What you will find on this page: LATEST NEWS; Fossil fuel emissions have stalled; does the world need hydrogen?; Mapped: global coal trade; Complexity of energy systems (maps); Mapped: Germany’s energy sources (interactive access); Power to the people (video); Unburnable Carbon (report); Stern Commission Review; Garnaut reports; live generation data; fossil fuel subsidies; divestment; how to run a divestment campaign guide; local council divestment guide; US coal plant retirement; oil conventional & unconventional; CSG battle in Australia (videos); CSG battle in Victoria; leasing maps for Victoria; coal projects Victoria
Huge task to decarbonise
Source: Australian Delegation presentation to international forum held in Bonn in May 2012
Latest News 8 March 2016, Energy Post, New data debunks clean energy claims Apple, Amazon, Google. Recent claims by owners of large data centers that a large part of their operations are powered by renewable energy have skeptics coming out of from under their solar panels. Now, there is hard data proving that skepticism is valid, writes energy consultant and author Jim Pierobon. He applauds the efforts of companies like Amazon, Apple and Google to strive for clean energy, but calls for more transparency on their actual practices. A recent report by Lux Research casts a large shadow on some data centers’ clean-energy claims. Scientists at Lux Research found the data centers frequently draw on far more coal-fired power with its much higher emissions than renewables. Companies such as Google, Amazon and Apple should be careful about the claims they make, lest they come across partly as PR stunts. Amazon’s claims are off-base in 23 of its data centers in Virginia. It is less than transparent about how it calculates its emissions “They aren’t doing as much as they claim about sourcing their electricity,” said Ory Zik, Lux Vice President of Analytics. Full-time Data centers need a lot of power to run 24/7. They cannot rely on the intermittent supplies that come from solar and wind energy systems. As a result, they must draw electricity from the regional power grid. Solar and wind systems they have deployed or are developing can help supply renewable power to their centers and to power grids. But they supply nowhere near enough electricity on their own to run operate data centers reliably full-time. Read More here 4 March 2016, Energy Post, BP says not to worry, good times will return. Aside from minor adjustments, BP’s latest Energy Outlook is mostly business-as-usual, writes Fereidoon Sionshansi, president of Menlo Energy Economics and publisher of the newsletter EEnergy Informer.BP seems to have missed out entirely on the agreement reached in Paris in December 2015, as if it did not happen, notes Sionshansi: “The Outlook seems more of a wish list than a forecast.” BP‘s annual Energy Outlook is always worth a read even if you do not agree with BP’s oil-centric outlook. The 2016 edition, which looks out to 2030, is no exception. To its credit, BP is slowly and grudgingly acknowledging that the future may evolve rather differently than the past – e.g., lower global demand growth rates, changes in the mix of fuels that supply the demand, growth of renewables especially in the power generation sector – yet it seems reluctant or unable to abandon the status quo, the history with which it is familiar and comfortable. Call it organizational inertia, or bias, common among all oil majors. Few would fundamentally disagree that at $30 a barrel, oil is too cheap – certainly compared to highs of 100+ in 2014. But given the supply glut and fierce competition among many producers it is less clear how soon the rebalancing will take place, to what extent prices will rebound and for how long. US shale producers, for example, are likely to be back in business once prices rise above $50, dampening the price recovery. Read More here 3 March 2016, Energy Post, Exxon’s never-ending big dig. ExxonMobil not only appears to have ignored its own scientists when they warned about the dangers of greenhouse gas emissions in the 1980s, the company even took advantage of its inside knowledge by leasing large tracts for Arctic oil exploration, writes famous author and activist Bill McKibben in a revealing essay. What is worse, says McKibben, is that even today Exxon continues to spend billions finding and producing ever more fossil fuels. But he notes that “revulsion is growing”: Big Oil may yet suffer the same fate as Big Tobacco. Courtesy of TomDispatch.com. Here’s the story so far. We have the chief legal representatives of the eighth and 16th largest economies on Earth (California and New York) probing the biggest fossil fuel company on Earth (ExxonMobil), while both Democratic presidential candidates are demanding that the federal Department of Justice join the investigation of what may prove to be one of the biggest corporate scandals in American history. And that’s just the beginning. As bad as Exxon has been in the past, what it’s doing now – entirely legally – is helping push the planet over the edge and into the biggest crisis in the entire span of the human story. “We will adapt to this … It’s an engineering problem, and it has engineering solutions” Back in the fall, you might have heard something about how Exxon had covered up what it knew early on about climate change. Maybe you even thought to yourself: that