by ROGER CROOK – ON HEARING that the Liberals had followed the Nationals in abandoning net-zero the Australian Prime Minister Anthony Albanese called them a “clown show”.
He went on to reinforce his Party’s Canute-like claim, that renewable energy is the cheapest form of energy in the world, even though he can’t prove it.
- They could stop dead the debate on net-zero and make the Australian Labor government world famous.
- The obvious question is who’s in control of the Australian people’s money?
- Australian super funds have declined to back black outs.
His treasurer, Jim Chalmers, showing the whites of his eyes and looking more than a little startled as he stood in front of the Sydney Harbour Bridge decided to further lower the level of debate.
He again called anyone who doesn’t agree with Labor as “extremists”.
“Sussan Ley has caved in to the crackpots in her own Party, this is not some temporary phase they are going through. This is not some temporary lurch to the Right, over recent years,” Dr Chalmers said.
EXTREMISTS
“This Party has become a Party of extremists and Australians will pay a very heavy price for that extremism.”
Labor Minister Clair O’Neil – on the Kool aid again – decided to show that she’s a true believer of deceit.
“The Liberals’ decision to walk away from net-zero is not just about politics; net-zero means lower house energy costs, our country is making the big investment in renewables we know we need to make,” Ms O’Neil told Sky News.
Superannuation funds under management in Australia exceed A$4.1 trillion dollars, exceeding any single Sovereign Wealth Fund including Norway ($2.8 trillion) and China ($2.1 trillion).
Currently, about 50 per cent of Australian pension assets are invested offshore.
On May 19, 2019, Bill Shorten’s ALP lost the election everyone had their money on him to win.
That was the election where Pentecostal Scott Morrison got close to claiming divine intervention as the reason for a Coalition victory. When the final count was announced, he claimed “miracles do happen”.
There were the usual recriminations in the Labor Party after the loss, Shorten resigned as leader; Christopher Bowen (we dodged one there) and Anthony Albanese threw their hats into the ring to become leader.
Bowen withdrew and the metamorphosised, slim, well dressed and beaming, almost gentle Albanese became the new ALP leader. Five year later, he’s back to the old Tory-hating Albo.
On February 8, 2019, and before the general election, Future Super manager and climate activist Simon Sheikh put out a challenge to the Australian superannuation industry and their boards of directors.
I believe he assumed Labor were in an unlosable position come election time.
He told them conclusively that they, and they alone, were the answer to convert Australia to 100 per cent renewable energy.
He wrote: “New research reveals that 7.7 per cent of Australia’s retirement savings could fund 100 per cent renewable power by 2030.”
For some reason the investment by Australian super funds into the renewable energy program didn’t happen; perhaps because Labor lost?
They decided that they would not help the Coalition Government achieve the ambitions of Greta Thunberg, the UN Secretary General Antonio Guterres and his rabid climate change disciples in the ALP.
Fast forward five and a bit years and Simon Sheikh is at it again. These days Sheikh, the founder of Future Super is now the CEO of its parent company, the Future Group.
On June 18, 2025, with Labor newly elected for a second term, Sheikh wrote another letter to the super fund leaders, again calling on them to invest in renewable energy.
He said that Labor’s zero target plan is not going to be achieved without some serious investment – and that’s where super comes in.
Sheikh reminded the super leaders that there is about $4 trillion in their combined funds at the moment.
He claimed it has been estimated that with the backing of the government’s Capacity Investment Scheme, the target of 82 per cent renewables can be reached with an investment of around $40 billion, which is less than one per cent of the funds held in super.
Here we had a devoted Labor man calling on others in his industry to invest, “without risk”, into renewable energy.
We know the super funds have not responded to Sheikh’s clarion call because Bowen and Albanese are still persistently telling the world that the cheapest electricity is renewable electricity, and all they need is the investment.
The question remains why have the undoubtedly rich Australian super funds not invested their funds into Labor’s renewable energy program?
DEAD
They could stop dead the debate on net-zero and make the Australian Labor government world famous.
The obvious question to ask is who are the people in control of the Australian people’s money?
Five of the leading super funds have as their so-called “independent” chairs, ex-federal and State Labor ministers and union officials.
For example, Australian Super Chair is Don Russell, former adviser to Paul Keating. Hesta is chaired by Nicola Roxon one-time famous Labor Attorney-General and no friend of Tony Abbott.
Cbus chair is Wayne Swan, former federal treasurer and mentor to current Treasurer Dr Jim, the social scientist with a foul mouth.
Care Super chair is Linda Scott, former deputy lord mayor and Labor councillor for the City of Sydney.
TWU Chair is Nick Sherry former Labor politician and the well-known James Merlino, former Labor deputy premier in Victoria and close friend of ‘Chairman Dan’, is the chair of Rest Super.
All these super funds, when I looked, had a least five board members with links back to the Labor Party or union movement.
Maybe the Australian super funds have declined to back Black Out Bowen is because they have been talking to their counterparts in Sweden?
Eighty kilometres from the Arctic circle the green dream of Sweden and the European Community is spectacularly falling apart.
Sweden, once like Germany, was a nuclear power capital. Then – as the Germans were deceived by Leftist idiots – they closed their nuclear power stations and placed faith in wind power and net-zero.
Determined to make a region close to the Arctic Circle an economic centre, the Swedish Government channelled billions of pension fund savings into the establishment of the first steel mill to be built on the continent for 50 years.
Not content with it being any old steel mill, it was to be a “green” mill, using hydrogen.
The plan was to make it hydrogen backed by electricity generated by wind turbines; sounds all a bit Andew Forest to me.
It’s now teetering on the edge of viability – facing a cash crunch of $1.2 billion.
Couple that with Sweden’s electric battery manufacturer, Northvolt (Europe’s shining star in the mad drive to electrification of everything) has filed for bankruptcy.
The damage to Sweden’s government-controlled pension fund AP2, is substantial running into many millions of Kroner.
AMF, an occupational pension funds company owned by Swedish Enterprise and the Swedish Trade Union Confederation is also in line to lose their substantial investments.
There is a lot more to this story, but it is a salutary warning to both our Labor Treasurer Dr Jim, and to his counterpart in the UK Labour government, Rachael Reeves.
Two incompetents who, as a last resort, have their eyes on their people’s investments.
They continue to spend more than they receive and drive their respective countries further and further into debt.
“The problem with socialism is that you eventually run out of other people’s money.” How right was Margaret Thatcher? .PC
