by ERIC ABETZ – ENERGY policy is looming as a fracture point in Australia’s political discourse.
At the next election, Australians will have a clear choice between the philosophies of “magic pudding economics” and “the magic of the market”. The path Australians take will determine their long-term well-being.
- The energy debate is mired in an atmosphere of short-term thinking and environmental zealotry.
- It is a sad reflection that a politician has to encourage an industry sector to fight for itself.
- Energy policy is looming as a real divide, and Australians will have a choice.
Energy supply and cost are key indicators of the sophistication, well-being and wealth of a society. That is why energy policy is so important. It makes or breaks an economy and the overall well-being of the people.
Today, Australia is locked into an internal debate over the future direction of energy policy. Is the answer government intervention or the “magic of the marketplace?”
POVERTY
Venezuela is a stark reminder of which approach destroys a nation and its economy, driving people into poverty on the back of unparalleled government intervention.
Opposition Leader Peter Dutton’s powerful speech to the Australian Petroleum Production and Exploration Association’s (APPEA) annual conference in Adelaide left no one in doubt that he champions the free market over government regulation and taxation, setting him and the Coalition in stark relief to Labor’s interventionism.
Up until the 1990s, Australia, blessed as it is with an abundance of energy resources, had some of the cheapest and most affordable energy in the world, allowing Australia to be considered a first-world economy.
The disadvantages of distance from markets, relatively high wages and regulatory burdens were largely overcome by the very competitively priced energy available to its wealth and job creators.
This picture has slowly but surely altered, indeed deteriorated, with the pursuit of so-called renewable energy targets and a commitment to zero emissions.
Australia now suffers from some of the highest-priced energy in the world despite its abundant energy resources.
While Australia is busily closing down its coal-fired power stations, the rest of the world is busily buying up our coal in record quantities and at record prices.
Each time another Australian coal-fired power station is closed or mooted to be closed, the predictable happens – our prices for energy go up.
STRUGGLING
Higher energy prices are now impacting Australia’s inflation surge leading to those on lower incomes being unable to heat or cool their homes and small businesses struggling to remain viable. The cost of living is a real issue, and quarterly power bills are a substantial cause.
Into this deficit of a coherent and sensible energy policy, Dutton, in his Budget Reply speech, showed courage, foresight and leadership by placing the nuclear energy option on the table as a potential and viable answer to the desire to reduce emissions while enjoying the stability of an energy supply that renewables are never able to provide (other than hydro).
He has now doubled down on making energy policy a key point of difference with his APPEA call to arms speech.
As the government zealously pursues its zero emissions target, it fails to recognise the damage that is being occasioned by the closures of coal-generated energy outpacing the supply and introduction of renewables.
Gas is seen as a transitional energy source to make up the ever increasing and looming shortfall in supply in this energy policy failure scenario. And the government believes it needs to intervene to save us from even more blackouts by directing the gas sector.
The government intervention in the energy market has led Australia into this impasse. The government’s answer to their self-inflicted dilemma is to now prescribe even more intervention with the capping of prices on gas and coal amongst other proposals.
Showing he is not afraid to take on the government’s energy policies, Peter Dutton has delivered a full-frontal challenge, not only to the government but the resources sector as well.
Dutton called out what he sees as the paucity of the knee-jerk government response, which he describes as a carbon tax larger than that proposed by former Prime Minister Julia Gillard all those years ago and a very real threat to sovereign risk which the resources sector, and more importantly Australia, can ill afford.
He also called on the sector to stand up and protect itself from the unparalleled interventions from the government. Such a call in an era where executives are too eager to present themselves as woke rather than looking after their shareholders’ interests was brave and timely.
SAD
In fact, it is a sad reflection that a political leader has to encourage a sector to fight for itself.
In more sensible and conventional times, it would be the relevant sector calling on parliamentarians to stand up for their sector.
Australia’s relatively balanced budget, despite the eye-watering expenditure levels, has been gained on the back of the royalties from our resources sector. It keeps Australia afloat. It deserves protection and support.
Doing reputational damage to it and demonising it is hardly smart, given it is Australia’s economic life support.
Frightening the resources sector and stifling investment through price caps and taxation will lead to less exploration and ultimately fewer export earnings which in turn leads to less government revenue.
Exposing Energy Minister Chris Bowen and his government’s approach to its long-term consequences is true leadership. This forward-thinking and projection is what Australia desperately needs in this debate which is mired in an atmosphere of short-term thinking and environmental zealotry.
For an opposition leader to engage in such truth-telling provides an insight into Dutton’s determination to be a leader with a long-term vision and do that which is best in Australia’s long-term interests.
Energy policy is looming as a real divide, and Australians will have a choice between “magic pudding economics” and “the magic of the market”.PC
The world Economic Forum and their reset policy is all part of the plan to destroy Western civilisation and replace it with a one party socialist system. We should wake up before it is to late. Albo is playing his part in this deception.
