By Jo Nova
Welcome to Futility IslandShut down Australia and save 0.01 degrees.
Australia’s role as the Global Renewables Crash Test Dummy continues.
Having installed more renewables per capita than anywhere on Earth, our PM declared that the decade of doing nothing was over. It was time to crash faster, or something.
So, the revamped Australian carbon tax called the Safeguard Mechanism does everything it isn’t supposed to. Gas and electricity prices will rise, climate targets will be harder to reach, the grid will get more unstable, and investors will run a mile now that new gas fields have to be “net zero” — meaning presumably they will have to buy carbon credits before they sell their first cubic meter of gas. The field of ineptitude even reaches overseas — with less gas for sale — our trading partners will just buy more coal.
Australia will spend even more billions to win a fashion contest at UN dinner parties and cool the world by 0.0 degrees C.
The Australian Electricity market melted down last winter, and stopped trading, because we didn’t have enough gas for the artificial “transition”. Even the hard-left AEMO — our climate activist electricity [...]
