I think this economic argument is what is going to kill Australia's economy in about 6 - 10 years time.
We are so dead set on maintaining our resource sector, in particular coal, that there seems to be no acknowledge that a crash is coming.
Yes, the price is high right now, which is great as a producer. But at some point there will be an inflection: the high price of coal, vs decreasing renewables and improvements to grids will mean coal plants become less and less untenable.
The price will crash, we'll be left with a massive oversupply of both the resource and the infrastructure. The communities that pushed for coal mines because they provide employment are going to be left with nothing.
In the end, mines like the Adani's Carmichael mine will fail with only a small amount of the resources extracted.
This is a great result for the climate, more coal left in the ground, it's just an ass about way of doing it that's going to wreak havoc with our economy.
This crash hit hard small Estonia right now, the market is open and every technology has become cheaper. The only argument right now keeping it alive is security aspect and not having either good climate nor gas around there. Or money to build my nuclear
We are so dead set on maintaining our resource sector, in particular coal, that there seems to be no acknowledge that a crash is coming.
Yes, the price is high right now, which is great as a producer. But at some point there will be an inflection: the high price of coal, vs decreasing renewables and improvements to grids will mean coal plants become less and less untenable.
The price will crash, we'll be left with a massive oversupply of both the resource and the infrastructure. The communities that pushed for coal mines because they provide employment are going to be left with nothing.
In the end, mines like the Adani's Carmichael mine will fail with only a small amount of the resources extracted.
This is a great result for the climate, more coal left in the ground, it's just an ass about way of doing it that's going to wreak havoc with our economy.