Coal, conservatives, and craziness: Financial Review

Coal Mining

Privately owned electricity generators in Australia don't want to invest billions of dollars in new coal-fired power plants for the simple reason that renewable power with storage is cheaper and quicker to build. The idea that it doesn't make sense to place a 50-year bet on coal-fired generation in Australia, but it does in developing countries, is simply bizarre.

If AGL, the largest consumer of coal in Australia, can't make coal-fired powered stations stack up financially — even with near zero coal transport costs — how can anyone believe that coal will make sense in developing countries that have to cover all of the costs of getting their coal from Australia to Asia?

Read the Financial Review article 

See also: Australia's biggest companies failing to plan for climate change risks: report: ABC NEWS

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