doesn’t surprise me. But it should have. Even as someone who has spent his life engaged in the bottomless pit of greed that is global warming, the news and its meaning came as a shock: we could have avoided, it turns out, the last quarter century of pointless climate debate. Read More here 2 March 2016, Renew Economy, “Base load” power: a myth used to defend the fossil fuel industry. Last week, leading lights of the global fossil power industry gathered at a conference in Houston, Texas, for CERA, known in the sector as the “Davos of Energy”. They reportedly got the shock of their professional careers. They had invited the most senior executives from the biggest network owner (Chine State Grid Corp) in the biggest energy market in the world (China). The organisers fully expected their Chinese guest to endorse the “all of the above” marketing pitch, which is underpinning the “keep coal” campaign. No such luck. Despite prodding by leading oil industry commentator Daniel Yergin, the chairman of State Grid Liu Zhenya reportedly said the “fundamental solution was to accelerate clean energy, with the aim of replacing coal and oil.” Gasp number one. And then to more stunned silence, he and State Grid’s R&D chief Huang Han dismissed coal’s claim to be an indispensable source of “base load” generation. As the network operator builds out its clean power sources, they noted, coal-fired generators could only serve as “reserve power” to supplement renewables. “The only hurdle to overcome is ‘mindset’,” Liu said. “There’s no technical challenge at all.” The “base load” mindset, though, is a pretty big and powerful hurdle. Across the world it infests incumbent utilities, the coal and nuclear lobbies, conservative politicians, energy regulators, and many in mainstream media, who are clinging to the concept of “base load generation” as the last resort to try to ridicule wind, solar and other technologies. In Australia, which has more coal generation as a percentage of its energy supply than any other developed country, this perpetuation of this idea has reached fever pitch, particularly with the imminent exit of the large coal-fired power station in South Australia. But according to Tim Buckley, from the Institute of Energy Economics and Financial Analysis, the idea of “base load” generation as an essential part of the energy mix is becoming redundant, and turning into a myth dreamed up by the fossil fuel industry to protect its interests. “It’s as dangerous as the marketing term of “clean coal” and the idea that coal is “good for humanity”,” Buckley says. Read more here 9 October 2017, The Conversation, After the storm: how political attacks on renewables elevates attention paid to climate change. This time last year, Australia was getting over a media storm about renewables, energy policy and climate change. The media storm was caused by a physical storm: a mid-latitude cyclone that hit South Australia on September 29 and set in train a series of events that is still playing itself out. The events include: In one sense, the Finkel Review was a response to the government’s concerns about “energy security”. But it also managed to successfully respond to the way energy policy had become a political plaything, as exemplified by the attacks on South Australia. New research on the media coverage that framed the energy debate that has ensued over the past year reveals some interesting turning points in how Australia’s media report on climate change. Read More here 4 October 2017, The Conversation, Why are we still pursuing the Adani Carmichael mine? Why, if Adani’s gigantic Carmichael coal project is so on-the-nose for the banks and so environmentally destructive, are the federal and Queensland governments so avid in their support of it? Once again the absurdity of building the world’s biggest new thermal coal mine was put in stark relief on Monday evening via an ABC Four Corners investigation, Digging into Adani. Where the ABC broke new ground was in exposing the sheer breadth of corruption by this Indian energy conglomerate. And its power too. The TV crew was detained and questioned in an Indian hotel for five hours by police. It has long been the subject of high controversy that the Australian government, via the Northern Australia Infrastructure Facility (NAIF)that is still contemplating a A$1 billion subsidy for Adani’s rail line, a proposal to freight the coal from the Galilee Basin to Adani’s port at Abbot Point on the Great Barrier Reef. But more alarming still, and Four Corners touched on this, is that the federal government is also considering using taxpayer money to finance the mine itself, not just the railway. No investors in sight As private banks have walked away from the project, the only way Carmichael can get finance is with the government providing guarantees to a private banking syndicate, effectively putting taxpayers on the hook for billions of dollars in project finance. The prospect is met with the same incredulity in India as it is here in Australia: Read More here 4 October 2017, The Conversation, Australia’s $1 billion loan to Adani is ripe for a High Court challenge. Indian mining giant Adani’s proposal to build Australia’s largest coal mine in Queensland’s Galilee Basin has been the source of sharp national controversy, because of its potential economic, health, evironmental and cultural risks. These concerns