RUSAL ROULETTE: Russian Billionaire Says Carbon Tax Will Send Jobs Offshore

This Russian won’t stay quiet any longer.

Image: Cancan Chu/Getty

Russian aluminium billionaire Oleg Deripaska delivers one of the blunter assessments of the Federal Government’s carbon tax from anyone in the resources sector in an interview in The Australian today.

Deripaska says the tax will lead to jobs ending up going overseas because of uncertainty around energy prices.

Rusal currently has a 20 per cent stake in Queensland Alumina (QAL), which is managed by mining giant Rio Tinto.

In an interview with The Australian published this morning, Deripaska said the carbon tax was doling out unfair punishment to various Australian businesses.

“Our particular concern is that the carbon tax is designed to shift facilities such as [Queensland Alumina] to a higher-cost energy source such as gas, where there is no long-term certainty on supply. This could lead to local processing and jobs moving overseas,” Deripaska said.

The Russian added a thinly-veiled accusation that Australia is being hypocritical when it comes to the carbon tax by propping up coal-fired power stations at a state-level while enforcing a carbon tax penalising the use of coal at a Federal level.

Combined with the high foreign exchange rate currently affecting exporters, Deripaska says that Australia’s position as a competitive place to do business is gradually slipping through the government’s hands.

Elsewhere, the Herald Sun reports today that the carbon tax is costing Victorian hospitals an extra $6.7 million per year in energy costs.

Follow Business Insider Australia on Facebook and Twitter

NOW WATCH: Briefing videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.