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THE fuss this week about the purchase of 43 farms in the Liverpool Plains by Chinese miner Shenhua Watermark ignores the biggest warning.
These farms, northwest of Sydney, actually lie over a big coal deposit.

That's the message. China has decided it doesn't just want to buy our coal exports but the mines themselves, to make as sure as it can that it will have coal for decades to come.

Has the penny dropped with you yet? That's right: China has shown that the Gillard Government deceived you in selling its carbon dioxide tax.

It actually plans to burn a lot more coal, not less, because only an idiot would "de-carbon" the economy and switch to ruinously more expensive sources of power. An idiot like a Labor politician.

Now step back. Remember in March, when PM Julia Gillard tried to pretend China was trying as hard as we were to cut the emissions she claims are heating the world dangerously?

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Related CoverageThe pro-carbon tax bandwagon grows Herald Sun, 30 May 2011
'Dirty coal' likely to fill supply hole The Australian, 25 May 2011
Gas chief slams Greens' opposition' The Australian, 24 May 2011
LNG exports better than carbon tax Perth Now, 10 Apr 2011
World searches for consensus The Australian, 8 Apr 2011
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"The rest of the world is moving," she lied. "China, closing down a dirty coal-fired power generation facility at the rate of one every one to two weeks, putting up a wind turbine at the rate of one every hour ... "

Now for the truth. Those dirty coal-fired power station China has closed have been replaced with much cheaper and bigger ones, emitting more greenhouses gases, not less.

This is why the Productivity Commission this month conceded China's emissions will soar for years to come. Indeed, its extra emissions will dwarf in a month any sacrifice we make over the next decade.

Just follow the money. China is buying access to our coal deposits because it plans to use more coal, not less.

Now consider our stupidity. While China plans to use more Australian coal, Labor and its Greens allies want to force us to ultimately use none, by hitting us with a carbon dioxide tax that China has zero intention of imposing itself.

If it all works out to plan, China will use the cheap Australian coal that Australia will forbid itself.