Carbon Economy

CBA Senior Economist and Senior Currency Strategist, Kristina Clifton, has published research estimating the amount of capital expenditures needed for Australia to transition to ‘net zero’ carbon emissions.

The Albanese government’s targets of a 43% reduction in carbon emissions by 2030 and ‘net zero’ by 2050 are already looking dead in the water.

The Albanese government’s target of a 43% reduction in carbon emissions by 2030 is partly based on expectations that electric vehicles would account for 89% of all new car sales by that date.

A report from the Green Building Council of Australia, reported in The AFR, shows that Australia had more than 10.9 million homes in mid-2022, and this is expected to increase by 40% by 2040.

Queensland’s state cabinet has approved the construction of a new desalination plant north of Brisbane, with the plant expected to cost between $4 billion and $8 billion to build.

By Stephen Saunders Captivated by the UN climate emergency, our smug ruling classes happily endorse Albanese’s regressive population-housing emergency.

Last week, the Australian Academy of Technological Sciences and Engineering (AATSE) and the Climate Council urged the federal government to accelerate Australia’s path to ‘net zero’ emissions.

Allegra Spender’s cognitive dissonance as Teal independent MP for Sydney’s upscale seat of Wentworth never ceases to astound. Last year, Spender sought a significant increase in immigration into Australia, claiming that “migration is a priority in Wentworth” (see here and here).

Engineers and technology scientists from Australia have urged the Albanese Government to “make up for lost time” and set a “monumental challenge” by aiming to eliminate the country’s carbon footprint by 2035 – 15 years earlier than currently targeted.

Dingo Bowen is fighting the federal opposition’s nuclear push: After Bowen, unprompted, released departmental figures claiming a shift from coal-fired power to nuclear would cost $387 million, the opposition leader said Bowen had become “unhinged”.

When I die, I want to come back as the gas cartel.

In 2011, former secretary of the Australian Treasury, Ken Henry, claimed Australia’s “sustainable population” was just 15 million, which is 11 million below current levels: “A sustainable population for Australia, well I don’t know, maybe 15 million, something like that, that’s one-five not five-zero”.

The SMH reported on Monday that “Sydney’s running out of water” and “the problem will get worse as climate change triggers more intense and frequent extreme weather, and our population booms”.

The Guardian’s Greg Jericho penned an article bemoaning Australia’s rising greenhouse gas emissions: “In the 12 months to March, Australia’s greenhouse gas emissions were higher than they were at the end of last year, and even higher than they were at the end of 2021”, Jericho writes.

For a long time, I fought tooth and nail to change it.

Earlier this year, Deloitte’s Weekly economic briefing discussed the pressures on Australia’s water supply as a result of aggressive population expansion (immigration) and climate change.

Given that two of Prime Minister Anthony Albanese’s major initiatives — ‘net zero’ glasshouse gas emissions and expanding Australia’s immigration levels — are at odds, the Labor government must explain to Australians how it plans to achieve both.

Goldman wraps issues with CNY.

FTAlphaville with a good post, which I would describe as the China best case.

Albo the Wrecker has done it again.