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> Australia's Fortescue is a major iron ore producer Basically: "Executive of regulated company doesn't want to be regulated". The incentives don't line up he
by ajross 3y ago
> Australia's Fortescue is a major iron ore producer
Basically: "Executive of regulated company doesn't want to be regulated". The incentives don't line up here to take this on faith (no reasoning was given, really, it's not a tech article) like the article does. He's not an expert witness, he's a player with an agenda.
That doesn't mean he's wrong. CCS is absolutely an unsolved problem and all emerging technologies involve risk. But all he's saying here is that CCS is going to impact his business, he doesn't like that, and he'd prefer government try to solve the problem by impacting someone else's business instead.
- cqqxo4zV46cp 3y agoAustralia’s regulatory environment is such that resources companies are nowhere near the point where they need to publicly kick up a fuss to influence government policy. They are more than capable of doing that in private. Twiggy is very much the ‘odd one out’ here in making any sort of public statement about…pretty much anything…ever.
- senectus1 3y ago> he's a player with an agenda. His agenda is REAL Zero Carbon. Yes he is a ruthless businessman and all businesses want to make profit. He has decided to turn his ruthlessness to improving the planet and the investors pockets at the same time. How else in a capitalist world is it going to get done? There is not magic wand to wave, there is just economics. He at least is putting his money where his mouth is, to the extent that he's ordered his company to stop claiming diesel tax credits. this alone is worth hundreds of millions a year. He's making Fortescue find green energy ways to do it better and cheaper. money where his mouth is.