Carbon Economy

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How the fossil fuels industry taxes us to death – literally

By Phil Soos, cross-posted from Independent Australia: The Government has prioritised economically supporting the fossil fuels industry instead of tackling urgent climate change issues, writes Philip Soos. AUSTRALIA’S CLIMATE CHANGE culture war is a hideous spectacle. Despite the obvious reality of human-caused climate change and the urgent need to act, the powerful fossil fuels industry (FFI)

9

Caixin China PMI stalls

Whether its credit or Trump it’s a slowdown in China: The latest Caixin China Composite PMI™ data (which covers both manufacturing and services) signalled only a marginal increase in overall Chinese business activity at the start of the fourth quarter of 2018. Furthermore, the Composite Output Index fell from 52.1 in September to a 28-month

3

Some taxes for the gas cartel!

A moderate victory over the gas cartel at Domainfax: Oil and gas giants will be hit with a $6 billion tax hike over the next decade following years of concern that Australia has been hemorrhaging lucrative revenue to multinationals. The decision was made after an 18-month wait for the Coalition’s response to a landmark review into

6

Japan breaks LNG deals so Straya can import its own gas!

Exciting news via Platts: On October 22, Japan’s Ministry of Economy, Trade and Industry unveiled a model clause that can be used by LNG buyers to remove destination restrictions from long-term contracts. Such restrictions have become more relaxed in renegotiations of LNG contracts or in new contracts among market players, Hiroshige Seko, minister of economy,

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Fossil fuels just love Mike Cannon-Brookes

Via AFR: Mike Cannon-Brookes’ campaign to reclaim the phrase “fair dinkum power” from Prime Minister Scott Morrison has been swamped with offers of support, and the Atlassian billionaire is in the process of registering a trademark for a logo to promote renewable energy. Mr Cannon-Brookes said he had had hundreds of tweets and emails expressing

7

Labor to revive hideous NEG

Via The Australian: Labor will take the National Energy Guarantee — devised by Malcolm Turnbull and Josh Frydenberg — to the next election as its preferred mechanism for reducing emissions. It will scale up the target in the NEG to meet its goal of reducing emissions by 45 per cent. Opposition environment spokesman Mark Butler

24

Migrants to the bush to fix climate change

Check out this triple somersault with four and half twists from Cities Minister Alan Drudge: Moving migrants into the regions and smaller cities would help fight climate change because congestion in Australia’s largest urban centres will fall, according to Population and Cities Minister Alan Tudge. Mr Tudge appeared on a panel at the University of

3

LNG imports must be stopped at all costs

The AFR offers a useful debate about gas today, though is draws all the wrong conclusions as usual. Its editorial sets the tone under the title “Solution to energy crisis should fall back on the market”: Rather than heavy-handed resource intervention, the best response is to encourage more domestic supply. That means peeling back the

14

Australia’s bowel-shakingly awful energy scab grab

The scab grab in Aussie energy today is quite simply a bloody disgrace. The AFR leads off the farce: The nation’s energy companies and biggest electricity users have given up on politics and begun backroom talks about a self-regulated package of measures to reduce greenhouse gas emissions, restore energy reliability and improve investor stability. They

6

Can WA gas save the east coast?

More warnings today from industry, via The Australian: The Australian Industry Group, which represents 60,000 manufacturing and industrial businesses, said the expected rise of gas prices on the east coast this summer back to near crisis levels threatens to dent the economy and reflects the government’s failure to sanction sound energy policies. Ai Group chief

5

Sack Sims to fix gas

There is a point at which recalcitrance becomes retardation and the ACCC has well and truly passed it on gas, via the AFR this morning: Competition czar Rod Sims singles out the two key culprits: overbuilding of LNG export capacity in Gladstone, and restrictions on onshore gas in NSW and Victoria that killed off new

24

The amusing life cycle of a Victorian gas molecule

The Australian energy crisis is the circus that just keeps on giving, via The Age: “It’s an inevitability that Australia will import gas, there needs to be at least one gas import terminal in Australia, if not potentially two,” Macquarie Bank analyst Andrew Hodge told Fairfax Media. …However, he said the terminals were unlikely to

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NEG architect warns on coal power

Via The Australian comes Kerry Schott, ESB chairwoman and NEG architect: “The fact of the matter is the existing coal plants we’ve got — some are low cost and very competitive,” Dr Schott said. “But the problem is that when you go to build a new coal plant and get new coal contracts — unless

15

Evans-Pritchard develops Trump derangement syndrome

Via an increasingly hysterical Ambrose Evans-Pritchard today: If Donald Trump and his close advisers think China’s economy is tottering on the brink and acutely vulnerable to pressure, they are sorely misinformed. …Construction is picking up after a slowdown earlier this year. Industrial profit margins are at a seven-year high of 7 per cent, despite a

6

Labor humiliates Morrison energy “chaos”

Via The Australian comes Queensland Energy Minister Anthony Lynham: “We stand ready to work with a federal Labor government on integrated climate and energy policy that will give investors certainty and drive down electricity prices,” he said. …Dr Lynham claimed there was “nothing but chaos and confusion” emerging from the Morrison government on energy policy

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How to fix Australia’s endless energy crisis with a pen

After years of energy war from the Coalition that has included: backing emissions trading; trashing emissions trading; backing renewable energy targets; trashing renewable energy targets; backing direct action; trashing direct action; backing the Chief Scientist; trashing the Chief Scientist; backing a National Energy Guarantee; trashing a National Energy Guarantee. Today we get the new vision from