The Chinese National Federation of Industries (CNFI, 全國工業總會) yesterday called on the government to reconsider its energy policy, saying that wind and solar energy are not suitable to Taiwan, as they would harm the local ecology.
The development of wind farms has created noise pollution and damaged coastlines, as has happened in Europe and the US, where authorities have opted to dismantle such facilities, CNFI chairman William Wong (王文淵) said on the sidelines of a public event in Taipei.
Wind farms, in particular, would threaten Taiwan’s coastline given the nation’s size, Wong said, adding that nuclear science and engineering professor at the Massachusetts Institute of Technology Jacopo Buongiorno shared the opinion.
Photo: Liao Chen-huei, Taipei Times
“All energy sources have strengths and weaknesses, and the government should also take the cost burden into consideration when making decisions,” he said, implying support for nuclear energy.
Taiwan is to hold a referendum on Dec. 18 on whether to continue construction of the Fourth Nuclear Power Plant in New Taipei City’s Gongliao District (貢寮), among other issues.
Wong said that he supports the global effort to cut carbon emissions and promotes policies to achieve that goal.
Dependence on oil imports is not realistic or favorable for Taiwan, where manufacturing plays a key role in driving the economy, at the cost of straining the environment, he said.
Policymakers have proposed introducing an emissions trading scheme or imposing carbon taxes on heavy polluters, such as cement, steel, glass and plastic product makers.
Wong voiced his objection to a suggestion that charges be set at US$10 per tonne of carbon emissions, far higher than Japan’s US$2.61 per tonne and Singapore’s US$3.71 per tonne.
Wong also heads Formosa Plastics Group (台塑集團), the nation’s largest industrial conglomerate, which includes Formosa Plastics Corp (台塑), Nan Ya Plastics Corp (南亞塑膠), Formosa Petrochemical Corp (台塑石化) and Formosa Chemicals & Fibre Corp (台灣化纖).
Taiwanese exporters cannot stay competitive on the world stage if they have to bear heavy carbon taxes, he said.
Wong also pressed the government to gradually lift border controls once it has controlled the COVID-19 outbreak, so cross-border business activity can resume and employees based abroad can return home for family reunions.
There had been zero to few locally transmitted cases in Taiwan in the past few weeks, and the first-dose vaccination rate has surpassed 75 percent, government data showed.
Japanese technology giant Softbank Group Corp said Tuesday it has sold its stake in Nvidia Corp, raising US$5.8 billion to pour into other investments. It also reported its profit nearly tripled in the first half of this fiscal year from a year earlier. Tokyo-based Softbank said it sold the stake in Silicon Vally-based Nvidia last month, a move that reflects its shift in focus to OpenAI, owner of the artificial intelligence (AI) chatbot ChatGPT. Softbank reported its profit in the April-to-September period soared to about 2.5 trillion yen (about US$13 billion). Its sales for the six month period rose 7.7 percent year-on-year
CRESTING WAVE: Companies are still buying in, but the shivers in the market could be the first signs that the AI wave has peaked and the collapse is upon the world Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday reported a new monthly record of NT$367.47 billion (US$11.85 billion) in consolidated sales for last month thanks to global demand for artificial intelligence (AI) applications. Last month’s figure represented 16.9 percent annual growth, the slowest pace since February last year. On a monthly basis, sales rose 11 percent. Cumulative sales in the first 10 months of the year grew 33.8 percent year-on-year to NT$3.13 trillion, a record for the same period in the company’s history. However, the slowing growth in monthly sales last month highlights uncertainty over the sustainability of the AI boom even as
AI BOOST: Next year, the cloud and networking product business is expected to remain a key revenue pillar for the company, Hon Hai chairman Young Liu said Manufacturing giant Hon Hai Precision Industry Co (鴻海精密) yesterday posted its best third-quarter profit in the company’s history, backed by strong demand for artificial intelligence (AI) servers. Net profit expanded 17 percent annually to NT$57.67 billion (US$1.86 billion) from NT$44.36 billion, the company said. On a quarterly basis, net profit soared 30 percent from NT$44.36 billion, it said. Hon Hai, which is Apple Inc’s primary iPhone assembler and makes servers powered by Nvidia Corp’s AI accelerators, said earnings per share expanded to NT$4.15 from NT$3.55 a year earlier and NT$3.19 in the second quarter. Gross margin improved to 6.35 percent,
FAULTs BELOW: Asia is particularly susceptible to anything unfortunate happening to the AI industry, with tech companies hugely responsible for its market strength The sudden slump in Asia’s technology shares last week has jolted investors, serving as a stark reminder that the world-beating rally in artificial intelligence (AI) and semiconductor stocks might be nearing a short-term crest. The region’s sharpest decline since April — triggered by a tech-led sell-off on Wall Street — has refocused attention on cracks beneath the surface: the rally’s narrow breadth, heavy reliance on retail traders, and growing uncertainty around the timing of US Federal Reserve interest-rate cuts. Last week’s “sell-off is a reminder that Asia’s market structure is just more vulnerable,” Saxo Markets chief investment strategist Charu Chanana said in