Via the AFR comes Australia’s BCA head and chief energy wrecker, Grant King: “In the last four terms of parliament, two under Labor and two under Coalition governments, we have lurched from one extreme to the other in terms of policy outcomes,” Mr King said on Monday night. “The most recent idea from government has been
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Energy lunacy marches on
Via the AFR: Energy producers and investors are regarding a possible Labor government after next year’s general election as offering the prospect of a defined energy policy that, while potentially tougher for the industry in some areas, will at least bring an end to what some have described as “almost uninvestable” situation under the Morrison
The Australian gas crisis redux
From Oxford Economics: In 2017, a gas crisis emerged in Australia’s East Coast gas market. Gas prices had increased rapidly from mid-2016 as the full effect of the three LNG projects starting operations on Curtis Island worked through the gas market, putting domestic energy users under pressure. In March 2017, the Australian Energy Market Operator
Korea takes piss with fifth LNG importer for NSW
Can Australia’s gas catastrophe get any more stupid? Yes, it can: Australia’s fifth LNG import terminal has been proposed by a South Korean developer, striking a preliminary deal with the Port of Newcastle to boost gas supplies to the nation’s east coast as part of a $US430 million ($586m) facility. EPIK, described as a Seoul-based LNG
Labor can humiliate Coalition energy chaos with a pen stroke
And surely it will do so. Two stories today show the lunacy, via AFR: The Morrison government has responded to backbench and industry anger by softening its proposed “big stick” laws to forcibly divest energy companies, but business remains hostile and there is no guarantee the laws will pass Parliament. In another day of energy
Bravo! Weatherill slays troglodyte Turnbull
Great stuff today from Australia’s best contemporary political leader, Jay Weatherill: Jay Weatherill has accused Malcolm Turnbull of intervening to “politicise a state emergency” after South Australia’s devastating statewide blackout in 2016, saying this ultimately led to his demise as prime minister because he was needlessly wedged “between the Labor states and his right-wing partyroom”
Renewables to power 80% of Australia by 2030?
So says the ABC: Renewable generation installation has accelerated to such an extent it is on track to provide almost 80 per cent of the electricity market by 2030, according to research from consultancy Green Energy Markets. GEM director Tristan Edis said the renewable energy industry has built itself up to such a significant scale
Adani green lights coal war
Via the AFR: Indian energy giant Adani has finally pulled the trigger on its controversial $2 billion Carmichael mine and will fund the project itself, with construction planned to begin before Christmas. After eight years of court challenges from environmental activists and delayed approvals, Adani Australia chief executive Lucas Dow on Thursday said the company
UN: Paris climate targets already blown
Via the UN: Current commitments expressed in the NDCs are inadequate to bridge the emissions gap in 2030. Technically, it is still possible to bridge the gap to ensure global warming stays well below 2°C and 1.5°C, but if NDC ambitions are not increased before 2030, exceeding the 1.5oC goal can no longer be avoided.
Gas cartel fails to track oil prices lower
Via the AFR: East coast manufacturers are voicing frustration as domestic gas prices fail to follow international LNG prices lower, leaving them paying up to 25 per cent more for spot gas than equivalent export “netbacks” despite the dive in crude oil prices. A combination of cool spring weather in Victoria and an apparent reduction
Coalition idiot explains energy policy
Liberal candidate for Frankston Michael Lamb says his party will get the private industry to build a power station in Victoria, if elected, but admits it will be at least partly taxpayer-funded. MORE: https://t.co/vMF1BfEI9c #Speers pic.twitter.com/8S4kxVdyvI — Sky News Australia (@SkyNewsAust) November 21, 2018 Enough said.
Labor: More renewables will lower power prices
Via the AFR: Labor says the certainty created by having an energy policy and the falling cost of renewable energy means emissions can be cut and prices lowered at the same time. Speaking ahead of the launch of Labor’s energy policy on Thursday, shadow climate change and energy minster Mark Butler said asking people to
Woodside bids to join east coast gas cartel
It’s all so horribly predictable. Via the AFR: After announcing that the world has arrived at a “new era for energy”, Coleman asked: “Where is the vision from our leaders today?” …”as renewables achieve scale, we risk wasting money on building more power into the system, resulting in generation overload. We risk ending up in
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)
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
Gas cartel plunders the last great east coast reserve
Yay! Love it. MB argued that when Shell bought QCLNG two years ago, the ACCC should have forced it to divest Arrow. It is the last big, undeveloped gas field on the east coast without community restrictions: Instead, the ACCC let the consolidation complete the export cartel. Now all of the Arrow gas is going to
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
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,
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
Gas cartel private carbon tax delivers solar superboom
Not everything about the gas cartel is bad. It is an effective and massive private carbon tax and that has predictable results, via the ABC: Andy McCarthy has been installing rooftop solar panels in Victoria for 18 years, but even he is stunned by the massive recent growth in demand. “It’s been crazy,” he said.
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
Gas cartel laughs as Labor boxes itself in on energy divestiture
Via the AFR: Labor will side with business and oppose the government granting itself powers to force the divestment of energy companies, arguing it is an ad hoc move which would have no impact on power prices and only serve as an investment risk. The Coalition is divided on the so-called “big stick” powers with
Gas cartel enraged by manufacturing rent-seeking
Via the AFR today: From the start, the structure of the ADGSM, with its annual decision on whether to curb LNG exports, was seen as vulnerable to “gaming” by gas buyers as they sought to access lower prices. Last September industry sources and analysts said some commercial buyers were deliberately holding off from signing new
How Australia destroyed its own energy market
From Renegade Economist comes the fantastic Bruce Robertson (IEEFA) on how Australia destroyed its own energy markets: We discuss policies to reduce gas prices as per international best practice. In light of further consolidation in the industry, we discuss how gas sets the baseline price for energy production in the nation. How much could energy
Either Labor kills the gas cartel or vice versa
The AFR continues its energy jihad against all Australians today: East coast gas buyers have resigned themselves to the prospect of paying around $10 a gigajoule for gas, even with Labor’s gas plan signalling lower prices, said Cooper Energy chief executive David Maxwell. “There no doubt that the mood has changed a lot in the last six
Time Andrew Bolt rolled over on climate change
Does anyone recall that glorious period for Andrew Bolt when he pounded away at the “myths” of global warming armed with one chart, the infamous “pause”: Mr Bolt remains a denier today but his chart has disappeared. Why? Because ye auld pause was just that, a pause, with temperatures since rocketing higher and confirming the