...MPF53 FINANCE “Review the proposed Carbon Pollution Reduction Scheme (CPRS) in Australia and critique its impact on financial management decisions” BY Xiao Nie Yang Song Date: 20th April 2010 Introduction In today’s society, all countries in the world will experience climate change in coming decades because of increasing carbon pollution (climate change 2007). In order to reduce the carbon pollution, ETS and CPRS will be proposed in the world wide and Australia. This essay is to focus on revising the proposed carbon pollution reduction scheme and point out its impact on financial management decision. In the first place, there is a brief summary about the CPRS scheme in detail. In the second place, there is an analysis about major and minor financial management decisions. In the final place, the impacts of CPRS on its financial management decision will be raised. All in all, the conclusion is a summary of the aim of the essay and how to achieve this aim. The CPRS scheme The emissions trading scheme (ETS) in Australia is called Carbon Pollution Reduction Scheme (CPRS). Australia is very vulnerable to the effects of climate change. They recognize that human activity is causing the climate change and also Australia is one of the biggest polluters on a per capita basis. The CPRS will help reduce Australia’s carbon pollution by putting a price on carbon for the first time in Australia’s history. The carbon price means that goods that...
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...and doctors and nurses and Red Cross workers and soldiers with stretchers from Scott Field. Mine res- cue teams came, and a federal rescue unit, experts bur- dened with masks and oxygen tanks and other awkward paraphernalia of disaster. . . . One hundred and eleven men were killed in that explosion. Killed needlessly, for almost everybody concerned had known for months, even years, that the mine was dangerous. Yet nobody had done any- thing effective about it. Why not? Let us examine the background of the explosion. Let us study the mine and the miners, Joe Bryant and Bill Rowekamp and some others, and also the numerous people who might have saved the miners’ lives but did not. The miners had appealed in various directions for help but got none, not from their state government nor their federal government nor their employer nor their own union. (In threading the maze of official- dom we must bear in mind four agencies in author- ity: The State of Illinois, the United States Government, the Centralia Coal Company, and the United Mine Workers of America, that is, the UMWA of John L. Lewis.) Let us seek to fix responsibility for the disaster. . . . The Centralia Mine No. 5 was opened two miles south of Centralia in 1907. Because of its age, its maze of underground workings is extensive, covering per- haps six square miles, but it is regarded as a medium- small mine since it...
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...Definition of coal: • caustobiolitică a sedimentary rock that comes from vegetal incarbonizarea. • the transformation is slow in the absence of atmospheric oxygen at elevated pressures and temperatures that depend on the depth at which the plant is accumulation. Classification of coal: Coal (7000-9000 kcal / kg): anthracite, coal Quality coal (2600-5000 kcal / kg) brown coal, lignite, peat Historically the use of coal Late nineteenth century - coal had a role in the development of industry (coal century). Widely used as fuel for steam engine - James Watt (creator of the first motor efficiency). The widespread use of coal: Getting coke resulting from the high temperature carbonization process, the distillation of coal in the absence of oxygen. The coke used as fuel in the steel (for obtaining one ton of steel requires 600 kg coke). The material or by-product in the manufacture of iron, calcium carbide and other industrial thereof. Fuel for power generation and chemicals. construction materials fuel for power stations and cement factories (3/4 of the demand for coal) Chemical Industry Getting paints, plastics, synthetic fibers, fertilizers, etc.. Pharmaceutical industry. Domestic heating fuel Synthetic Fuel Coal Liquefaction Evaluation of coal resources: 1913 - International Geological Congress in Turin (7100 billion tons) - North America 68% -...
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...Robert Hoefer Professor Arenson English 101 17 July 2012 Common Ground Essay The first commercial coal mine in America was started in the 1748. ("History of US Coal Use.") The first commercial oil well in the United States was drilled in 1859. (Yergin, 7) These two fossil fuels were the power behind the American Industrial Revolution, and wealth behind Edward Berwind and John Rockefeller(Brinkley, 435), respectively, that continue to provide power and fuel in present day society. Natural gas is another fossil fuel that helps to provide for the needs of today. Oil, coal, and gas companies tout new technologies that make their products cleaner and safer for the environment. Opponents of fossil fuels say there is no way to burn them cleanly. Proponents for fossil fuels believe there are plenty of reserves to keep America running on fossil fuels for years to come. Advocates for newer technologies, “green” technologies, such as solar power, geothermal energy, and biofuels claim that the time to move on from these fossil fuels has arrived. The new energy sources claim to be renewable so as to never run out. (E.g., the sun would have to supernova for solar power to run out.) They believe the point of “Peak Oil”- the point at which worldwide oil production begins to decline, has already passed and the country will need their new technologies to keep pace during the changing of the energy guard. There are many lenses through which to look at the use of all these energy sources...
