Alan Kohler is one of Australia’s most experienced business commentators. Alan has been a trusted source of investment advice to Australians for many years, and in 2005 he founded Eureka Report - Australia’s #1 online investment report. Along with Robert Gottliebsen and Stephen Bartholomeusz, Alan also founded Business Spectator, the popular business news and commentary website. Alan is the regular finance presenter on the ABC News and producer of the popular nightly graph (or two).
Minister Ian Macfarlane has finally declared the government's hand on the Renewable Energy Target - it would be devastating for wind power and large-scale solar and, potentially, also commercial rooftop solar.
Labor's Bill Shorten has said dismissed the idea of slashing the RET to a 'real 20%' describing it as vandalism and unreal. Meanwhile Minister Hunt continues to talk about the target as being 20%, but there's a face saving opportunity for the Coalition to compromise.
Speculation is rife aluminium has won itself a full exemption from the RET - up from 70% - and that means a reduced target. But is that right, and why are we exempting so many other industries at the expense of other consumers?