25 Apr '11, 6am

Asia to buoy Australia in clean energy shift

Asia to buoy Australia in clean energy shift

SYDNEY: Insatiable Asian demand for energy will ensure Australia's mining industry thrives despite a carbon tax, Prime Minister Julia Gillard said on Monday, defending her plan to tax greenhouse emissions. Gillard has pledged to charge polluters from July 2012 under a fixed-price scheme that would move to a full cap-and-trade model linked to international carbon markets within five years. But she is facing stiff opposition from her political rivals and the business community, with the powerful coal industry warning the plan will drive investment offshore and damage Australia's mining-powered economy. But Gillard, who is currently on a whirlwind tour of major trading partners China, Japan and South Korea, said intense Asian demand for energy resources would ensure the vital resources sector continued to boom. "Our region is hungry for energy," Gillard told The Australian ne...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific/vi...

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