Carbon Economy

22

Australian carbon emissions keep growing

Via the ABC: Australia’s greenhouse gas emissions have reached record highs in many sectors, continuing an upward trend that began in 2013, according to official Government figures released on Thursday. The Federal Government’s Quarterly Update of the National Greenhouse Gas Inventory for the three months to December 2018 shows emissions increased by 0.8 per cent

14

Hyenas rip at the carcass of Australian energy

The Australian energy carcass is being torn apart by hyenas today. Leading off are the dying manufacturers: Australia’s big energy users will hold urgent talks with the federal government requesting emergency gas market measures to ensure heavy industry can stay afloat amid opposition from top producers to government intervention in the sector. The country’s largest

35

The Guardian triggers largest mass extinction since Mesozoic

Is it an asteroid? Is it a plague? No, it’s The Guardian Australia: Australia’s major political parties are facing calls to explain what role they will play in securing a global deal to save nature after a major scientific report warned a million species across the world face extinction. The assessment by an international scientific panel

12

The Economist: Australia facing “severe water shortage” as population explodes

By Leith van Onselen The Economist ran an interesting article on how overpopulation and climate change are straining the world’s water supplies, with Australia likely to experience a “severe water shortage” by mid-century: Last year Cape Town in South Africa averted only narrowly the unwanted prize for being the first of the world’s big cities

3

Too many climate McKibbins

There’s one at Domain: The key economist cited in the election row on climate change has doused fears of a major blow to growth from deeper cuts to greenhouse gas emissions, saying the impact would be a “small fraction” of the economy by 2030. Australian National University Professor Warwick McKibbin said federal government policy to

9

Will China become a giant Singapore? No

Via the FT comes Martin Wolf: Will China emerge as a high-income country still ruled by a communist party state? If China were to achieve this, it would transform a world in which all large, high-income countries are currently democratic. It would reshape the global balance of power, not just economically and militarily, but also

39

EV debate shorts out

Crikey sums it up: Taylor far from electrifying. There was considerable fun to be had on the weekend with the government’s and News Corp’s attempts to attack Labor’s electric car plan. Bill Shorten’s claim that electric cars could be charged in 10 minutes was seized on by News Corp to attack him, while Scott Morrison accused Shorten of wanting

41

Gas cartel will destroy EV rollout

Via The Australian: Energy Networks Australia warned in a submission to the Senate’s recent electric vehicle inquiry that growing numbers of EVs, combined with the nation’s flat energy pricing structure, could worsen energy peaks and exceed the capacity of low-voltage networks. “Australia’s distribution networks were not designed for any significant uptake of electric ­vehicles and

15

AEMO declares 2023 gas shortage as cartel pillages right now

God save me from the AEMO: The Australian Energy Market Operator’s (AEMO) latest analysis finds that supply from existing and committed gas developments is expected to provide sufficient resources to meet demand in southern and south-eastern Australia until 2023. However, additional sources of gas supply are required to address a forecast gap in meeting long-term

27

How to end the carbon wars overnight

Via the AFR: The centrepiece of Labor’s plan to reduce carbon emissions – a baseline and credit scheme for the nation’s top 250 emitters – appears doomed with the Coalition opposed to the entire policy and the Greens hostile towards several elements, including letting companies offset emissions by buying international carbon permits. If Labor wins

9

Will Australia allow Shell to eat it?

Because that is its plan. The ACCC confirmed yesterday that the gas cartel is still taking the major piss, via The Australian: Gas prices on Australia’s east coast are set to fall this winter, potentially providing some relief to long-suffering manufacturers and heavy industry, according to data from the competition watchdog. Domestic gas prices may

95

Coal: Game over

The RBA was out last night discussing climate change and posted the following chart of energy costs which confirms our view that it is game over for coal:   These numbers are largely in line with our numbers on electricity costs from various sources and since it has been over a year since I last

4

Why is the RBA talking about climate change?

Via Damien Boey at Credit Suisse: Overnight, RBA Deputy Governor Debelle delivered a speech about climate change, and its implications for economic policy. Some key points are as follows: Climate change affects the agricultural sector of the economy. While agriculture is becoming less significant from a GDP perspective, food prices are still a major driver

30

No choice: Labor crushes gas price or is stillborn

The reason why is obvious at The Australian: Coal-fired power generation would fall by 60 per cent within the next decade to meet Labor’s 45 per cent emissions-reduction target, leading to the likely closure of more than half the existing east coast plants, according to ­independent expert modelling. The closures would bring an end to

30

Glencore bankrolls coal propaganda

No real surprise. Via The Guardian: The multinational mining giant Glencore spent millions bankrolling a secret, globally coordinated campaign to prop up coal demand by undermining environmental activists, influencing politicians and spreading sophisticated pro-coal messaging on social media. An investigation by Guardian Australia can reveal the covert campaign, dubbed “Project Caesar”, was orchestrated by world-renowned political operatives

33

Lame duck Morrison throws $2b climate change hail mary

By Leith van Onselen The man that once waved a lump of coal around parliament has announced a $2 billion Climate Solutions Fund to reduce Australia’s emissions. From The ABC: Prime Minister Scott Morrison will today launch a new pre-election climate change policy, pledging $2 billion for projects to bring down Australia’s emissions. The Climate

16

Global clean energy investment falls in 2018

by Chris Becker While the headline looks bad at first glance, there’s still a lot of good news for renewable energy investors and energy consumers with the Bloomberg New Energy Finance annual report out this week. Global clean energy investment totaled $332.1 billion in 2018, down 8% on 2017; last year was the fifth in

6

Population ponzi means Australia can’t meet emissions targets

By Leith van Onselen The impossibility of Australia meeting its emissions target has been laid bare by lecturers at Deakin University. From The Conversation: In signing the Paris Climate Agreement, the Australian government committed to a global goal of zero net emissions by 2050. Australia’s promised reductions to 2030, on a per person and emissions

44

BOM: 2018 was third hottest year on record

by Chris Becker Aussie Aussie Aussie! Another record for the ages with the Bureau of Meteorology revealing that 2018 was the third hottest year on record, with global temperatures in 2018 to be the fourth-warmest year on record since 1880 (2015-2017 being the warmest): Drought prevention and relief, plus water security issues have never been more important, but

5

Gas cartel horrified by transparency

Via the AFR: Gas producers are privately voicing reservations about proposals that would require them to report on sales contracts, reserves and export prices, worried that the measures intended to increase transparency in the under-pressure east coast market could put them at a commercial disadvantage. The recommendations, released by the national competition regulator and the

93

Norway goes electric as Australia remains ICE bound

by Chris Becker Those crazy Norwegians! Saving money from a sovereign wealth fund and then investing in their future with huge incentives to electrify the transportation grid. It’s not like they spend over $42 billion a year importing oil to power their cars like Australia – which has less than two weeks of strategic reserve

68

Australia blows Paris carbon targets sky high

Released into the holidays as usual: Australia has a target of reducing emissions to 26 to 28 per cent below 2005 levels in 2030. The current estimate is that cumulative emissions reductions of 695 Mt CO2-e (26 per cent reduction) to 762 Mt CO2-e (28 per cent reduction) will be needed over the period 2021–2030

13

Japan screams laughter at huge discount to Aussies on their own gas

Yes, it’s gas cartel gouge time once again. After the treasonous ACCC did nothing again yesterday on the gas market, the cartel is making hay charging Aussies $11Gj spot prices across the eastern seaboard while Asian prices are in the $9Gjs. Meanwhile, according to the disastrous ACCC, contract prices are: …offered and agreed in mid-2018