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...be destroyed to make place for coal mining. Being a member of the local forest conservation society, it would be difficult to ignore the impacts on wildlife. However the managing director, Tony Haggarty said that stringent environmental conditions have been applied by the commission and that it is one of the best coal developments in the world (Go ahead for one of world’s largest coal mines 2012). The project would not be accepted because of reasons which will be mentioned later on. The essay will mention about the three ethics and concentrate more on the selected ethic which is moral rights ethic. Moral rights is an ethical decision that best maintains and protects the fundamental rights and privileges (freedom, life, safety, privacy, free speech, freedom of conscience) of the people affected by it(Lecture 3,Week3). In the case of the construction project, people are free to show that they are against the constructions as this will worsen the environment. Bradshaw, J.A Corey et al point out that coal exports are Australia’s biggest contribution to climate change and that Australians are suffering its impacts now (Let’s talk about coal). Thus, the environmental aspects of the project should be taken into consideration as in justice ethic. Justice is an ethical decision that distributes benefits and harms among stakeholders in a fair, equitable or impartial way (Three ethic model,pg 148). In the case of the construction project, coal types which will be obtained will...
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...concerned about. In the case study involving Freeport-McMoran strip mining, the environment is the main concern. The environmental concern is the central ethical issue to be resolved because in the long term, it starts to influence everyone around the world negatively. If one company is allowed to destroy mountains and the environment and make millions, more companies will likely jump on that same ship. When more and more companies start to make money at the expense of the environment, more people become in the same situation as the Amungme and Kamoro. On top of that, our food sources will dwindle and our water contaminated. If our environment is continually destroyed, other resources will be destroyed too. Ex. Copper may be abundant, but with all the copper mining going on, lumber is now scarce. My solution to this problem would be by following Eduardo Nebot, a robotics specialist at the University of Sydney. . His paper mainly consists of a safe alternative to strip mining using advanced robotic technology, which would be a feasible, safer and cost effective strategy. What he also found out was that --mining deposits are becoming increasing smaller, and destroying the surroundings for a small amount would waste time and not justify the consequences. His robotics could identify how big or small the deposits are. Strip mining can have sever effects on everything around the site. According to the Strip Mining Handbook written by Professor Mark Squillace strip mining “can severely...
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...Essay 1 What Goad means by White Niggers have feeling too is that every ethnic group and rich whites feel it’s okay to pick on poor white rural white people. What he does is compare the word “Redneck” with the word “Nigger” in how they are both used in today’s society through news stories. The double standard comes into play because one word is ok to use to describe poor white trash “Redneck” while the other word used to describe poor black trash “Nigger” is unacceptable. He uses the dictionary as an example of the double standard for both words. The word “Nigger” has a one word definition as “negro” with an apologetic disclaimer basically saying that it “is only acceptably used in Black English and very taboo to use because of its link with slavery” (Goad, 21). While the term “Redneck” is defined “as a poor, white, rural southerner often, specif., often one is regarded as ignorant, bigoted, violent, etc…” (Goad, 21) Essay 2 Goad traces back class conflict to Preroman times when people were hunter gathers who either traveled alone or in small groups. When the alone people ran into these small groups they were prey just as the smaller groups were prey for larger ones. By necessity these groups became loosely netted communities of clans who stuck together or were taken over by invaders. These groups were usually absorbed into the centralized agriculture slave states by force. The occurred when the men who wanted to remain outside the city slave states who hunted alone...
