Carbon Economy

30

Labor to roll out community batteries

Readers will know that the MB view of the uptake of battery power to supplant traditional baseload output reliant on fossil fuels is inevitable.  Now, Labor has seen the light with an actual policy from Albo today: Labor will spend $200m on community batteries. Each is about the size of a four-wheel drive. They will be

6

Ten principles for green power investment

Via Wood Mackenzie: We recommend the following action items for capital allocators: • With roughly US$800 billion in annual spend, it’s a growth story. Apply strict discipline when it comes to risk-return expectations. Be conservative on the terminal value assumptions. • Don’t ignore opportunities in the T&D sector. Returns could be better in T&D versus

61

The Coalition is a total energy imbecile

The Coalition is a total energy imbecile. And I am being kind. It’s a damn miracle that Australia’s decarbonisation of the grid is going so swimmingly because the Morrison Government and its Coalition predecessors are completely lost.  After yesterday’s excellent news that Yallourn coal-fired power station is going to close in 2028, with seven whole

31

Why China’s great technology plunge will smash Australia

Ever since Xi Jinping came to power in China, its economic narrative has shifted. What was considered an endless miracle of growth before his rise, transformed afterward into an endless critique of unbalanced growth. Xi launched major reforms from 2012 to 2015 that aimed for structural transformation in the Chinese economy from investment to consumption.

45

Europe moves to carbon tax Australian goods

For many years, as Australia agonised over its climate change transition and carbon price, forward-looking economists warned that it would not be long before it was imposed by other countries anyway. That day has come in the European Parliament: To raise global climate ambition and prevent ‘carbon leakage’, the EU must place a carbon price

44

Can farming be excluded and still reach 2050 net zero?

The Morrison Government’s absurd position on climate change is slowly evolving. Gone are the denials about climate change replaced by a motley crew of rent-seekers. We’ve shifted from the coal fixation to a “gas-led recovery” which is twenty years too late and won’t work anyway given the gas supply cartel on the east coast. Now

16

Capital installs mega-battery on ScoMo’s coal plant

Via Bloomie: Australia is planning another giant grid-scale battery as the global roll out of super-sized energy storage projects accelerates. The project in New South Wales-state, which will be three times larger than the current No. 1 battery in California, aims to store energy for the grid as Australia raises its share of renewable power.

4

ScoMo’s secret carbon tax kills gas power

Via Platts: The decline in gas-fired power generation to a 15-year low in eastern Australia’s national electricity market (NEM) in October-December may reflect the transition of country’s largest source of greenhouse gas (GHG) emissions to a lower carbon intensive sector. But it was not what the Australian government had in mind when it unveiled its

24

Australia last on zero-emissions scoreboard

Via the Bloomberg G20 Zero-carbon policy scoreboard: Governments around the world are considering how best to drive companies and consumers to reduce greenhouse-gas emissions with a view to avoiding catastrophic climate change. Many have begun to implement policies to achieve their goals, including setting a growing number of ‘net-zero’ targets. But which policies have been

44

Australia’s renewable outlook is better than Biden’s

The radicalised ABC was in foment over the weekend that the Biden Administration is about to ramp pressure on Australia to accelerate energy transformation: Pressure is increasing on Australia to toughen up its emissions reduction policies, as US President Joe Biden launches what’s been described as an “assault on climate change.” President Biden has signed

8

Will ScoMo lift power prices via gas or coal subsidies?

It’s a tricky question. Which uneconomic, species threatening fuel will you subsidise to build a white elephant power plant? Scott Morrison’s most senior ministers are split over subsidising a new coal-fired power station, after Josh Frydenberg rejected Nationals demands for the government to support a “modern” plant in the NSW Hunter Valley. The Treasurer’s opposition

54

Extreme fast-charging EV batteries emerge

Via The Guardian: Batteries capable of fully charging in five minutes have been produced in a factory for the first time, marking a significant step towards electric cars becoming as fast to charge as filling up petrol or diesel vehicles. Electric vehicles are a vital part of action to tackle the climate crisis but running

47

The death of coal comes to Asia

Via the AFR: Policy changes flagged by politicians and government departments in Vietnam, Indonesia and Bangladesh, and a full moratorium on new coal plants in the Philippines, may result in just 25 gigawatts (GW) of new coal-power projects getting built this year. That is an 80 per cent reduction from the 125GW planned five years ago,

28

2020 was Australia’s fourth hottest year on record

The BOM has released its Annual Climate Statement for 2020, headlining the sobering fact that 2020 was the fourth-warmest year on record, with temperature now 1.15 °C above the 1961–1990 average. Senior Climatologist Dr Lynette Bettio, said that: “The mean temperature for the 10 years from 2011 to 2020 was the highest on record, at

19

WoodMac: LNG doomed!

Via Oilprice: …if governments decide to double down on their climate change targets and start aiming for the more ambitious 2-degree scenario under the Paris Agreement, LNG growth will suffer. The so-called 2-degree scenario refers to efforts aimed at curbing the rise in average global temperatures to 2 degrees Celsius. A less realistic scenario is

9

Chinese house prices slip-slide away

This is potentially a very big story for 2021. Chinese house prices are slip-sliding away. In November they barely grew at just 0.1% and 4% year on year: 46 of 70 major cities are now either stalled or falling: Top tiers are cooked. There is still some growth lower down: The raw data:   Needless

5

Energy Quest entirely wrong on LNG

There is a reason that Energy Quest gets all of the research from the gas cartel. Today it blasts out complete economic drivel on price controls: “This kind of policy is more common in third-world countries. Given that most LNG is sold at oil-linked prices, which are generally higher than oil-linked prices, this could require

12

Grattan: Climate change is a health disaster for Australia

Stephen Duckett, Health Program Director for the Grattan Institute, has released a new report explaining how climate change poses a health disaster for Australia. Below is the Overview of the report alongside key charts and figures: Australia is about 1.5oC warmer than it was a hundred years ago. This warming is harming the health and

12

ACCC backs gas price controls

It’s taken me years to beat sense into the ACCC. It began to turn a few years ago but now it’s 100% on board. At The Australian: The competition regulator and major gas buyers say Australia’s big east coast LNG exporters have nothing to fear from the potential introduction of formal price controls, arguing the

41

How can China reach its net zero carbon pledge?

Via Bloomberg: China’s recent pledge to achieve carbon neutrality before 2060 has surprised the world. As the world’s largest carbon emitter and energy consumer, China’s yet-unknown pathway to carbon neutrality is certain to disrupt the globe’s energy economy. This white paper examines how accelerated electrification of final energy use in sectors such as industry and

39

World waiting for “suicidal” Australia to wake up on climate

Via Domain: The world is waiting for a “suicidal” Australia to reverse its stance on climate change, says one of the world’s most senior diplomats. Christiana Figueres, who was executive secretary of the United Nations Framework Convention on Climate Change through the Paris Agreement talks, said the world expected more from Australia in the lead-up

8

Joel Fitzgibbon crushes all hope of cheap eastern energy

Via the AFR: …energy spokesman Mark Butler said NSW needed the gas from the proposed $3.6 billion development. “NSW has relied upon other states for their gas supplies for many, many decades,” he said. “As their traditional supplies from Bass Strait or offshore Victorian fields drop off over coming years, as they will, NSW has

2

Gas lobby dreams turn nightmare!

The oil and gas lobby is having itself on big time at the AFR: Nationally consistent policy, improved regulation and better tax rules could help unlock billions of dollars in investment in Australia’s oil and gas sector and create thousands of jobs, according to a new report. Industry lobby the Australian Petroleum Production and Exploration