Carbon Economy

The rank hypocrisy displayed by former Greens leader, Bob Brown, over his opposition to the proposed Robbins Island wind farm in Tasmania has mushroomed, with Brown likening the project to poker machines.

Former Greens leader Bob Brown is campaigning against the proposed Robbins Island wind farm in Tasmania.

Nice podcast here from Grants discussing the significance of the recent Baoshang Bank default in China with Carl E. Walter, a former bank executive, coauthor of Red Capitalism: “(Baoshang) is scaring everybody because they’re not the only one.

by Chris Becker While the latest new car sales figure highlighted a systemic underyling economic weakness in Australia, there is a glimmer of hope: electric!

Via Global energy Monitor: Through a massive increase in portside infrastructure, floating offshore terminals, and oceangoing LNG vessels, the natural gas industry is seeking to restructure itself from a collection of regional markets into a wider and more integrated global system.

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 Australian energy carcass is being torn apart by hyenas today.

Is it an asteroid?

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.

Via the FT comes Martin Wolf: Will China emerge as a high-income country still ruled by a communist party state?

Crikey sums it up: Taylor far from electrifying.

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.

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.

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.

Via The Australian: Bill Shorten will impose an ­aggressive pollution cap on ­industry and business if elected, in a bid to meet Labor’s ambitious climate change targets, and will push for half of all new cars sold in Australia to be electric within a decade.

There are reasons to be optimistic.

Because that is its plan.

The problem with being insane is that you become self-satirising.

Via Damien Boey at Credit Suisse: Overnight, RBA Deputy Governor Debelle delivered a speech about climate change, and its implications for economic policy.

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.

No real surprise.

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.

Via EnergyQuest at the AFR: One third of Queensland’s new $84 billion LNG export industry is likely to be forced to close down by 2025 due to shortages of coal seam gas reserves and the need for shipments to be diverted to local users, according to a detailed analysis of the sector.