Is the Aus economy slowly imploding?

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May 13, 2008
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Coal generates 40-60 billion in exports. Renewable energy will not replace that income. It will actually cost us more as we have to import all of the solar panels and appalling wind turbines.

Who advocating closing down the coal industry, Labor certainly isn’t.

Make no mistake though, someone is going to find the magic solution to the worlds energy challenge and your $40-60b export market is going to disappear overnight. China will not need much encouragement to dump their share.

Australia has its head in the sand.
 

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Nov 14, 2020
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Who advocating closing down the coal industry, Labor certainly isn’t.

Make no mistake though, someone is going to find the magic solution to the worlds energy challenge and your $40-60b export market is going to disappear overnight. China will not need much encouragement to dump their share.

Australia has its head in the sand.
We then get used to life without Medicare & social security. People's retirement lifestyle will be at the whim of the markets. Nothing bad has ever happened from that.
 
Jun 30, 2009
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Labor will destroy the coal industry within months of coming to office. The hysteria about Australia's supposed lack of action is growing and this is the sort of thing that Laborites love, kissing the ass of the Europeans. Labor knows they will get two terms in office, and most of the experience in the LNP would have retired, so they will be taking on an inexperienced LNP team.

China, has come out and said they will not agree to any reductions by 2050, and that they will continue to do as they please. So Australia has to wreck what is left of its economy, but China, the largest Co2 polluter will just walk away. How typical.
Lol - europe will not allow dirty steel after 2030.

allyou see is problems- all i see are opportunities
 
Jun 30, 2009
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If they are too expensive in other countries compared to what we could produce here then we wouldn’t need subsidies now would we. Unless ofcourse they are expensive because that’s how much they cost to make.


and no not every car industry in the world gets subsidies. Only the ones who shouldn’t exist. And our car subsidies were ridiculously enormous. It wasn’t like a 5 percent subsidy. They were a national disgrace that made every tax payers life worse off.

we are all better for our sh*t car industry being gone.
Still waiting for the country that doesnt subsidise its car industry seeds.
 
Aug 14, 2011
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lol - I’m sure that is what it is 🙄

Let’s not forget Biden refused to meet Morrison one on one at the G20 as well - insisted Boris was there. No one is taking Australia seriously right now.

Should we be taken seriously on the world stage ? Other than a frail ego, why is it important ...
 
Aug 14, 2011
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Interesting take.

Right now we are in some sort of diplomatic war with China (who will not take our calls) while we hide behind the USA (who will not take our calls)

Seems a little dystopian

Alot dystopian.
See the initial support for Morrison when he shot his mouth off, it wasnt along party lines (cue the denialists).
 
Nov 14, 2020
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Alot dystopian.
See the initial support for Morrison when he shot his mouth off, it wasnt along party lines (cue the denialists).
NZ are the big winners. Told the US and their nuclear vessels to f*ck off in the 80's, and their exports to China are booming.
We blindly followed the US to Vietnam, Iraq X 2, Afghanistan and all it has achieved are dead soldiers and created ISIS. Well done.
 
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Aug 14, 2011
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NZ are the big winners. Told the US and their nuclear vessels to f*ck off in the 80's, and their exports to China are booming.
We blindly followed the US to Vietnam, Iraq X 2, Afghanistan and all it has achieved are dead soldiers and created ISIS. Well done.

NZ? They are as relevant internationally as we are. Our mineral wealth is our only claim to relevance.
 
Jun 30, 2009
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The fact other countries do it does not change the fact it’s a massive cost on our society and makes everyone poorer. Not one bit. jumping Off a cliff doesnt hurt any less just cos your mates did it.
So im guessing the billions we subsidise fossil fuels with make you really angry.

10 billion this year.

More than we spend on the australian army.
 

So you Europe as an opportunity? Getting the opportunity from the white board to the Australia is the big ask.

