The Bullroarer - Thursday 30th October 2008

National Business Review NZ - Australia set to join NZ in recession – report

Just last week JPMorgan released a downgraded GDP growth forecast for Australia.

However, despite an expected surge in unemployment and a decline in commodity prices for coal and oil, the report predicted Australia would avoid a recession, “just.”

But the latest report says Australia will in fact have a recession, with anticipated GDP falls in this quarter and the first quarter of 2009.

The ABC disagrees:
ABC - Australia on track to avoid recession: RBA deputy

SMH - Shale oil mining banned in Whitsundays

The Queensland government has officially banned shale oil mining around a popular tourism region for the next two decades.

Some links from Qld, with thanks to Ben Bastion:
Courier Mail - Emissions trading will not hurt economy, new figures reveal

ECONOMIC modelling to be released today shows emissions trading will not hurt industry or the economy, the Government said.

The long-awaited Treasury data, one of the biggest economic modelling exercises ever done in Australia, focuses on what it will cost to tackle climate change.

Brisbane Times - US asks Australia to supply oil to North Korea

WASHINGTON - The United States has approached Australia seeking fuel oil for North Korea after Japan refused, raising fears that nuclear disarmament talks could stall.

Brisbane Times - Pollute-and-pay system to encourage green business

The Queensland government will introduce a new polluter-pays model for industry that it says will provide an incentive for businesses to be clean and green.


NZ Herald - Oil imports push deficit to almost $5 billion

New Zealand's trade accounts sank deeper into the red last month.

Imports exceeded exports by $1.18 billion, the largest monthly deficit for nearly three years.

The Australian - AGL sells PNG oil and gas assets

AGL Energy said it has struck a deal to sell its assets in Papua New Guinea for about $1.1 billion after the closing out of all hedges.

NZ Herald - Business decries govt policies on emissions levels

The verdict of the boardroom on the Government's emissions trading scheme is a big thumbs-down.

The Canberra Times - Fears methane spike will fuel warming

The methane spike, which began in mid-2006, appears to be generated by the rapid melting of ice across the Arctic circle, driven by hotter than average summer temperatures.

''It's not good news for future global warming. It's a big jump and we don't know if it will continue,'' CSIRO senior climate scientist Paul Fraser said. - Transport Corridor Plan a Good Balanced Outcome

The Wellington Regional Chamber of Commerce has welcomed the approval of the Ngauranga to Airport Corridor Plan by the Wellington Regional Transport Committee saying it will improve the efficient transport of people and freight across Wellington

“A mix of investment in roads, tunnels and public transport is necessary to future-proof transport in the region and the proposed plan is a good balanced outcome,” Mr Finny concluded.

NZ Herald - Carpark firm wants bus users back in their cars

Bus and ferry commuters are being offered free inner-city parking for at least a month to tempt them to bring their cars into the city again.

As higher fuel prices and tighter household budgets push more Aucklanders on to public transport, one inner-city parking firm is fighting back.

ABC - Unions and conservationists call for "green collar" jobs

Unions and conservationists in Australia are joining forces to pressure the federal government to create more of what they call "green collar" jobs to help the Australian economy cope with the world economic crisis.

ABC - Coal, climate and hidden costs.

China wants rich countries like Australia to contribute one per cent of their economic worth to fight global warming.

ABC - Uranium mine will get first hot rock energy

South Australia's mines will be the first to benefit from geothermal energy.

Petratherm expects to start drilling next May to begin the process of generating power from hot rocks.

Initially, all the power made will be sold to Beverly uranium mine, an agreement that Petratherms managing director Terry Callis is mutually beneficial.

And finally, I'd like to repeat a link that Gav put up yesterday. Chris Martenson makes some interesting points...
Eclipse Now - New peak oil visionary leads the way

Chris Martenson's "Crash Course" is fast becoming a rallying point

"JPMorgan forecasts a recession for Australia"
Have to ask what is their track record on forecasting performance of US sub-prime loans? I think I will put money on the RBA's forecast.