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Published: Monday 15 July, 2013

isabel marant sneaker outlet isabel marant sneaker outlet Cutting greenhouse gases

Australia has enough coal to last for hundreds of years. Yesterdays energy policy is all about finding ways of using it. The strength of yesterdays energy policy is that much of it reflects a hardheaded assessment of Australias selfinterest as an energy exporter, and how we can make the most of our assets.

The weakness is that most of its spending is on a softheaded, populist tax cut to make it cheaper for business to use and waste energy.

And while there is a token effort to balance the fossilfuel and renewableenergy sectors, in reality the policy turns its back on the renewableenergy future to focus on prolonging the fossilfuel present.

Lets be clear about this: the latter goal is in Australias interest. The white paper spells out our massive stake in fossil fuels. At current production levels, on a conservative measure, Australia has more than 100 years supply of black coal and 560 years supply of brown coal.

As John Howard said yesterday, we dont want to have to leave all that coal in the ground.

But global warming is a reality and coalfired emissions are a prime cause.

For coal to have a future, we must urgently find ways to dramatically cut greenhouse gas emissions.

Switching to renewable energy is one way, but for no isabel marant sneaker outlet w a pricey one. The Governments main focus is on other options: increasing the efficiency of energyintensive operations and funding energysaving technologies. So it will spend $500 million over 15 years to subsidise the development of lowemission technologies with the potential to significantly reduce greenhouse gases.

The criteria favour no one technology, but the Governments clear favourite is geosequestration separating carbon dioxide from power station emissions and burying it underground or offshore.

The white paper declares strongly for geosequestration, saying: This technology is the key to low emissions use of fossil fuels. But it adds that much of the technology does not yet exist, let alone been proved commercially viable or a safe storage system.

It admits it will be at least 10 years some say 20 or more before we will know if it is a longterm solution. And industry sources warn that without mandatory targets, the subsidy could be too low to attract private investment.

Most of the new measures are surprisingly small. There is $100 million over seven years isabel marant sneaker outlet for renewable energy initiatives, and $75 million for a Solar Cities trial to equip households in different cities with solar panels and timeofuse meters to test if solar energy is costeffective in reducing electricity use.

These programs are dwarfed by the bigticket item: a tax credit to exempt business from paying any excise on petrol, diesel an isabel marant sneaker outlet d gas used for nontransport purposes. That will cost $650 million a year from 201213. And it will clearly increase the emissions the rest of the policy is trying to lower.

On roads, the Government has scrapped fuel concessions. On climate change, it has done the reverse. Why?

Its rejection of higher targets for renewable energy will remove the incentive for industry to invest, and send that growth offshore. And with no alternative to Kyoto, this risks adding to the global warming already affecting Australian farms and water supplies. isabel marant sneaker outlet