Imagine you’re toiling away in Rio Tinto’s PR department on St James’s Square, London. Mystifyingly, your chairman, Simon Thompson, just called for a carbon price of $US100 ($151.33) per tonne of CO2 (and Rio emitted 26.4 million of those last year, so kiss goodbye to $4.1 billion of last year’s underlying earnings) and the removal of the Fuel Tax Credit for Heavy Diesel Vehicles in Australia, under which Rio receives around $400 million annually. These are blatantly untenable positions from which you have been delicately retreating (while praying he won’t notice) for the past three weeks.
Loading...
Joe Aston is the founder of Rampart and the best-selling author of The Chairman’s Lounge: The inside story of how Qantas sold us out. From 2012 to 2023, Joe helmed The Australian Financial Review’s Rear Window column. Email Joe at hello@rampart.news