Albo’s new coal golden age begins

There is no more appropriate end to mankind than the developing new coal golden age. Futures are now priced at unimaginable prices for as far the eye can see:

The global cost curve tops out at around $120 per tonne:

Thus, the margins available for new and expanded mines are irresistible. This will result in coal being dug up everywhere and especially in Australia:

A proposed pipeline of coal mine projects in Australia, the world’s second-biggest exporter of the fuel, are threatening to lock in decades of new carbon emissions and challenge the country’s promises of bolder climate action.

The federal government is considering 29 applications for new mines and expansions which, if developed to their full capacity, would produce more than 250 million tons a year and contribute as much as 17 billion tons of carbon dioxide emissions, according to a study by Move Beyond Coal, a Sydney-based climate advocacy group. That total is equivalent to more than half of global emissions in 2021.

The future of the country’s $63 billion coal export industry is a dilemma for Prime Minister Anthony Albanese, who took office in May with a promise to improve a weak record on climate action. Though his government has tightened emissions reduction targets, Albanese has also signaled support for new gas and coal developments amid a global energy crisis that’s seen buyers scramble for the country’s exports and swelled profits for fossil-fuel producers.

There is no dilemma as far as I can see. The Albanese Government is utterly captured by mining. Listen to Bovver Bowen today:

Energy and Climate Change Minister Chris Bowen has effectively told the Greens he will not be held ransom by demands to turn a key emissions reduction mechanism into an anti-gas crusade, with the most material changes to be done by regulation.

In a move that challenges the minority party to take to the Senate a disallowance motion that would unwind measures aimed at cutting emissions, Mr Bowen said his reforms were “not designed as a mechanism to stop any new oil and gas”.

“This is a change which is done by regulation. By ‘legislative rule’, I’m told, is the more technically correct term. And that’s how I intend to do it,” said Chris Bowen, who was in Pittsburgh last week when he tested an electric Ford 150 Lightning truck. DFAT

Nor coal and exported emissions will mushroom.

In fact, Albo’s cowards are so terrified of the miners that not only will many of these mines get approved, they will do nothing to dislocate the local price of coal from global, meaning much higher prices for electricity (and everything else) for all Australians as far as the eye can see.

Thus Australians will see their climate, income, and wealth all disappear together as Albo and his coal robber barons leverage into the Apocalypse.