were amplified this week when India’s former environment minister Jairam Ramesh told the ABC’s Four Corners: My message to the Australian government would certainly be: please demonstrate that you have done more homework than has been the case so far. It’s a valid warning, considering that a Commonwealth investment board is considering loaning Adani A$1 billion in federal money to assist the development of mining infrastructure. The loan, expected to be announced any day now, will no doubt agitate further political controversy. It is also likely to pave the way for yet more court challenges against Adani’s proposal. Read More here 3 October 2017, The Guardian, Voters back fracking bans despite pressure on states to drop them. Despite the Turnbull government’s insistence that state-based restrictions on unconventional gas extraction are putting Australia’s energy security at risk, twice as many voters support the bans as oppose them. A new poll, conducted by the progressive thinktank the Australia Institute, has found 49% of Australians support a moratorium on fracking for gas in their own state, while just 24% oppose it. It also found 74% of Australians support an increased renewable energy target in their own state, demonstrating support for state-based renewable energy targets is largely unchanged since March 2016. The Australia Institute survey of 1,421 Australians took place between 17 and 26 September. It asked voters if they supported or opposed their state governments implementing a moratorium on fracking for gas and an increased renewable energy target. The poll ended last week just as the prime minister, Malcolm Turnbull, wrote to the New South Wales premier, Gladys Berejiklian, the Victorian premier, Daniel Andrews, and the Northern Territory chief minister, Michael Gunner, asking them to lift their “blanket moratoriums” on new gas production and warning they were putting Australia’s energy security and industries at risk. Read More here 16 December 2021, The Conversation, Grattan on Friday: Pesky female independent candidates are the PM’s latest ‘women problem’. Scott Morrison and his government enter the new year with a fresh iteration of the “women problem”. This is the multiple high-profile female independents contesting a number of Liberal seats. It’s not that the next parliament is likely to see a big influx of new lower house crossbenchers. ABC election analyst Antony Green points out that, to win, independents in these seats would need a 25-30% primary vote and to push the Liberal vote down to about 45%. One of these aspirants may succeed, two if they were extremely lucky. Perhaps the drive will end up nothing more than colour and movement. But however it goes, their challenges bring serious campaign trouble for Morrison. Strong female candidates casting themselves as representatives, or “voices”, of their communities are standing in North Sydney, Mackellar, Wentworth, Hughes and Hume in NSW, and in Goldstein, Kooyong and Flinders in Victoria. Their priorities include climate change, integrity and women’s issues. Read more here. 14 December 2021, The Conversation, What’s going on with independent candidates and the federal election? With the 2022 election promising to be close – the Morrison government has just a one-seat majority – could high-profile independents be a crucial factor in key seats? From former ABC journalist Zoe Daniel in Goldstein to businesswoman Allegra Spender in Wentworth, swathes of locally-endorsed independent candidates are contesting high-profile seats, with a strong focus on climate change action. Since the introduction of proportional representation for the Senate in 1949, we have become very accustomed to independents and minor parties being important players in the Senate. But what about the lower house? How MPs get elected is important. The answer lies in the system used to elect candidates to the House of Representatives. Proportional representation is good for minor parties and independents, but in the lower-house, our single-member electorates create and then reinforce two-party systems. Read more here. 13 December 2021, The Washington Post, Crucial Antarctic ice shelf could fail within five years, scientists say. Scientists have discovered a series of worrying weaknesses in the ice shelf holding back one of Antarctica’s most dangerous glaciers, suggesting that this important buttress against sea level rise could shatter within the next three to five years. Until recently, the ice shelf was seen as the most stable part of Thwaites Glacier, a Florida-sized frozen expanse that already contributes about 4 percent of annual global sea level rise. Because of this brace, the eastern portion of Thwaites flowed more slowly than the rest of the notorious “doomsday glacier.” But new data show that the warming ocean is eroding the eastern ice shelf from below. Satellite images taken as recently as last month and presented Monday at the annual meeting of the American Geophysical Union show several large, diagonal cracks extending across the floating ice wedge. Read more here. 7 December 2021, The Conversation: We are professional fire watchers, and we’re astounded by the scale of fires in remote Australia right now. While southern Australia experienced a wet winter and a soggy spring, northern Australia has seen the opposite. Extreme fire weather in October and November led to