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Matt Canavan is Telling Porkies Again

Everlution Newsletter

For Tuesday 11 August 2020 provided by (#letsfindsolutions)

News for green investors and organisations, stock watch & grant opportunities

Matt Canavan is Telling Porkies Again

During a recent episode of the ABC?s?Q+A, an audience member suggested the deck was stacked against clean energy, with the equivalent of US$29 billion a year handed out to subsidise ?fossil-fuel extraction and production of energy?.

The LNP senator Matt Canavan rejected the notion that the government subsidises ‘fossil-fuel extraction and production of energy’. Canavan draws a long bow.

Here’s what the research says. The?Q+A?audience member who questioned him cited figures from a?2019 International Monetary Fund (working paper)?which found fossil fuels in Australia received US$29 billion in subsidies in 2015.

Meanwhile, clean energy is getting about AUD$2.9 billion through the Renewable Energy Target program.

Fossil-fuel companies receive fuel tax credits for excise paid on fuel they use, tax breaks for exploration, and accelerated depreciation for capital spending, as well as state spending to encourage specific projects among other benefits.

There are many ways to define ?subsidisation?. The working paper relied on a very broad definition of ?subsidy?, counting among other things social and environmental costs typically not borne by fossil-fuel producers such as localised pollution, greenhouse gas emissions and traffic congestion.

Other definitions are narrower, focusing on direct or indirect transfers from governments to producers or consumers to encourage production or consumption.

Even on a narrower definition, Australian fossil fuel producers are to some degree ?subsidised? by federal and state governments, with a range of budget spending programs, tax concessions and other forms of assistance on offer.

Untangling the web of federal and state taxation and spending programs is difficult, as experts conceded. And while there is disagreement about whether all such benefits should be counted as subsidies, Canavan is bull shitting if he alleges there is ?no subsidisation?.

Grants/Subsidies/Funding ? Resources Directory for women entrepreneurs launched

The Department of Industry, Science, Energy and Resources (DISER) has partnered with the Commonwealth Scientific and Industrial Research Organisation (CSIRO) to develop an online directory that contains information and tools to support women entrepreneurs.

DISER undertook a nationwide consultation in 2019 which highlighted some key challenges experienced by women engaging in innovative entrepreneurship and growing start-ups. The top challenges shared included:

  1. access to funding and capital

  2. access to information, networks, mentors and support

  3. lack of confidence

Together with the Boosting Female Founders Initiative, the Expert FindHer Resources Directory was developed to address these challenges and support women in their entrepreneurial journey.

For more information go to:

CTI August specials month

As climate change events increase in number and ferocity, so does climate change risk for businesses and organisations.

To remove or control this risk, organisations need to be equipped with the right practical knowledge. Carbon Training International (CTI) offers courses that give clear direction to understand how to deal with climate change risk.

CTI courses include Strategic Carbon Management, Carbon Accounting, Applied Energy Efficiency, Reducing Fleet Emissions and Carbon Offsetting.

For all courses commencing in August, CTI is offering a 15% discount. You can easily enrol in one of CTI?s online webinar courses at Just choose your preferred course and course start date. Extra course dates can be arranged.

The good news: carbon emissions and business costs are linked. The more an organisation reduces its carbon emissions the more it reduces its costs.

Eco-tip for the day ? Try not to buy so much new stuff


Minimize?purchases of new products, especially overseas resource-intensive, heavy or heavily-packaged products.

Embrace a?minimalist lifestyle. Declutter your home and donate unneeded items to charity. Buy, borrow or rent?used?clothing, electronics, house decorations and furniture, cars and other products whenever possible.

Share watch ? Greenland Minerals (GGG:ASX)

Greenland Minerals is well-positioned to become a globally significant rare earths supplier. In summary:

  1. Australia-based Greenland Minerals has been operating in Greenland since 2007 and is currently developing the Kvanefjeld rare earth project in south west Greenland.

  2. Kvanefjeld Project is likely to be a low-cost, large-scale, long term supplier of products that could be revolutionary in efficient use of energy.

  3. Kvanefjeld has the only known bulk occurrence of steenstrupine globally ? a unique, non-refractory rare earth mineral conducive to simple, low-cost processing.

  4. Kvanefjeld?s advanced permitting status and strong foundation set for development success makes Greenland Minerals well-positioned for upcoming development window.

The graph shows the company?s trading performance over the last year.

Financial indicators

The VIX fear gauge down by 3.12 points since last Tuesday EST to 21.16. Amazingly, only another 1.16 points to go and it is in the safe zone.

The Dow Jones Industrial Average up since last Tuesday EST by 1,027.04 points or 3.85% to 27,791.44, the STOXX 600 up 4.60 points or 1.27% to 372.04 and the Shanghai Composite index down 23.79 points or 0.71% to 3,363.58.

Gold on 1,996.60. US 10-year Treasury Bonds on 0.602 and oil up to 42.61. Cryptos Bitcoin up 423.00 points since last Tuesday or 3.75% to 11,717.00.

ASX 200 up 85.60 points or 1.41% since last Tuesday to 6,138.70. The Aussie dollar on 71.86US cents.

Eco Market Spot Prices

LGC $42.50

STC $38.30

ESC $25.30

VEEC $34.25

ACCU $15.80

Sources:?RenewEconomy, demandmanager,? Reuters, SMH, Market Watch, Forbes

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