There's another opportunity here .
Some posters complain that most of our mining/energy companies are foreign owned. So, even though they make big profits, the profits head overseas.
It is estimated that profits from mining exports barely cover the cost of importing fuel into Australia. And, given that Australians only own a small percentage of those mining profits,, we are going backwards.
Green hydrogen, green steel, green aluminium is a new emerging industry in Australia that has the potential to be huge.
Here's the governments opportunity to turn that around. While I don't think nationalization is a good thing, it is an option. But what is sensible is utilizing the green hydrogen/electricity industry and electrifying Australia's transport fleet and industrial heating requirements asap . The synergies are significant.
We get a large financial benefit from reduced fuel imports, we get the energy security bonus that comes with that , we get a decent co2 emissions reduction, we develop a huge V2G resource almost for free and because of the increased load and we help maximise the renewable industry via economies of scale.
So, Australia get's a significant economic benefit, positions itself well for a global industry for the next century, reinvents it's entire power industry and gets serious global kudos for emission reductions all in the one go.
All before coal exports drop off to nothing in the future.
While I this senate inquiry will probably be a waste of time, it might stimulate them into considering other nation building projects.
I think it's great that entrepreneurs like Twiggy and Mike Cannon Brookes are leading the charge. However, they should be just the tip of the spear with the government right behind them.
Some pretty big opportunities for government leadership here.
