Australian news, and some related international items

Malcolm Turnbull’s son can’t vote Liberal because of their failure on climate change

Can’t vote Liberal ‘in good conscience‘: Alex Turnbull blasts climate stance , Brisbane Times, By Peter Hannam, 27 August 2018 Alex  Turnbull blamed “rent-seekers” backing the coal industry for felling his father Malcolm Turnbull as prime minister, saying it’s “impossible” to vote for the Liberal-National coalition “in good conscience” because of its climate stance.

In a wide-ranging interview just days after his father lost power in a party room putsch, the Singapore-based fund manager told Fairfax Media the Liberal Party faced being hijacked by financial interests that stood to make windfall profits if coal-related assets were bolstered by taxpayers.

Those interests “have their hooks into the Liberal Party … which has no money”, Mr Turnbull said, adding that returns could be “100 to 1” if policies fall investors’ way.

Mr Turnbull’s experience includes a stint at investment banking giant Goldman Sachs. Some of his work has also involved trading debt for Australian-based coal-fired power plants, giving him insights into that industry’s outlook.

“If you create such an environment – with such a high rate of return – you’ll see a lot more of that [influence peddling],” he said……..

“It’s impossible to vote for the LNP in good conscience,” Mr Turnbull said, adding he had no intention of entering politics himself. “My father fought the stupid and the stupid won.”

Mr Turnbull was also critical of the government’s overall climate action, saying that pulling the Paris Agreement – as conservative MPs and pundits have been demanding – was irrelevant at this point.

“It’s like being in a university course, final exams are coming and you haven’t done three-quarters of the work,” he said. “You’re going to fail anyway.”……

He predicted Labor’s left would keep that party “honest” on climate change.

Bill Shorten “doesn’t really care about climate change – he just wants the jobs”, Mr Turnbull said, adding that there were lots of them in Victoria and elsewhere as the renewable energy boom rolls on.

Two terms of federal Labor should mean Australia’s electricity sector “would have crossed the magic line” – such as exceeding 40 per cent of supply from wind and solar. “They’re not going to be able to go back.”

Taking serious action on climate change “should be the response of any sane leader”, he said.

August 29, 2018 - Posted by | AUSTRALIA - NATIONAL, climate change - global warming, politics

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