| Sourced From Businessspectator.com.au |
The closer we get to the end-game on the debate over the proposed emissions trading scheme, the deeper we slip into the theatre of the absurd.
The latest, we hear, is that the collapse of Australias leading solar energy company, Solar Systems, is to be blamed on the structure of the ETS, and the failure to provide adequate compensation to coal-fired polluters.
Solar Systems, if you remember, called in the receivers last month after failing in an 18 month search for new funds that began just two days after the collapse of Lehman Bros. TRUenergy, wrote down the value of its stake in its entirety, although its funding support for a 154Mw solar plant remains in place. It was a balance sheet entry, no matter how unfortunate the timing, and not even TRUenergy, a trenchant critic of the ETS, claimed it to be related to the structure of scheme, a company spokesman reaffirmed this week.
No matter, Greg Hunt, the oppositions spokesman for climate change, thinks differently. In an extraordinary performance on ABCs Lateline program on Monday, Hunt began by claiming rising energy prices are not good for the renewable energy industry.
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