bushfires across 120,000 square kilometres of southern savanna regions. Significant fires continue to burn in the Kimberley, the Top End, Cape York and the northern deserts. And while recent rain across the central deserts has reduced the current fire risk, it will significantly increase fuel loads which creates the potential for large wildfires in summer. We are professional fire watchers. The lead author of this article, Rohan Fisher, maps and monitors fires across the tropical savannas and rangelands that comprise 70% of the Australian continent. The scale of burning we’re now seeing astounds us – almost as much as the lack of interest they generate. This continent’s fire ecology is poorly understood by most Australians, despite recent significant bushfire events close to big cities. But as we enter the Pyrocene age under worsening climate change, good fire knowledge is vitally important. Read more here 3 November 2020, Carbon Brief: Hydrogen gas has long been recognised as an alternative to fossil fuels and a potentially valuable tool for tackling climate change. Now, as nations come forward with net-zero strategies to align with their international climate targets, hydrogen has once again risen up the agenda from Australia and the UK through to Germany and Japan. In the most optimistic outlooks, hydrogen could soon power trucks, planes and ships. It could heat homes, balance electricity grids and help heavy industry to make everything from steel to cement. But doing all these things with hydrogen would require staggering quantities of the fuel, which is only as clean as the methods used to produce it. Moreover, for every potentially transformative application of hydrogen, there are unique challenges that must be overcome. In this in-depth Q&A – which includes a range of infographics, maps and interactive charts, as well as the views of dozens of experts – Carbon Brief examines the big questions around the “hydrogen economy” and looks at the extent to which it could help the world avoid dangerous climate change. Access full article here Fossil fuel emissions have stalled 14 November 2016, The Conversation, Fossil fuel emissions have stalled: Global Carbon Budget 2016. For the third year in a row, global carbon dioxide emissions from fossil fuels and industry have barely grown, while the global economy has continued to grow strongly. This level of decoupling of carbon emissions from global economic growth is unprecedented.Global CO₂ emissions from the combustion of fossil fuels and industry (including cement production) were 36.3 billion tonnes in 2015, the same as in 2014, and are projected to rise by only 0.2% in 2016 to reach 36.4 billion tonnes. This is a remarkable departure from emissions growth rates of 2.3% for the previous decade, and more than 3% during the 2000’s. Read More here Do you want to understand the complexity of energy systems which support our high consumption lifestyles? Most people don’t give too much thought to where their electricity comes from. Flip a switch, and the lights go on. That’s all. The origins of that energy, or how it actually got into our homes, is generally hidden from view. This link will take you to 11 maps which explain energy in America (it is typical enough as an example of a similar lifestyle as Australia – when I find maps for Oz I’ll add them in) e.g. above map showing the coal plants in the US. Source: Vox Explainers Mapped: how Germany generates its electricity – another example Power to the People – Lock the Gate looks back at the wins of 2015 And there’s lots more coming up in 2016. Some of the big priorities coming up next for the “Lock the Gate” movement are: If you want to give “Lock the Gate” your support – go here for more info This new report reveals that the pollution from Australia’s coal resources, particularly the enormous Galilee coal basin, could take us two-thirds of the way to a two degree rise in global temperature. To Read More and download report The 2006 UK government commissioned Stern Commission Review on the Economics of Climate Change is still the best complete appraisal of global climate change economics. The review broke new ground on climate change assessment in a number of ways. It made headlines by concluding that avoiding global climate change catastrophe was almost beyond our grasp. It also found that the costs of ignoring global climate change could be as great as the Great Depression and the two World Wars combined. The review was (still is) in fact a very good assessment of global climate change, which inferred in 2006 that the situation was a global emergency. Read More here The Garnaut Climate Change Review was commissioned by the Commonwealth, state and territory governments in 2007 to conduct an independent study of the impacts of climate change on the Australian economy. Prof. Garnaut presented The Garnaut Climate Change Review: Final Report to the Australian Prime Minister, Premiers and Chief Ministers in September 2008 in which he examined how Australia was likely to be affected by climate change, and suggested policy responses. In November 2010, he was commissioned by the Australian Government to provide an update to the 2008 Review. In particular, he was asked to examine whether significant changes had occurred that would affect the analysis and recommendations from 2008. The final report was presented May 2011. Since