IEA call to end fossil fuels likely to fall on deaf ears in Asia, Australia Today 06:15 am JST Today | 07:06 am JST LAUNCESTON, Australia
It is probably just ironic coincidence, but the same day the International Energy Agency (IEA) called on the world to end fossil fuel investments, the Australian government announced plans for a new, $460 million natural gas-fired power plant.
The stark contrast between the two announcements is, however, emblematic of the challenges the world faces in transitioning from fossil fuel energy to cleaner renewables as efforts to combat climate change become more urgent and widespread across the globe.
The IEA s report on the pathway to net zero carbon emissions by 2050, released on May 18, warned that investment in oil, natural gas and coal projects must come to an end if the target has any chance of being reached.
Last modified on Tue 25 May 2021 17.13 EDT
Good morning! Covid restrictions are back in Melbourne as an outbreak in the city’s north grows, preselection battles are brewing in the Coalition and a stink over Tasmania’s Pooseum could be headed to the state’s Integrity Commission – it’s a real mixed bag in today’s morning mail. Enjoy!
One of the Coalition’s most senior women, the federal environment minister, Sussan Ley, is expected to face a challenge in her rural NSW seat of Farrer amid allegations of “toxic” branch-stacking by far-right conservatives. The threat comes as the prime minister, Scott Morrison, urged Liberal colleagues not “to get distracted” by a tumultuous preselection season in NSW in which at least four sitting MPs are being challenged, including two female marginal seat holders. Fiona Martin in Reid, Trent Zimmerman in North Sydney and Alex Hawke in Mitchell are also facing challenges, with the outcomes to be decided by plebiscites of local me
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Unions take a stand in support of Traditional Owners, Farmers and community in opposing Coal Seam Gas extraction
Maritime Union of Australia
All three NSW Branches of the Maritime Union of Australia announced today that they are prepared to back Gamilaraay Traditional Owners, farmers and the community in opposing Coal Seam Gas extraction in Narrabri with “everything they’ve got”.
Despite sustained local and national opposition, multinational behemoth Santos is pushing ahead with a proposal to build up to 850 Coal Seam Gas wells in the rich soils of the Liverpool Plains, the Pilliga Forest and surrounding areas near Narrabri.
Why the Hunter Valley gas plant is bad policy
The Kurri Kurri gas fired power station will neither cut power prices nor add useful capacity. But it will push energy investment risk back onto the taxpayer.
Tom Parry
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It’s been more than 30 years since the National Electricity Market was put in place. The reforms included the separation of the ownership of generation from networks. And, importantly, the privatisation of most of the electricity businesses that had been in the hands of mainly state and in some cases local governments for generations.
It was generally accepted that governments weren’t the best owners of these businesses and taxpayers shouldn’t face the emerging risks in the evolving energy market. The reforms to energy markets arising from the seminal Hilmer review saw the Commonwealth and states implement good bipartisan economic policy.