Okay to all and sundry . The definition of insanity is voting the same and expecting different results . ALP = CCP and have done so for decades and they enlisted The Greens ( Domestic Terrorists ) to form a Government . The LNP has failed as well . Tony Abbot was returning the Party to the Centre , but Imam Turnbull wanted to be absolute ruler . Then the Holier then though Morrison sold his soul to the WEF.WHO . Enough is enough . One Nation is the political party where the name says it all . One Nation. Why are we so eager to lose the war rather than admit to the mistake ??
Creation of the self named Turnbull Party in 2015 was a huge mistake by the Liberal MPs.
Tony Abbott led them to defeat Gillard Labor at the 2010 election forcing the Labor PM into an alliance minority Labor Government, Labor lost the seats they picked up at the 2007 election. And Tony Abbott led the Coalition again in 2013 and Labor was defeated in a landslide victory for the Coalition.
Here’s the evidence that Bowen and other morons like him wish to ignore:
“During 4.6 billion years of Earth’s long history, there were occasionally periods when high CO2 levels coincided with high temperature. Just as often, though, very high CO2 concentrations were accompanied by very low temperatures.”
REF: CO2 COALITION and Scotese CR (2002) Analysis of the temperature oscillations in geological eras. Paleomap Project
Berner RA (2001) GEOCARB III: A revised model of atmospheric CO2 over Phanerozoic time, IGBP PAGES and World Data Center for Paleoclimatology
During my researching of Carbon Dioxide I discovered a report from the United States Navy that CO2 in the amount of 5,000 parts per million or higher are often recorded in submerged submarines and with no reports of crew being harmed.
CO2, essential for life on Earth, naturally.
During the UN IPCC Copenhagen Climate Conference the delegation from China reported that civilisation records over 3,600 years in China revealed three warmer periods than the present day, each brought greater prosperity as food crops (and other plants) yields increased.
Tough times are coming: due to Bowen and let’s be frank, the stupid LNP, in particular the arrogant, destructive Matt Kean, Liddell and 10% of NSW’s stable energy is already gone. If Eraring goes then not only will NSW be finished but Australia will be as well since Eraring is 25% of NSW’s power and the biggest and best power source in Australia. The issue is not that renewables DO NOT WORK they don’t but that the justification for them, anthropogenic global warming (AGW), is the biggest scientific scam of all time.
3 quick non-scientific reasons why AGW is pure BS:
1 The Al Gore movie case where the Judgment was handed down in 2007 by the British HC, the most influential court in the Western world and by a single Judge sympathetic to AGW. The best scientists for and against AGW gave evidence and the Judge found ALL the alleged consequences of AGW either did not exist or were exaggerated.
2 Climategate in 2010 occurred when the private emails of all the pro AGW scientists were released by a whistle-blower. Those emails revealed these scientists did not believe their own theory but still intended to lie to the public about it and censor genuine scientists who were sceptical of AGW.
3 The Chine virus in 2020 caused world economic production to basically shut down with the human emissions of CO2 reduced by nearly 50%. There was no effect on atmospheric concentrations of CO2 proving the CO2 in the atmosphere is natural.
Bowen and the other ratbags believe in AGW, a theory which has been proven to be totally wrong.
Add to the list the audit report from UK mathematician Christopher Monckton revealing that the IPCC climate modelling figures did not match historic record data.
Monckton was mocked by IPCC officials, they said he is not a climate scientist, unqualified, and ignored his audit report. However they also banned him from speaking at IPCC conferences and meetings.
Computer modelling: garbage in, garbage out.
Assumedly the Voice will fail, the economy will go bad apropos hopeless economic stewardship, and if the left of the liberal party can shut up for long enough then the coalition will regain power, probably next time round. That said it’s no use returning to power if the left libs are again allowed to wreck the joint with massive spending, renewables, LGBTQ, gender fluidity et al. NSW is where they mainly fester incestuously, and which requires federal intervention. Basically decent liberals must be allowed to pre-select competent candidates, otherwise it will all go bad yet again, and the newest brigade of political lobbyists up for hire will be no better than Labor.
If ever there was a case for all elected politicians to undergo an intelligence test prior to taking a ministerial position Chris Bowen would have to be it. He is a complete idiot, and yet his colleagues seem to think he is sooooo funny when he stands up in Parliament and portrays his idiocy. This country is heading for even more serious strife if he remains in office.
Labor should be embarrassed to have him as a Cabinet Minister.
Minister Bowen was of course responsible for admission of over 50,000 asylum seeker illegal immigrants, abandoning the Howard Government Pacific Solution deterrents including offshore processing, lives lost at sea on Suspected Illegal Entry Vessels that did not arrive, and issued with Temporary Protection Visa to live in Australia while being processed and then to remain based on appeals after losing their asylum application.
And recently granted permanent residency by the Albanese Labor Government, what better sales material do people smugglers need?
Now Minister Bowen is again displaying his lack of common sense and judgement with energy policy.