10 December 2015, Renew Economy, Adani hits panic button over Carmichael coal mine. In a seemingly desperate move the billionaire chairman of Adani has announced that early in November he met the new Australian Prime Minister, Malcolm Turnbull, and demanded legislation be passed to extinguish legal actions challenging the proposed Carmichael coal mine. On Saturday, a little over a month after his meeting with Turnbull, Gautam Adani complained to journalists that legal challenges against the $15 billion mine, railway and port project had caused banks to refuse to finance the project. “Ultimately, a decision lies with the politicians. They have to go to Parliament for enacting a special law which says that once government gives approval, no one can challenge it. That is what our request is to the Australian government. You come up with a special legislation which they have done in the past also,” Adani complained. “Even though there is no stay, because of the judicial review, no lender will finance the project. They do not know what will be the outcome,” Adani told journalists, including the Indian business news website LiveMint. Adani also bemoaned the dramatic slump in thermal coal process in the seaborne coal market. “In the meanwhile, coal prices have also slumped. We have to revive to the next cycle,” he said. Adani’s loneliness on display Adani’s comments, which reveal how isolated the company has become, are extraordinary for three reasons. Firstly, the fact that Adani has chosen to go public just over a month after the November 4 meeting suggests that Turnbull didn’t immediately accede to Adani’s demand to extinguish the legal rights. In other words, having failed with his behind-the-scenes lobbying, the company is now pinning its hopes on publicly pressing its case via comments to Indian journalists. Read more here
Category Archives: Fossil Fuel Reduction
10 December 2015, Energy Post, The electricity network is changing fast – here is where Australia is heading. The Australian electricity sector is changing extremely fast, writes Paul Graham, Chief Economist CSIRO Energy at CSIRO (the Commonwealth Scientific and Industrial Research Organisation) in Australia. CSIRO Energy sees solar and storage costs still dropping rapidly. According to Graham, scenarios under which a third of people may be leaving the grid and 25-45% of electricity will be generated on-site are “plausible”. Things are changing extremely fast in the electricity sector. In 2013 the electricity industry and its stakeholders came together in the CSIRO Future Grid Forum to imagine the possibilities for the future of electricity industry to 2050. Electricity demand was falling, solar panels were being adopted en masse, retail prices were rising, and air conditioner ownership had doubled. By 2030, customers with solar panels are expected to be A$150-210 better off on average each year. By 2050 that balloons to $860-$1140 each year. Two years on we’ve updated those scenarios as part of the Electricity Network Transformation Roadmap project with the Energy Networks Association. We expect retail prices to rise further in coming decades, but not as much as we originally thought. Concerningly, we also expect the gap in electricity costs between households with and without solar to increase dramatically. Read More here
9 December 2015, Renew Economy, Paris, COP21: Australia digs in on fossil fuels, sees coal as solution to hunger. One of the big themes of the Paris climate talks has been the focus on renewable energy – wind and solar in particular – as a means to reach emission reduction pledges, and cut pollution in the cities. Australia’s Coalition government, however, is sticking to a familiar theme: it has invested heavily in fossil fuels with long-life assets it is keen to retain and, anyway, coal is still good for humanity. Foreign minister Julie Bishop used a forum hosted by Indonesia called “Pathways to a Sustainable Low Carbon and Climate Resilient Economy” to push the case for Australian fossil fuels. “Right now we are in a transition phase,” Bishop said. “Traditional energy sources, fossil fuels like coal, will remain a significant part of the global energy mix for the foreseeable future. “Barring some technological breakthrough fossil fuels will remain critical to promoting prosperity, growing economies and alleviating hunger for years to come.” Hunger? It seems a variation of the “coal is good for humanity” theme, despite repeated estimates by the likes of the IEA, the World Bank and others that suggest the needs of poor countries are probably best served by renewable energy. The comments yet again underline the disconnect between Australia’s apparent support for a global target of “well below 2°C” and its lack of policies to get its economy beyond the fossil fuel age – few renewables are being built and none of the major coal generators are being closed. Bishop suggested this would be the status quo. “It is a fact that energy is the mainstay of our respective countries’ export markets and underpins economic growth,” she said. “The capital stock and infrastructure we have in stock to create and supply energy, both fossil fuels and renewables, have long life spans.” So no early closures then. Read more here
9 December 2015, Energy Post, New: renewables can now play important role in industrial development. Thanks to massive cost reduction, renewable energy can now be used by developing countries in their industrial growth strategies, which was unthinkable until recently, writes John Mathews of Macquarie University in Australia in a new publication from UNIDO, “Promoting Climate Resilient Industry“. Mathews notes that renewables can help countries expand manufacturing and create jobs, reduce local pollution, increase energy security and reduce import costs from fossil fuels. Oh, yes – and they reduce greenhouse gas emissions. The necessity to align industrial development strategies with climate change mitigation provides a chance to bring a fresh perspective to both issues. Energy has not been a central concern in industrial development strategies in the past. This was for the simple reason that it was always assumed that countries would industrialize using fossil fuels – in the same way that Western countries had relied on fossil fuels in the 19th and early 20th centuries, followed by East Asian countries as they likewise depended on coal, oil and gas in the second half of the 20th century. Renewable sources are now within reach of almost all industrializing countries, or will be so within a few short years. This changes everything. But a coal-driven industrial pathway does not look so attractive in the 21st century, especially when being pursued at the scale envisaged by China, India and other industrializing giants. One fresh perspective is that renewable energy sources can now be factored into development strategies. This was not even feasible just a few years ago because of concerns that costs were greater than those associated with consuming fossil fuels. But as China and other emerging giants have placed more and more emphasis on renewable sources – with a focus on water, wind and sun – so they have driven down the costs, with global repercussions. Renewable sources are now within reach of almost all industrializing countries, or will be so within a few short years. This changes everything. Read More here