then the Professor has regularly participated in the debate of fossil fuel reduction, as per his latest below: To access his reports; interviews; submissions go here 27 May 2015, Renew Economy, Garnaut: Cost of stranded assets already bigger than cost of climate action. This is one carbon budget that Australia has already blown. Economist and climate change advisor Professor Ross Garnaut has delivered a withering critique of Australia’s economic policies and investment patterns, saying the cost of misguided over-investment in the recent mining boom would likely outweigh the cost of climate action over the next few decades. Read More here Live generation of electricity by fuel type Fossil Fuel Subsidies – The Age of entitlement continues 24 June 2014, Renew Economy, Age of entitlement has not ended for fossil fuels: A new report from The Australia Institute exposes the massive scale of state government assistance, totalling $17.6 billion over a six-year period, not including significant Federal government support and subsidies. Queensland taxpayers are providing the greatest assistance by far with a total of $9.5 billion, followed by Western Australia at $6.2 billion. The table shows almost $18 billion dollars has been spent over the past 6 years by state governments, supporting some of Australia’s biggest, most profitable industries, which are sending most of the profits offshore. That’s $18 billion dollars that could have gone to vital public services such as hospitals, schools and emergency services. State governments are usually associated with the provision of essential services like health and education so it will shock taxpayers to learn of the massive scale of government handouts to the minerals and fossil fuel industries. This report shows that Australian taxpayers have been misled about the costs and benefits of this industry, which we can now see are grossly disproportionate. Each state provides millions of dollars’ worth of assistance to the mining industry every year, with the big mining states of Queensland and Western Australia routinely spending over one billion dollars in assistance annually. Read More here – access full report here What is fossil fuel divestment? Local Governments ready to divest Aligning Council Money With Council Values A Guide To Ensuring Council Money Isn’t Funding Climate Change. 350.org Australia – with the help of the incredible team at Earth Hour – has pulled together a simple 3-step guide for local governments interested in divestment. The movement to align council money with council values is constantly growing in Australia. It complements the existing work that councils are doing to shape a safe climate future. It can also help to reshape the funding practices of Australia’s fossil fuel funding banks. The steps are simple. The impact is huge.The guide can also be used by local groups who are interested in supporting their local government to divest as a step-by-step reference point. Access guide here How coal is staying in the ground in the US Sierra Club Beyond Coal Campaign May 2015, Politico, Michael Grunwald: The war on coal is not just political rhetoric, or a paranoid fantasy concocted by rapacious polluters. It’s real and it’s relentless. Over the past five years, it has killed a coal-fired power plant every 10 days. It has quietly transformed the U.S. electric grid and the global climate debate. The industry and its supporters use “war on coal” as shorthand for a ferocious assault by a hostile White House, but the real war on coal is not primarily an Obama war, or even a Washington war. It’s a guerrilla war. The front lines are not at the Environmental Protection Agency or the Supreme Court. If you want to see how the fossil fuel that once powered most of the country is being battered by enemy forces, you have to watch state and local hearings where utility commissions and other obscure governing bodies debate individual coal plants. You probably won’t find much drama. You’ll definitely find lawyers from the Sierra Club’s Beyond Coal campaign, the boots on the ground in the war on coal. Read More here Oil – conventional & unconventional May 2015, Oil change International Report: On the Edge: 1.6 Million Barrels per Day of Proposed Tar Sands Oil on Life Support. The Canadian tar sands is among the most carbon-intensive, highest-cost sources of oil in the world. Even prior to the precipitous drop in global oil prices late last year, three major projects were cancelled in the sector with companies unable to chart a profitable path forward. Since the collapse in global oil prices, the sector has been under pressure to make further cuts, leading to substantial budget cuts, job losses, and a much more bearish outlook on expansion projections in the coming years. Read full report here. For summary of report USA Sierra Club Beyond Oil Campaign Coal Seam Gas battle in Australia Lock the Gate Alliance is a national coalition of people from across Australia, including farmers, traditional custodians, conservationists and urban residents, who are uniting to protect our common heritage – our land, water and communities – from unsafe or inappropriate mining for coal seam gas and other fossil fuels. Read more about the missions and principles of Lock the Gate. Access more Lock the Gate videos here. Access Lock the Gate fact sheets here 2014: Parliament of Victoria Research Paper: Unconventional Gas: Coal Seam Gas, Shale Gas and Tight Gas: This Research Paper provides an introduction and overview of issues relevant to the development of unconventional gas – coal seam, shale and tight gas – in the Australian and specifically Victorian context. At present, the Victorian unconventional gas industry is at a very early stage. It is not yet known whether there is any coal seam gas or shale gas in Victoria and, if there is, whether it would be economically viable to extract it. A moratorium on fracking has been in place in Victoria since August 2012 while more information is gathered on potential environmental risks posed by the industry. The parts of Victoria with the highest potential for unconventional gas are the Gippsland and Otway basins. Notably, tight gas has been located near Seaspray in Gippsland but is not yet being produced. There is a high level of community concern in regard to the potential impact an unconventional gas industry could have on agriculture in the Gippsland and Otway regions. Industry proponents, however, assert that conventional gas resources are declining and Victoria’s unconventional gas resources need to be ascertained and developed. Read More here 28 January 2015, ABC News, Coal seam gas exploration: Victoria’s fracking ban to remain as Parliament probes regulations: A ban on coal seam gas (CSG) exploration will stay in place in Victoria until a parliamentary inquiry hands down its findings, the State Government has promised. There is a moratorium on the controversial mining technique, known as fracking, until the middle of 2015. The Napthine government conducted a review into CSG, headed by former Howard government minister Peter Reith, which recommended regulations around fracking be relaxed. Labor was critical of the review, claiming it failed to consult with farmers, environmental scientists and local communities. Read more here Keep up to date and how you can be involved here Friends of the Earth Melbourne Coal & Gas Free Victoria 20 May 2015, FoE, Inquiry into Unconventional Gas: Check here for details on the Victorian government’s Inquiry into unconventional gas. The public hearings have not yet started, however the Terms of Reference have been released. The state government’s promised Inquiry into Unconventional Gas has now been formally announced, with broad terms of reference (TOR). FoE’s response to the TOR is available here. The Upper House Environment and Planning Committee will manage the Inquiry. You can find the Inquiry website here. The final TOR will be determined by the committee. Significantly, it is a cross party committee. The Chair is a Liberal (David Davis), and there is one National (Melinda Bath), one Green (Samantha Dunn), three from the ALP (Gayle Tierney, Harriet Shing, Shaun Leane), an additional MP from the Liberals (Richard Dalla-Riva), and one MP from the Shooters Party (Daniel Young). Work started by the previous government, into water tables and the community consultation process run by the Primary Agency, will be released as part of the inquiry.The moratorium on unconventional gas exploration will stay in place until the inquiry delivers its findings. The interim report is due in September and the final report by December. There is the possibility that the committee will amend this timeline if they are overwhelmed with submissions or information. Parliament will then need to consider the recommendations of the committee and make a final decision about how to proceed. This is likely to happen when parliament resumes after the summer break, in early 2016. Quit Coal is a Melbourne-based collective that campaigns against the expansion of the coal and unconventional gas industries in Victoria. Quit Coal uses a range of tactics to tackle this problem. We advise the broader Victorian community about plans for new coal and unconventional gas projects, we put pressure on our government to stop investing in these projects, and we help to inform and mobilise Victorian communities so they can campaign on their own behalf. We focus on being strategic, creative, and as much as possible, fun! The above screen shot is of the Victorian State government’s Mining Licences Near Me site. Go to this link to see what is happening in your area Environment Victoria’s campaign CoalWatch is an interactive resource that tracks the coal industry’s expansion plans and helps builds a movement to stop these polluting developments. CoalWatch provides a way for everyday Victorians to keep track of the coal industry’s ambitious expansion plans. To check what tax-payer money has been pledged to brown coal projects and the coal projects industry is spruiking to our politicians. Here’s another map via EV website (go to their website and you should be able to get better detail from Google Maps: Red areas: Exploration licences (EL). These areas are held by companies to undertake exploration activity. A small bond is held by government in case of any damage. If a company wants to progress the project it needs to obtain a mining licence. Exploration Licence applications are marked with an asterix in the Places Index eg. EL4684*. Yellow areas: Mining Licences (MIN). A mining licence is granted with the expectation that mining will occur. A larger bond is paid to government. Green areas: Exploration licences that have been withdrawn or altered due to community concern. Green