Issue is EU retailers and brand owners are telling Chinese manufacturers that they need to move to green energy manufacturing by 2030 or they move

Sooner we accept this train is leaving the station and adapt the better
 
Aug 14, 2011
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Issue is EU retailers and brand owners are telling Chinese manufacturers that they need to move to green energy manufacturing by 2030 or they move

Sooner we accept this train is leaving the station and adapt the better

For us its about iron ore, we are not going to have enough energy to keep the lights on to think we can operate our current (meagre) steel industry.

I agree with your description of the train leaving the station & our need to adapt.
 
Jun 30, 2009
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Rubbery figures ...


Australian fossil fuel subsidies hit $10.3 billion in 2020-21
April 26, 2021
Fossil fuel subsidies cost Australians a staggering $10.3 billion in FY 2020-21 with one Commonwealth tax break alone ($7.84 billion) exceeding the $7.82 billion spent on the Australian Army, according to research released today by The Australia Institute.

In fact, $10.3 billion in Government subsidies means that in 2020, every minute of every day $19,686 was effectively given to coal, oil and gas companies and major users of fossil fuels.

Key findings:

  • The Commonwealth’s main tax break to major fossil fuel users cost $7.84 billion, exceeding the $7.82 billion spent on the Australian Army
  • In fact, $10.3 billion in Government subsidies means that in 2020, this equates to $19,686 per minute effectively given to coal, oil and gas companies and major users of fossil fuels
  • State Governments spent $1.2 billion mainly through subsidising exploration, refurbishing coal ports, railways and power stations and funding ‘clean coal’ research.
    • State governments continue to pour money into coal ports and railways despite Queensland Treasury advice that ‘spending on mining related infrastructure means less infrastructure spending on hospitals and schools’.
  • $8.3 billion in assistance is already committed to longer term fossil fuel subsidies, led by the NT government’s $3.8 billion gas purchase from Italian oil and gas company Eni.
“Coal, oil and gas companies in Australia give the impression that they are major contributors to the Australian economy, but our research shows that they are major recipients of government funds,” said Rod Campbell, Research Director at The Australia Institute.

“From a climate perspective this is inexcusable and from an economic perspective it is irresponsible. The major subsidies are Commonwealth tax breaks that mean the largest users of fossil fuels get a refund worth $7.8 billion on a tax that the rest of the community has to pay.

“This tax break not only funneled $1.5 billion to the coal and gas industries last year, but it made it cheaper for them to export fossil fuel to the rest of the world.

“A few years ago such subsidies would have been announced quietly, but now they’re central to government policy. Australia is increasing fossil fuel subsides, while the Biden administration is committing to phase them out. Yet again, Australian governments are going against the tide of global trends and good climate policy,” Mr Campbell said.

Further examples of state subsidies

  • Queensland upgraded its coal and gas power stations, ran a ‘mine dozer replacement program’ and provided other assistance measures worth $744 million last year, only slightly less than the $818 million spent on Fire and Emergency Services.
  • Over the longer term, the Northern Territory is the biggest backer of the gas industry, with almost $4 billion committed to an offshore gas project and $1 billion for pipelines.
  • Western Australia is spending hundreds of millions on fossil fuel-fired power stations, including $93 million on a gas-fired power station in a town of 848 people in partnership with Chevron.
  • New South Wales is putting $100 million into ‘coal innovation’, but much of the research remains mysteriously unpublished, such as a cost benefit analysis of carbon capture and storage in the state.
  • Victoria is spending $8.8 million to re-start an onshore gas industry and develop a ‘gas roadmap’, spending dwarfed by the $100 million going to turn brown coal into hydrogen and export it to Japan.
  • South Australia put $10.5 million into a program that aims to accelerate gas exploration and has also budgeted $30 million for a jetty mainly used by gas company Santos.
  • Tasmania’s 2020-21 budget has no clear assistance for fossil fuels, although $73,000 was given to coal companies in 2019.
  • The ACT is the only jurisdiction in Australia with no subsidies for fossil fuels, along with the most ambitious climate targets in the country.
 
Jun 30, 2009
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