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...to sex, but sex is biological differences between men and women while gender refers to cultural and social differences between men and women. Masculinity is a part of gender, it is a set of qualities, characteristics or roles generally considered typical of a man. There are many different kinds of masculinities, each one can represent a group of man. This essay will critically analyze the characters of masculinities in light of gender relations, and use the film, Billy Elliot to support the argument. In this film, Billy’s father, Jackie is a traditional man. He had traditional thought of the society and could not accept some new ideas. He thought a real man should do football or boxing rather than ballet, so he objected Billy to learn ballet. (Billy Elliot, 2000). Not Billy’s father, but also his brother Tony, has the traditional thought as his father. The important reason is that both Tony and Jackie are miners, they should take responsibility of the family. They had heavy pressure from their works, so they became more aggressive and are more close to macho. Coal-mining is essentially based on physical strength, coal-mining community can be seen as patriarchal society. So they had power to make decisions in family. Patriarchy is a social system in which the male is the primary authority figure central to social organization and father hold authority over women and children (Wikipedia, n.d.). Father can do the choices for their children, such as education and work. Obviously...
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...multinational mining and petroleum company. BHP started its operation in Melbourne in 1885 which is one of Australia’s largest and oldest companies, and it focused on development, discovery, production, and marketing of natural resources. In value-added flat steel products, BHP was also a market leader. In 1860, Billiton was established in The Hague, Netherlands. Billiton developed a growing and substantial copper portfolio. It was also a global leader in the metals and mining sector, and a major producer of aluminum and alumina, steaming coal, nickel, and titanium, chrome and manganese ores and alloys. BHP Ltd of Australia and Billion Plc of UK established merger in 2001, and the result was the dual listed company (DLC). BHP Billion becomes one of the world’s largest mining and Petroleum Company. It expands its business in twenty countries, and its major commodities are iron ore, metallurgical coal, energy coal, conventional and unconventional oil and gas, copper, aluminum, manganese, uranium, nickel, and silver. This essay will deeply analysis the effects of BHP Billiton’s sustainability practice on the ownership advantages. It also explains the expansion strategy of BHP Billiton, which is Joint venture and mergers and acquisitions. At last, it will show some risks which are created by the macro and external factors in the mining industry and give some strategies to reduce these risks. Sustainability Practice to Improve O Advantages in the Mining Sector The mining industry...
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...closet to where he lived. Scanlon attended school at night, to get his degree in engineering, and worked for the Centralia Oil Company for 13 consecutive years as a mining inspector (Stillman, 2010). The Centralia coal mine explosion was an incident, that shouldn’t have transpired in the first place. This didn’t occur overnight, it was some years prior before the explosion had happened. Both Scanlon and other inspectors were sending negative reports about the condition of this mine. As a result, these reports were being disregarded. By both state and federal agencies that were responsible for taking care of these mines. They were forewarned before the Centralia coal mine explosion that had transpired on March 25, 1947 (Fledge, 2009), as a person assigned to the position of an inspector, some of Scanlon’s duties include the following: He is responsible for recommending to officials and workmen about different alternatives in regards to safety in all different stages; He is also in charge of the closure and the reopening of mines; and also in control of leading in any cleanup efforts, after a fire or mine explosion (Duties and authority of mine inspectors n.d), Thesis Statement: This essay, will discuss how coal mine explosions, can affect both the environment and the public. In an effort to support the conclusion, this essay will discuss What are the four logistical alternatives...
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...Essay on Native American Environmental Issues by David R. Lewis This essay is taken from Native America in the Twentieth Century: An Encyclopedia, edited by Mary B. Davis and published in 1994 by Garland Publishers of New York. The encyclopedia includes additional essays on mining, natural resource management, hunting and fishing rights, and economic development. It's a highly recommended resource. Reprinted without permission for educational purposes. Traditionally Native Americans have had an immediate and reciprocal relationship with their natural environments. At contact, they lived in relatively small groups close to the earth. They defined themselves by the land and sacred places, and recognized a unity in their physical and spiritual universe. Their cosmologies connected them with all animate and inanimate beings. Indians moved in a sentient world, managing its bounty and diversity carefully lest they upset the spirit "bosses," who balanced and endowed that world. They acknowledged the power of Mother Earth and the mutual obligation between hunter and hunted as coequals. Indians celebrated the earth's annual rebirth and offered thanks for her first fruits. They ritually addressed and prepared the animals they killed, the agricultural fields they tended, and the vegetal and mineral materials they processed. They used song and ritual speech to modify their world, while physically transforming that landscape with fire and water, brawn and brain. They did not passively...
