Antinuclear

Australia’s Renewable Energy Target review – a love letter for the coal industry

Renewable energy target review an exercise in fossil thinking “ SBS News, by Greg Jericho 1 Sept 14  Thus, clearly it needs to be completely gutted.…..In essence, the report finds that the RET is working very well – indeed, better than expected – and is having a minimal impact on prices. Moreover, it could even lead to lower electricity prices after 2020.

The report is a love letter for the coal industry. It argues that because demand for electricity is decreasing, coal and other non-renewable energy generators need to be protected from would-be new entrants – i.e. renewable energy entrants not new non-renewable ones.

It therefore recommends the scheme be stopped for any new entrants, which if the government agreed, would in a stroke kill any new investment in the industry and put at risk the returns on investments already made on the presumption the RET would not be changed. ….

It’s hard not to think Greg Hunt is in his job purely for window dressing. He was the bloke in the Liberal Party who seemed to actually agree with the science on climate change, and so Tony Abbot found him useful to placate that small section of would-be LNP voters who cared about the issue.

He kept his role as environment spokesperson in opposition and as Minister in government. The only price to pay was to trash everything he had previously advocated. It’s a price he has willingly – nay, eagerly – paid.

And thus far he has been the most redundant minister in the government. …..http://www.sbs.com.au/news/article/2014/09/01/comment-renewable-energy-target-review-exercise-fossil-thinking

September 2, 2014 - Posted by Christina Macpherson | General News