdarevic

Elsewhere this Friday:
- China sustains blunt ‘you first’ message on CO2
- Facebook loses friends over coal power
- Inuit Circumpolar Council: “We are tired of being told by Greenpeace what to do and what not to do”
- German military study warns of potential energy crisis
- Heat, not smart meters, hiked bills in California, report saysa Read more

Masa Serdarevic

- Oil rig explodes in Gulf of Mexico – FT
- Aviva hangs on but Spice heads for Cinven – FT
- Mariner blast may extend deep-water drilling ban – Bloomberg
- Statoil paves way for IPO of filling stations – FT
- Dozens of fires occur in gulf of Mexico each year, data show – WSJ
- BP tells US regulator of oil spill lessons – FT
- BP says limits on drilling imperil oil spill payouts – NYT
- Kosmos considers $5bn listing in UK or US – FT
- German coal imports to rise despite green lobbying – Reuters
- Petrobras looks to raise $25bn with share issue – FT Read more