Critical minerals processing, battery technologies, Green hydrogen, and green metals key priorities for Australia says Australian Treasurer

Treasurer Jim Chalmers on ABC Insiders 5 November 2023

On 2 November Australian Treasurer Jim Chalmers outlined in a speech major direction and priorities for the Labor Government with regard to Climate Policy, Energy policy and Industry Policy. 

Australia's abundance of cheap renewable energy sources gives a definite global advantage in refining and processing critical minerals, manufacturing of batteries and other storage technologies, producing green hydrogen for adding value in energy intensive metals production like green steel and green aluminium.

Here is what the Treasurer said:

To make it very clear, in making decisions about net zero industry policy we will now be guided by these tests:

• Whether Australia can be competitive in the industry, by leveraging and building up our comparative advantages.
• Whether it contributes to an efficient and orderly pathway to net zero.
• Whether it builds the capabilities and resilience of people and regions.
• Whether it improves Australia’s national security and economic resilience and supports the strategic objectives of our global partners.
• And whether it recognises the key role of the private sector and delivers genuine value for money for government.

Applying these five principles has led us to four initial priority areas. All underpinned by and dependant on abundant, cheap, reliable, renewable energy.

• Refining and processing critical minerals.
• Supporting manufacturing of generation and storage technologies, including batteries.
• Producing renewable hydrogen and its derivatives like ammonia.
• And forging green metals.

Storms and flooding for Melbourne Cup day, but media dares not mention climate change

Melbourne Cup day dawned with rain falling. Storms escalated with torrential rain through the morning. Power outages, train disruptions, flashflooding of stations and many low lying roads across the city eventuated. But the mainstream media failed to add 2 + 2 with the influence of climate change in this extreme weather event.

The previous day racing officials had ordered more racetrack irrigation overnight to reduce the firmness of the track. Perhaps they should have checked the weather forecast.

Intense rain events are becoming more frequent, the science is clear not only from models but also observational data. Part of the reason for this is a Warmer atmosphere that can carry more moisture. For every 1 degrees Celsius of warming the extra atmospheric carrying capacity is increased by an extra 6-7 per cent. So heavier rain. That means more flash flooding.

What impact #sealevelrise on Melbourne's privatised port facilities?

The Andrews Victorian state government has been successful with the sale of the Port of Melbourne for $9.7 billion, an election promise. The government had been expecting around $7 billion for the asset. Technically, its not a sale, but a 50 year lease of the port’s commercial operations. The long term lease of Australia's largest port facilities had bipartisan support, with the State Liberal Party, when in power, doing much of the initial paperwork to bring about the privatisation.

The new owners of the Port of Melbourne are the Lonsdale consortium which includes the Queensland Investment Corporation, the Future Fund, GIP and OMERS.

This is another public asset sale deriving from neoliberalism which has had the support of both major political parties. There are really very few state owned assets left to flog now.

The money will be a windfall gain for the state's budget, but it sacrifices future revenue and control of Port infrastructure. The port is a major gateway for imports and exports and holds a near monopoly position. Being at sea level, the port facilities are extremely vulnerable to sea level rise due to climate change.

Export solar not coal, a 21st century Australian infrastructure project

This article was originally published at nofibs.com.au

If our Australian political leaders had any vision they might consider a 21st century renewables energy scheme similar in scope and vision to the Snowy Mountains Hydro scheme, for northern Australia, and linking us with some of our northern neighbours.

Instead we have seen political pandering to the greed of fossil fuel companies, like the Chinese state owned company Shenhua proposing to develop the Watermark open cut coal mine on the fertile Liverpool Plains of NSW, with the dangers to groundwater, wildlife and agricultural productivity and food security.

Or the Indian conglomerate Adani that wants to develop the giant Carmichael coal mine in the Galilee basin of Queensland and hires Labor and Liberal staffers to make its case. Development of the Galilee basin coalfields by Adani and other Coal barons will enhance climate change and help drive destruction of World Heritage listed Great Barrier Reef.