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...Global warming has now become a very captivating breathtaking topic to all human ears although the more it is talked about; the less is done to prevent it from happening .It has been described as the greatest threat facing humanity. Many agree that the earth is warming, but they are uncertain of both the causes and consequences. Nonetheless, it cannot be wholly avoided but it can be lessened by taking diverse measures. This essence of this essay is to describe what global warming is, firstly by pin pointing different definitions of global warming, articulating its causes and effects and further analyze measures to curb global warming. Secondly the essay will demonstrate further on how the knowledge of demography contributes to the understanding of global warming by giving relevant examples across the globe. Finally, the essay will draw a conclusion depending on the context. Global warming is the increase in the temperature of the earth’s atmosphere caused by the greenhouse effect. Kapargam, (1999:218); defined global warming as the condition that is caused by the accumulation of greenhouse gasses in the atmosphere that causes a slow but sustained increase in the global average temperature over a long period of time. According to www.WeatherQuestions.com; global warming is the gradual warming of global-average temperatures due to the slowly increasing concentrations of man-made atmospheric greenhouse gases, primarily carbon dioxide. But global warming can alternatively refer to...
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... BHP Billiton Limited Introduction: BHP Billiton is world’s largest diversified natural resources company. The company was created by the merger of two companies, BHP Ltd (An Australian mining company) and Billiton PLC (An UK based Company). BHP Billiton has created long time share holder value through the discovery, acquisition and development of natural resources. In the last few years, BHP Billiton has faced some governance challenges in conducting their business around the world. For overcoming those challenges several strategic drivers has been taken by BHP Billiton. This report mainly focused on external and internal environment, strength and weakness, Governance challenges and strategic drivers of BHP Billiton. Overview of BHP Billiton: BHP Billiton is a Dual Listed Company (DLC) comprising BHP Billiton Limited and BHP Billiton Plc. BHP Billiton was created through the DLC merger of BHP Limited (now BHP Billiton Limited) and Billiton Plc (now BHP Billiton Plc), which was concluded on 29 June 2001. BHP Billiton is a leading global resources company. The purpose is to create long-term shareholder value through the discovery, acquisition, development and marketing of natural resources. BHP Billiton are among the world’s largest producers of major commodities, including aluminum, coal, copper, iron ore, manganese, nickel, silver and uranium, and have substantial interests in oil and gas. The headquarters of BHP Billiton Limited, and the global headquarters of the combined...
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...classified information to the public. After that, Manning was eventually charged with 22 offenses, he was convicted of 17 of them. Now he is serving his sentence at prison of the U.S. Disciplinary Barracks. The reaction of people to Manning’s arrest and sentence was mixed. “the sentencing of Bradley Manning is a tragedy not just for him, but for all Americans as well”. Drew Christiansen said. It’s representing a lot of people’s perspective. Although Bradley Manning was sentenced, it didn’t mean that he did something wrong, it actually highlights a disharmonious law system in America and a lack of justice. First, this essay will discuss the matter that Bradley Manning did right or wrong. Nest, it analyses what this sentence reveals about law systems in America. In the end, it will think about how this event has led to social and law system in America. A war has never been about gentle activity and friendly communication. It has always included serious fights blood, even dead. But, this cannot be a reason to kill the people who are innocent and harmless. In order to be a good member of a troop, must respect and obey the rules of human rights. We should protect the innocent who doesn’t participate the war. Because today, the meaning of war is not to slaughter, massacre, even not territorial expansion and plundering the wealth (Morning Call 2014). We cannot treat war as we did hundreds years ago. War’s meaning in today is protect people who not treat as human right. Therefore if innocent...
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...ABSTRACT In the recent years China has been seen as a major competition in the international economic market. It has been replacing many western states as the top trading and investment partner in many African states, and for decades it has been one of Africa’s best friends, helping in the decolonization process and building key infrastructure projects on the continent. China has been providing many African governments with cheap loans in exchange for securing their means of accumulating natural resources based on the principle of non-intervention and respect for sovereignty, which gives no strings attached. For more than a decade, diplomatic relations between China and South Africa have been marked a great growing relationship between both states. From a period of no official ties to limited interaction between the South African and Chinese Governments, the relationship has subsequently developed to become one of the closest between African and Asian states. Growing economic engagement, which underpins the warm ties between the two states, has put South Africa amongst China’s top three trading partners on the continent. Moreover, China is an emerging market economy; with a fast track of being the next economic rising superpower in the world and its current relations between it and Africa continue to grow fast with foreign direct investment increasing thirty-fold between 2003 and 2011, from US$491m to US$14.7 billion. In 2012, China pledged US$20 billion of loans to Africa over...
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