Just how much of Australia’s coal should we export or allow to be burned and what is the implication for Australia’s economy if we leave our current reserves in the ground?
Well, the latest report from Carbon Tracker Initiative deals with just this issue and follows hard on their report regarding the investment bubble in the fossil fuel industry (www.carbontracker.org).
The report on Australia’s coal reserves labels Oz as a “carbon bomb”. If we burn our reserves (or sell to someone else to burn) Australia would be responsible for 150 Gigatonnes of CO2 emissions or roughly one third of the total world budget.
Climate Progress has a round up in their own inimitable style here:-
Scientists have been telling us for a long time now that we need to replace our fossil fuels. Lets make it a priority for this election to have a plan for this replacement, for the shutting down of our coal mining, even of our gas industry. There is no reason why we cannot change over to renewables on a nation-wide scale.