The Morrison government has made the right call by spending billions supporting the economy during the current pandemic but it would be a waste of money and a breach of its own principles if it threw taxpayer cash into a plan that has been floated to encourage new natural gas fields.
old a Senate inquiry he backed using taxpayer money to guarantee the profits of private businesses that construct new pipelines to untapped gas fields. Gas is already struggling to compete as a fuel source for electricity against renewable energy backed up by batteries and pumped hydro. The Australian Energy Market Operator forecasts that the volume of gas burned to make electricity will be 80 per cent lower in 2030 than it was in 2012. If Australia is to meet its Paris targets, household gas stoves and heating systems will also likely be replaced by electric ones.
The Reserve Bank of Australia now expects official unemployment to hit 10 per cent by the end of the year but it will take many years to plan, get approval for and start construction of a new gas pipeline to a new gas field.
ElaineEDO Let's not forget utterly immoral given the climate emergency
IEEFA_AsiaPac Still, the effective way of escape is by developing new industries, catering for a more sophisticated world. On the contrary, this will protect the inefficient. It offers restriction and stable prices at the expense of the consumer. Here is the pattern for Australia’s capitalism.
They failed to make *any^ case. Unless, of course, the sole purpose was to line Nev’s pockets.
‘But we’ll get one anyway’, won’t we?
Thank you for your consistent coverage of the important issues and for calling out the crap!
No case at all. Why subsidise a failing industry just because it makes money for big Nev.
Gas led recovery compelling explained here
gas = methane = ClimateChange
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