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cheesepope

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28/04/24

20:33

Post #: 73546936
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Originally posted by kazman11: ↑

The Inflation Reduction Act 2022 is a AUD $520billion dollar initiative to move towards decarbonisation and net zero. That is only for the US. Imagine when the rest of the world catches up for similar Acts in their own jurisdictions. Hence BHP is going madly after copper and everyone else after rare earths as well. Funnily enough, the cost of coal is also increasing, be it metallurgical or thermal. That is due to not enough supply coming into the market.

Increasing interest rates is only going to increase misery for people. A lot of Australia still rents. All landlords will do is increase rents to cover mortgage payments. All landlords are doing is increasing it by the same amount that banks will be charging interest rate repayments. Therefore increasing interest rates are not going to be the answer.

The idea is to reduce energy costs for transportation, be it electrification of trucking routes or transportation to reduce food costs, cost to transport building materials etc to the right locations to build more houses. If you dont do that, people pay more for food, people pay more for building costs. Whatever you say, our lives are all dependant on the Price of Oil. And yes we are not increasing supply, hence demand will go up causing people to eventually transition to electrified methods of transportation. This is the whole idea. We are still going to get the masses to pay for electricfication, be it taxes or via legal mandating methods.

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