Opposition Leader Tony Abbott has downplayed revelations one of his backbenchers recently bought shares in a coal exploration company.

Central Queensland's Member for Flynn Ken O'Dowd bought 10,000 shares in East Energy Resources, which has coal deposits in central Queensland's Galilee Basin.

Prime Minister Julia Gillard says Mr O'Dowd has shown confidence in the coal mining sector, despite Mr Abbott predicting its demise under the carbon tax.

"I think it shows that the fear-mongering by the Opposition is one thing, but even they know it's wrong," she said.

"They know that there's a great future in energy in this country, a great future in coal in this country, and they're prepared to put their dollars in."

But Mr Abbott dismissed her argument today.

"Just about every Australian has a stake in the coal industry through his superannuation," he said.

"There'd hardly be a superannuation fund that doesn't have shares in the coal industry or shares in companies that have big stakes in the coal industry.

"All of us have stakes in the coal industry and that's why this is such a bad package."

Mr O'Dowd has defended his decision to buy shares in a coal exploration company despite his strong opposition to the carbon tax.

Climate Change Minister Greg Combet says that it is hypocritical, but Mr O'Dowd says he is simply supporting Queensland's coal industry.

"I think the coal industry has a good future if we can come to terms with this carbon tax," he said.

http://www.abc.net.au/news/2011-07-13/liberal-backbencher-coal-shares/2793184

 

"if we can come to terms with this carbon tax..." What a lot of rot. Everyone who has two brains would know that as the carbon tax and global warming takes hold of our future, the price of carbon is ONLY LIKELY TO GO UP... Because as we have to DIG LESS, the price, of whatever is dug up, is going to GO UP!... Wake up, gang!!!...

 

Almost two-thirds of Australia's economists say the government's carbon pricing package is good economic policy, while even more oppose the Coalition's plan.

A new study by the Economic Society of Australia, released today, found 60 per cent of economists believed the move to put a price on carbon from mid-2012 and to use the funds to benefit households, industry and clean energy was sound economic policy.

But one-quarter of the 140 economists surveyed disagreed with the assessment.

Almost 85 per cent said they did not think the Coalition's alternative "direct action'' plan was a sound economic proposal to reduce carbon emissions.

Read more: http://www.smh.com.au/business/economists-slam-abbotts-carbon-plans-20110713-1hd3d.html#ixzz1RySfcoIa

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Yes, without the unreserved support from the Murdoch press, Tony Abbott would have long sunk into the abyss of derision... The idiots are winning the war on intelligence...

Former Liberal leader Malcolm Turnbull has urged his party to stop listening to climate change deniers, calling on members to defend the science of climate change and pledge to reduce Australia's emissions.

Mr Turnbull lost the leadership to current Opposition Leader Tony Abbott over the issue of climate change.

Delivering the Virginia Chadwick memorial lecture in Sydney last night, he said a war was being waged on scientists by "those opposed to taking action to cut emissions, many because it does not suit their own financial interests".

He said those parties currently attacking the Labor Party for its carbon tax would also attack the Coalition if it tried to implement its plan to reduce emissions.

"If we form a government and then seek to meet that 5 per cent target [by 2020] through purchases of carbon offsets from farmers and payments to polluting industry to cut their emissions, the opponents of the science of climate change will be criticising that expenditure as pointless and wasteful with as much vehemence as they are currently denouncing Julia Gillard's carbon tax," he said.

Mr Turnbull said parties with vested interests were trying to muddy the waters on climate science to prolong the export of coal, comparing their actions to tobacco companies discrediting the connection between smoking and lung cancer.

And he said Australia's dependence on coal meant it should spend much more on carbon capture technology.

http://www.abc.net.au/news/2011-07-22/turnbull-climate-speech/2805536

 

DISMISS TOON AT TOP...