HOW THE LUCKY COUNTRY BECAME THE STUPID COUNTRY
The above might be the title of a book that could, appropriately, be co-authored by Albozo the clown and Blackout Bowen. Arguably they are leading the country down the road to stupidity!
In an article in The Aus today (p21) Robert Gottliebsen touched on this theme.
He said that US energy strategy and an explosion in the cost of many renewables projects have changed the energy game. Countries that don’t recognize the change – Australia??? – will suffer.
He reported that BP and Shell are pulling back from renewables investments (remember not so long ago when BP proudly proclaimed that BP stood for “Beyond Petroleum”). But both BP and Shell have apparently burnt their fingers on renewables and could be takeover targets by cash rich M-E countries – like the bid Santos has received.
RG says the world is now turning to Nuclear as the lowest cost and most reliable producer of non-carbon energy. SMRs and thorium reactors will be part of this development. BHP may be a major beneficiary because it has large uranium and copper deposits in South Aust.
Australiamight make heaps from the export of uranium but (unless bans are lifted) we will not be able to use it to produce electricity.
Under present policies we will have the highest cost electricity in the world. The high power prices will send even more industry and jobs offshore. Hence RG’s line that the lucky country becomes the stupid country.
MY COMMENT
RG says the world is turning to nuclear. China certainly is but is still heavily into operating and building coal fired power stations (CFPS). These have an operating life of up to 60 years so it looks as though coal will still be needed for many years to come
I would be interested to know how the costs and benefits of CFPS compare with the costs and benefits of NPS.
Wonder what Ian Plimer thinks given his opinion that CO2 does not cause global warming/climate change. And I wonder what Greta Thunberg thinks?
Food for thought.
