Gallilee Basin Coal - what madness

[pmrid (Peter)]

This paper makes very interesting reading against the background of the decision announced today.

http://www.ieefa.org/wp-content/uplo...April-2014.pdf

Peter

[Astro_Bot]

You sound surprised. Whilst we need to transition away from coal, we can't do it overnight. However, we could be doing it a lot faster then we are ... and today's decision isn't exactly helping. But what did you expect from a gubbmint that prioritises awards for knights and dames over World Heritage-listed forests and reefs? The worst part is that the last mob weren't much better, so what real choice do we have?

Our politicians are dinosaurs who wouldn't recognise good governance if it bit them in the ***.

Frankly, I'd like to line them all up against a wall and ..... speak quite harshly to them.

Oh well. This thread will undoubtedly attract more extremist views and get closed and/or deleted.

[Starless (Brian)]

Originally Posted by Astro_Bot

... But what did you expect from a gubbmint that prioritises awards for knights and dames over World Heritage-listed forests and reefs? The worst part is that the last mob weren't much better, so what real choice do we have?
...

Have to agree, it's a sad fact that our voting choices are limited to
a bunch of incompetant fools, a pack of self serving dirt bags or the watermelons.

[Stardrifter_WA]

Originally Posted by Starless

Have to agree, it's a sad fact that our voting choices are limited to
a bunch of incompetant fools, a pack of self serving dirt bags or the watermelons.

It is sad Choices would be nice.

[mithrandir (Andrew)]

Maybe they could take a lead from Stanford Uni.

Stanford University has become the largest higher-ed endowment in the country to announce a divestment related to fossil fuels. From Stanford’s statement to the press, released after a Board of Trustees decision:

Stanford has a responsibility as a global citizen to promote sustainability for our planet, and we work intensively to do so through our research, our educational programs and our campus operations," said Stanford President John Hennessy. "The university's review has concluded that coal is one of the most carbon-intensive methods of energy generation and that other sources can be readily substituted for it. Moving away from coal in the investment context is a small, but constructive, step while work continues, at Stanford and elsewhere, to develop broadly viable sustainable energy solutions for the future."

[pmrid (Peter)]

As the author of the Briefing Note I cited below reports, the market is already factoring in the end of coal. As he says, the share price performance of the major US coal companies is down 75-92% since 2011 alone at a time when US equity markets in the same period rose 40%. Chinese coal stocks are down 50% on average over the same [period and Australian companies 50-75%. The price of thermal coal is at a 4-year low down 45%, the US electricity generation system is transiting away from coal with 5.4 GW of coal-fired capacity closed with the regulator forecasting the further closure of 60GW in the next 6 years (over a quarter of the US coal fired capacity.

These are not isolated numbers. Somebody seems to have forgotten to tell the promoters of the Gallilee project.

Peter

[el_draco (Rom)]

Originally Posted by Astro_Bot

Our politicians are dinosaurs who wouldn't recognise good governance if it bit them in the ***.

Frankly, I'd like to line them all up against a wall and ..... speak quite harshly to them.

Sweet... I'd like to speak to them with a good length of TasOak... sourced from a sustainable plantation .... of course.