Adani should bow out from Carmichael coal mine

A long list of banks and other funding sources have announced they won’t finance the project. It gets worse. The Carmichael mine is part of a larger plan to develop five megamines in the Galilee Basin. The economics of the rail line and port expansion needed to transport coal from Carmichael depend on the assumption that the costs will be shared across these mines. But these projects are in far worse straits than Adani’s…Adani should admit that this economically and environmentally disastrous project will never go ahead, and focus its attention completely on the renewable energy technologies in which it is already a major player.

Note – check original By Prof John Quiggin, then ask yourself, again, why is anybody still talking about this fantasy?

>more> TheConversation

About groundswellbasscoast

This is on behalf of local climate change group. Material is selected by Bernie McComb and does not necessarily represent opinion of whole group.
This entry was posted in Events local and tagged , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s