Barnaby Joyce's costly gamble on coal, page-3

First 3 Last

Share
Profile

Follow
DD72

4,581 Posts.

509

12/07/21

08:07

Post #: 54431839
Share
Originally posted by raiderup: ↑

Barnaby Joyce's costly gamble on coal

It makes no sense to build a new coal power station in Queensland when existing coal stations are in financial trouble.

Queensland's budget papers reveal that state-owned coal power stations will stop providing returns in just two years.
Coal-fired power stations are having a hard time staying profitable because cheaper solar and wind energy is driving down the wholesale price of electricity.
Building a new coal-fired power station would be a costly exercise requiring significant government handouts.
What's worse, by dragging the conversation back to coal, the Nationals are denying regional Australians the chance to diversify and future-proof local economies.
In the new world economy, Australia's impressive solar and wind resources, and key mineral deposits, are a competitive advantage that could see us processing and manufacturing materials for the electric vehicle boom.
Plus, we have all the ingredients to become a clean energy superpower and start exporting renewable hydrogen fuel to power cities across the world.

The proposal to build a new 1000MW coal plant in North Queensland, which is being championed by members of the Nationals, would cost more than $3.3 billion.
For that same money, we could build:
2860MW of large-scale solar - enough to power 1.3 million homes.
1840MW of four-hour battery storage - big batteries are designed to respond instantly to grid disturbances and can keep the lights on when power plants fail.
1430MW of six-hour pumped hydro - storage options like pumped hydro can soak up excess solar energy during the day and generate energy at night.
If Barnaby and his coal-loving colleagues truly stand for regional Australians, they would be better investing in affordable renewable energy and local manufacturing.

https://www.canberratimes.com.au/story/7333390/barnaby-joyces-costly-gamble-on-coal-our-future/?cs=14264&utm_source=website&utm_medium=home&utm_campaign=latestnews

Raider

Expand

I have to agree with you there Raider.

Coal is not the option going forward, but with large gas reserves in respective Queensland basins around FNQ, I see gas as a viable alternative.

DD
2 Upvote

Reply

Top Stories

PSC

Prospect's Mumbezhi Project puts it at the middle of copper's megatrend. And FQM just bought in

HotCopper Highlights: Trigg; Droneshield; Lumos & more

SER

Strategic Energy extends its QLD copper-gold frontier with Diamantina acquisition

ASX Market Open: Can we squeeze one more record reset into Week 29? | July 18

BDM

Burgundy plunges -20% after turning to layoffs to navigate record-low diamond prices

AII

A new NASDAQ listing for a key player in the global critical minerals space

STN

Saturn brings up seventh straight Apollo Hill upgrade on 'impressive' 300-hole drill run

DRO

History repeats for DroneShield investors but carnage so far subdued

Listen: HotCopper Wire Podcast 018 – Potatoes, TACOs, and the $120M helicopter heist

SYR

Syrah jumps +19% as graphite tariff threat spurs optimism down under

First 3 Last

Barnaby Joyce's costly gamble on coal, page-3

Prospect's Mumbezhi Project puts it at the middle of copper's megatrend. And FQM just bought in

HotCopper Highlights: Trigg; Droneshield; Lumos & more

Strategic Energy extends its QLD copper-gold frontier with Diamantina acquisition

ASX Market Open: Can we squeeze one more record reset into Week 29? | July 18

Burgundy plunges -20% after turning to layoffs to navigate record-low diamond prices

A new NASDAQ listing for a key player in the global critical minerals space

Saturn brings up seventh straight Apollo Hill upgrade on 'impressive' 300-hole drill run

History repeats for DroneShield investors but carnage so far subdued

Listen: HotCopper Wire Podcast 018 – Potatoes, TACOs, and the $120M helicopter heist

Syrah jumps +19% as graphite tariff threat spurs optimism down under

Featured News

Featured News

Barnaby Joyce's costly gamble on coal, page-3

Top Stories

Prospect's Mumbezhi Project puts it at the middle of copper's megatrend. And FQM just bought in

HotCopper Highlights: Trigg; Droneshield; Lumos & more

Strategic Energy extends its QLD copper-gold frontier with Diamantina acquisition

ASX Market Open: Can we squeeze one more record reset into Week 29? | July 18

Burgundy plunges -20% after turning to layoffs to navigate record-low diamond prices

A new NASDAQ listing for a key player in the global critical minerals space

Saturn brings up seventh straight Apollo Hill upgrade on 'impressive' 300-hole drill run

History repeats for DroneShield investors but carnage so far subdued

Listen: HotCopper Wire Podcast 018 – Potatoes, TACOs, and the $120M helicopter heist

Syrah jumps +19% as graphite tariff threat spurs optimism down under

Featured News

Featured News