Month: January 2023

Planned Failure: Wind Power Obsession Leaves Britain’s Power Supply On Brink Of Collapse

You know policymakers have lost the plot when they start waxing lyrical about battery storage and ‘green’ hydrogen; neither of which exist at any scale; neither of which are even vaguely economic, even with massive taxpayer-funded subsidies to prop them up. English dictionary doyen, Samuel Johnson reckoned that patriotism is the last refuge of scoundrels,… Continue reading Planned Failure: Wind Power Obsession Leaves Britain’s Power Supply On Brink Of Collapse

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January 12, 2023 at 12:30AM

Thursday Open Thread

Thursday Open Thread

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January 11, 2023 at 09:03PM

Climate Champion China Resumes Aussie Imports, Burning Record Amounts of Coal

Essay by Eric Worrall

Nothing says green hero like burning coal at a faster rate than any country has ever burned coal in the history of mankind – and still pedal to the metal to further boost coal mining.

China boosts coal output, eases Australia ban to bolster energy security

By Muyu Xu
January 9, 20235:00 PM GMT+10

SINGAPORE, Jan 9 (Reuters) – The increasing need to secure energy supplies after easing COVID-19 restrictions has pushed China to gradually resume Australian coal imports and urge domestic miners to boost their already record output.

The lifting of the unofficial ban on Australian coal imports, which were halted in 2020 in a fit of Chinese pique over questions on COVID’s origins, is the clearest sign yet of the renewed ties between them.

The resumption is also a reminder of their economic interdependence as Australia’s raw materials play a crucial role in fuelling the export-oriented economy of China, the world’s biggest coal consumer and producer.

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Rising prices amid the Russian sanctions and an expected jump in Chinese coal demand – as much 2% more in 2023 than last year, according to Wood Mackenzie analysts – after the end of its COVID restrictions has renewed the energy security concerns.

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Read more: https://www.reuters.com/markets/commodities/china-boosts-coal-output-eases-australia-ban-bolster-energy-security-2023-01-09/

Greens frequently claim China is a climate champion, though they worry China might not be ambitious enough.

Is China doing enough to combat the climate crisis?

While it appears committed to renewable energy goals, China’s international commitments fall short of what experts say is needed

Helen Davidson @heldavidson Fri 11 Nov 2022 18.55 AEDT

After decades of fossil fuel-driven economic growth and industrialisation, China is now the world’s biggest carbon emitter, contributing almost a third of the world’s greenhouse gases in 2020.

It is also the most exposed to the impact of the climate crisis, in terms of its population size and number of environmental disasters, according to UN figures. Average temperatures and sea levels have risen faster than global averages, and in just one year since Cop26, China has experienced record-breaking floods and heatwaves, bringing with them severe energy crises.

China’s government has signed up to global climate pledges and is a big driver of renewable energy, but like with many countries, experts have raised concerns over the scale of the cuts.

“It is complicated,” said the Trivium analyst Cory Combs. “The general summary is: they are genuinely ambitious but also probably not enough.”

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Read more: https://www.theguardian.com/world/2022/nov/11/china-climate-crisis-renewable-energy-goals

Greens seem to have a soft spot for dictators.

If Chiang Kai-shek had won the war with Chairman Mao, if all China was democratic and free like Taiwan, in my opinion there is no way greens would give them any kind of pass for burning so much coal.

But since China are totalitarian communists, that seems to earn them extra consideration when it comes to relations with the green movement.

Many greens are hostile towards representative democracy, and sometimes fantasise that totalitarian thugocracies like China have the most potential to achieve the climate societal reforms they crave – even if their wannabe green champion China currently appears to be headed in the wrong direction, for now.

To be fair, the Chinese Communists genuinely attempted to cut CO2 emissions in 2021 by imposing coal quotas, but were forced to back down when everyone burned through their quotas, and their economy ran out of energy.

Despite this failure, greens appear determined to cling to the idea dictators have complete freedom to force changes on society. But even dictators have to respond to popular unrest when the problems get bad enough, as demonstrated by the green backdown in 2021, and the recent Chinese Communist Party surrender to Covid lockdown protestors.

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January 11, 2023 at 08:48PM

$30 Billion Sun Cable Solar Mega Project Enters Administration

Essay by Eric Worrall

Sun Cable, which planed to export up to 20GW of solar energy from the Australian outback to Singapore, has entered voluntary administration after an unresolvable dispute between backers.

Sun Cable collapses after dispute between billionaire investors Andrew Forrest and Mike Cannon-Brookes

By business reporters David Chau and Michael Janda

Sun Cable, the company behind a massive solar farm and power export project planned for the Northern Territory, has gone into voluntary administration.

Key points:

  • The company’s ambition was to build the world’s largest solar project
  • Its plan was to build a giant 20-gigawatt solar farm in the NT
  • Sun Cable also wanted to build a 4,200-kilometre-long subsea cable to Singapore

The company, whose major investors include billionaires Mike Cannon-Brookes and Andrew “Twiggy” Forrest, provided a vague statement about why it collapsed:

“The appointment followed the absence of alignment with the objectives of all shareholders,” it said. 

“Whilst funding proposals were provided, consensus on the future direction and funding structure of the company could not be achieved.”

The ABC understands that Sun Cable’s major investors, Mr Forrest and Mr Cannon-Brookes, had disagreements about the funding and direction of the company.

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Read more: https://www.abc.net.au/news/2023-01-11/sun-cable-enters-administration/101845100

I don’t have details about what went wrong, but given the gap between raised capital vs how much they needed, my guess is the problem was a dispute between the backers about how much of their own money they should invest in the project, and which bits should be built first, to keep the project moving forward.

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January 11, 2023 at 04:15PM