Coal Sector Reveals Flaws in Gillard’s Carbon Package
July 14, 2011 4:33 PM EST
The relative funding allocated to carbon capture and storage (CCS) technologies reflects how out of step Australia is becoming with the approach of the rest of the world to tackling climate change, the nation’s coal sector has criticised. The Government was allocating over $13.2 billion of funding to renewable technologies and less than $2 billion to CCS.
Stressing on the importance of CCS, Ralph Hillman, Executive Director the Australian Coal Association (ACA) said “The International Energy Agency has found that CCS could deliver around 20% of global abatement by 2050 – and given Australia’s reliance on fossil fuels we can expect this figure to be higher in the domestic context.
Importantly, the International Energy Agency also found that without CCS the cost of halving global emissions by 2050 would be 70% higher”
However, according to Mr Hillman, a key technology that could significantly reduce global emissions is shunned because of the Greens ideological opposition to coal mining.
“The Greens are conveniently ignoring the fact that CCS is not just a coal technology but can be applied to a range of emissions-intensive processes.”
The Treasury modelling also clearly demonstrates that it is not only the environment that will lose out with Australia’s Gross National Income up to 0.5% less if CCS is not developed, he said.
“According Treasury’s own figures, CCS applied to gas and coal-fired power will provide around 30% of our power generation by 2050 and renewables 40%, with half of this underpinned by mandatory targets. Yet CCS is receiving, we estimate, around 13% of the available funding support.
“Alarmingly these figures do not take into account the estimated $20 billion in support, through the Renewable Energy Target, that is targeted exclusively at renewables as well,” Mr Hillman added.
To contact the editor, e-mail:
Most Popular Slideshows
- Taylor Swift Named Forbes' Second Highest Paid Country Musician [PHOTOS]
- Forever Lost: Indescribable Anguish for Malaysia Airlines MH17 Families, Remains of Some Victims May Never Be Found (PHOTOS)
- Celebrities Who Got Pregnant Using IVF: Busting the Myths About IVF
- PageSix: Beyonce & Jay Z Union is Not About Love, All About Business & the Brand
Join the Conversation
- Australia Asked National Media to Suppress Multi-National Corruption Case: WikiLeaks
- Opinion Poll in New Zealand Shows National Party Far Ahead in Popular Support
- U.S. ‘Defends’ Israel for ‘Disgraceful’ Attack on UN School in Gaza that Killed 15
- Gold in China: 127-Tonne Gold Reserves Tapped in Xinjiang
- NSW Braces for Severe Weather Condition
- Freshly Leaked Apple iPad Air 2 Cases Confirm Touch ID Sensor; Release Date, Limited Specs and Price Listed
- Moto X Android 4.4.4 KitKat Update Guide: Schedule and How to Install
- Top 4 Reasons Why iPhone 6 Will Hit Big Soon After its Sept 2014 Release Date
- Top Surprising Features Of iOS 8
- Twin Malaysia Airlines MH370, MH17 Aviation Disasters Create Phobia Among Travellers
- OnePlus One vs. Moto X+1 – Early Specifications, Release Date and Price Faceoff
- 2014 Ebola Outbreak: ‘Out of control… and Can Get Worse'; Asky Airline Stops Flying to Liberia, Sierra Leone; Liberia Closes Schools