By Jo Nova
The current state of the Renewable Crash Test Dummy TransitionEveryone who can add up in Australia knows it can’t work, but the climate of fear stops them saying so. Last month a senior energy industry executive told the Australian Financial Review quietly that everyone believes [the 2030 target] will be missed, but nobody wants to say it. Apparently, even executives are being coerced into silence for fear of retribution. The insider referred to the “discretion” Ministers have on project approvals. It’s like a national mafia racket: “Nice business you have there — shame if you couldn’t get the permit”. So the Labor Party sets itself up to fail by silencing the people it could be listening to — as if the electricity will still be there when the turbines stop turning.
To put the size of the moonshot in perspective, even Federal Climate Change and Energy Minister Chris Bowen himself said the nation must “install 22,000 500-watt solar panels every day for eight years along with 40 seven-megawatt wind turbines every month”. In toto, we are supposed to build 44GW of “renewables” by 2030.
Instead of this frenetic pace, renewable energy investment ground to [...]