Carbon Economy


Too many climate McKibbins

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. Australian National University Professor Warwick McKibbin said federal government policy to


Will China become a giant Singapore? No

Via the FT comes Martin Wolf: Will China emerge as a high-income country still ruled by a communist party state? If China were to achieve this, it would transform a world in which all large, high-income countries are currently democratic. It would reshape the global balance of power, not just economically and militarily, but also


EV debate shorts out

Crikey sums it up: Taylor far from electrifying. There was considerable fun to be had on the weekend with the government’s and News Corp’s attempts to attack Labor’s electric car plan. Bill Shorten’s claim that electric cars could be charged in 10 minutes was seized on by News Corp to attack him, while Scott Morrison accused Shorten of wanting


Gas cartel will destroy EV rollout

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. “Australia’s distribution networks were not designed for any significant uptake of electric ­vehicles and


AEMO declares 2023 gas shortage as cartel pillages right now

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. However, additional sources of gas supply are required to address a forecast gap in meeting long-term


How to end the carbon wars overnight

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. If Labor wins


Will Australia allow Shell to eat it?

Because that is its plan. The ACCC confirmed yesterday that the gas cartel is still taking the major piss, via The Australian: Gas prices on Australia’s east coast are set to fall this winter, potentially providing some relief to long-suffering manufacturers and heavy industry, according to data from the competition watchdog. Domestic gas prices may


Coal: Game over

The RBA was out last night discussing climate change and posted the following chart of energy costs which confirms our view that it is game over for coal:   These numbers are largely in line with our numbers on electricity costs from various sources and since it has been over a year since I last


Why is the RBA talking about climate change?

Via Damien Boey at Credit Suisse: Overnight, RBA Deputy Governor Debelle delivered a speech about climate change, and its implications for economic policy. Some key points are as follows: Climate change affects the agricultural sector of the economy. While agriculture is becoming less significant from a GDP perspective, food prices are still a major driver


No choice: Labor crushes gas price or is stillborn

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. The closures would bring an end to


Glencore bankrolls coal propaganda

No real surprise. Via The Guardian: The multinational mining giant Glencore spent millions bankrolling a secret, globally coordinated campaign to prop up coal demand by undermining environmental activists, influencing politicians and spreading sophisticated pro-coal messaging on social media. An investigation by Guardian Australia can reveal the covert campaign, dubbed “Project Caesar”, was orchestrated by world-renowned political operatives


Lame duck Morrison throws $2b climate change hail mary

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. From The ABC: Prime Minister Scott Morrison will today launch a new pre-election climate change policy, pledging $2 billion for projects to bring down Australia’s emissions. The Climate


Global clean energy investment falls in 2018

by Chris Becker While the headline looks bad at first glance, there’s still a lot of good news for renewable energy investors and energy consumers with the Bloomberg New Energy Finance annual report out this week. Global clean energy investment totaled $332.1 billion in 2018, down 8% on 2017; last year was the fifth in


Population ponzi means Australia can’t meet emissions targets

By Leith van Onselen The impossibility of Australia meeting its emissions target has been laid bare by lecturers at Deakin University. From The Conversation: In signing the Paris Climate Agreement, the Australian government committed to a global goal of zero net emissions by 2050. Australia’s promised reductions to 2030, on a per person and emissions


BOM: 2018 was third hottest year on record

by Chris Becker Aussie Aussie Aussie! Another record for the ages with the Bureau of Meteorology revealing that 2018 was the third hottest year on record, with global temperatures in 2018 to be the fourth-warmest year on record since 1880 (2015-2017 being the warmest): Drought prevention and relief, plus water security issues have never been more important, but


Gas cartel horrified by transparency

Via the AFR: Gas producers are privately voicing reservations about proposals that would require them to report on sales contracts, reserves and export prices, worried that the measures intended to increase transparency in the under-pressure east coast market could put them at a commercial disadvantage. The recommendations, released by the national competition regulator and the


Norway goes electric as Australia remains ICE bound

by Chris Becker Those crazy Norwegians! Saving money from a sovereign wealth fund and then investing in their future with huge incentives to electrify the transportation grid. It’s not like they spend over $42 billion a year importing oil to power their cars like Australia – which has less than two weeks of strategic reserve


Japan screams laughter at huge discount to Aussies on their own gas

Yes, it’s gas cartel gouge time once again. After the treasonous ACCC did nothing again yesterday on the gas market, the cartel is making hay charging Aussies $11Gj spot prices across the eastern seaboard while Asian prices are in the $9Gjs. Meanwhile, according to the disastrous ACCC, contract prices are: …offered and agreed in mid-2018


Nature: Global warming accelerating

Via Nature: Policymakers have less time to respond than they thought. Governments need to invest even more urgently in schemes that protect homes from floods and fires and help people to manage heat stress (especially older individuals and those living in poverty). Nations need to make their forests and farms more resilient to droughts, and