outline: Existing mines within Mining Licences. Purple areas: Geological Carbon Storage Exploration areas for carbon capture and storage. On-shore areas have been released by the State Government, while off-shore areas have been released by the Federal Government. The Coal Watch wiki tracks current and future Victorian coal projects, whether they are power stations, coal mines, proposals to export coal or some other inventive way of burning more coal. To get the full picture of coal in Victoria visit our wiki page. Get more info and see the full list of Exploration Licences current at 17 August 2012 here August 2015, Institute for Energy Economics & Financial Analysis – powerpoint: Changing Dynamics in the Global Seaborne Thermal Coal Markets and Stranded Asset Risk. Information from one of the slides follows. To view full presentation go here Economic Implications for Australia 83% of Australian coal mines are foreign owned, hence direct leverage of fossil fuels to the ASX is relatively small at 1-2%. However, for Australia the exposure is high, time is needed for transition and the new industry opportunities are significant: 1. Energy Infrastructure: Australia spends $5-10bn pa on electricity / grid sector, much of it a regulated asset base that all ratepayers fund much of it stranded. BNEF estimate of Australia’s renewable energy infrastructure investment for 2015-2020 was cut 30% from A$20bn post RET. Lost opportunities. 2. Direct employment: The ABS shows a fall of ~20k from the 2012 peak of 70K from coal mining across Australia, and cuts are ongoing. Indirect employment material. 3. Terms of trade: BZE estimates the collapse in the pricing of iron ore, coal and LNG cuts A$100bn pa from Australia’s export revenues by 2030, a halving relative to government budget estimates of 2013/14. Coal was 25% of NSW’s total A$ value of exports in 2013/14 (38% of Qld). Australia will be #1 globally in LNG by 2018. 4. The financial sector: is leveraged to mining and associated rail port infrastructure. WICET 80% financed by banks, mostly Australian. Adani’s Abbot Point Port is foreign owned, but A$1.2bn of Australian sourced debt. Insurance firms and infrastructure funds are leveraged to fossil fuels vs little RE infrastructure assets. BBY! 5. Rehabilitation: $18bn of unfunded coal mining rehabilitation across Australia. 6. Economic growth: curtailed as Australia fails to develop low carbon industries.
In-depth Q&A: Does the world need hydrogen to solve climate change?
3 May 2016, Carbon Brief, The global coal trade doubled in the decade to 2012 as a coal-fueled boom took hold in Asia. Now, the coal trade seems to have stalled, or even gone into reverse. This change of fortune has devastated the coal mining industry, with Peabody – the world’s largest private coal-mining company – the latest of 50 US firms to file for bankruptcy. It could also be a turning point for the climate, with the continued burning of coal the biggest difference between business-as-usual emissions and avoiding dangerous climate change. Carbon Brief has produced a series of maps and interactive charts to show how the global coal trade is changing. As well as providing a global overview, we focus on a few key countries: Read More here/cdn0.vox-cdn.com/uploads/chorus_asset/file/3915730/EIA%20coal%20power%20plants.png)
21 April 2015, Climate Council, Will Steffen: Unburnable Carbon: Why we need to leave fossil fuels in the ground.Stern Commission Review
Australia’s Garnaut Review
November 2014 – The Fossil Fuel Bailout: G20 subsidies for oil, gas and coal exploration report: Governments across the G20 countries are estimated to be spending $88 billion every year subsidising exploration for fossil fuels. Their exploration subsidies marry bad economics with potentially disastrous consequences for climate change. In effect, governments are propping up the development of oil, gas and coal reserves that cannot be exploited if the world is to avoid dangerous climate change. This report documents, for the first time, the scale and structure of fossil fuel exploration subsidies in the G20 countries. The evidence points to a publicly financed bailout for carbon-intensive companies, and support for uneconomic investments that could drive the planet far beyond the internationally agreed target of limiting global temperature increases to no more than 2ºC. It finds that, by providing subsidies for fossil fuel exploration, the G20 countries are creating a ‘triple-lose’ scenario. They are directing large volumes of finance into high-carbon assets that cannot be exploited without catastrophic climate effects. They are diverting investment from economic low-carbon alternatives such as solar, wind and hydro-power. And they are undermining the prospects for an ambitious climate deal in 2015. Access full report here For the summary on Australia’s susidisation of it’s fossil fuel industry go to page 51 of the report. The report said that the United States and Australia paid the highest level of national subsidies for exploration in the form of direct spending or tax breaks. Overall, G20 country spending on national subsidies was $23 billion. In Australia, this includes exploration funding for Geoscience Australia and tax deductions for mining and petroleum exploration. The report also classifies the Federal Government’s fuel rebate program for resources companies as a subsidy.
