Australia's carbon and mineral resources taxes come into effect today, with major polluters...

Australia's carbon and mineral resources taxes come into effect today, with major polluters facing a charge of A$23 ($23.55) per metric ton of so-called greenhouse gases they produce. Miners such as BHP (BHP) and Rio Tinto (RIO) will have to pay 30% of their profits from iron ore and coal. The government is optimistic about the revenues it will generate, but UBS is not so sure.

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Comments (8)
  • GaltMachine
    , contributor
    Comments (2080) | Send Message
    I wonder how much the temperature of the earth will be lowered by these taxes?
    1 Jul 2012, 11:12 AM Reply Like
  • eagle1003
    , contributor
    Comments (1905) | Send Message
    Good article. Commodities are much more responsive to the basic fundamentals of supply and demand, unlike stock markets which are driven by the emotions of fear and greed.
    1 Jul 2012, 11:13 AM Reply Like
  • minecanary
    , contributor
    Comments (1274) | Send Message
    Talk about killing the goose that lays the golden eggs. I didn't even know they had Democrats down there.
    1 Jul 2012, 11:16 AM Reply Like
  • Exquisite Decay
    , contributor
    Comments (289) | Send Message
    Down there, they have both the Labour party and the Green party.
    1 Jul 2012, 11:55 AM Reply Like
  • nvg
    , contributor
    Comments (204) | Send Message
    1 Jul 2012, 04:14 PM Reply Like
  • mweaver
    , contributor
    Comments (199) | Send Message
    the anticipated increase in tax revenue has already been
    allocated. what happens when said tax revenue fails to
    1 Jul 2012, 06:57 PM Reply Like
  • graham downunder
    , contributor
    Comments (246) | Send Message
    We have downunder some real idiots in charge but their support is down to 22% of the voting people, these stupid taxes will not beation in after the next election . They may not even last the next 12 months ,after all there are about 75 pollitician on that side of pollitics who if an election was held today about 50 of them would voted out. The old self presevation law comes to mind . Do not worry about it too much
    2 Jul 2012, 03:42 AM Reply Like
  • TwistTie
    , contributor
    Comments (2429) | Send Message
    Let's get rid of these stinking companies that create jobs and fuel our economy.


    If Australia used the tax money to irrigate the outback and plant white petunia seeds there, the earth would go into an ice age.
    2 Jul 2012, 11:16 AM Reply Like
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