Pages tagged "Economy"
Would ending new fossil fuel approvals be good for the economy?
It is indisputable that fossil fuels, produced and consumed anywhere on the globe, are gravely endangering the environment on which we all depend for our food, fresh water, oxygen, physical and mental health. And we know that alternative clean industries present Australia with enormous job and investment opportunities (if Australia remains globally competitive in clean energy industries). So why are we on track to open new projects?
The International Energy Agency (whose membership comprises major fossil fuel producing countries including Australia) determined that, to avoid that catastrophic outcome, the cutoff for approvals of new fossil fuel projects was 2021. Delaying this date any later will have increasingly costly consequences and will undermine our ability to provide a duty of care to all Australians.
Yet Prime Minister Albanese has claimed – without providing evidence – that if Australia took that momentous, desperately needed step, it would “devastate” our economy.
Is the PM correct? In a word, no.
Image Credit: Daniel Norris on UnsplashRead more