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More Wheels Fall Off the Climate Bandwagon

First the world’s biggest banks, now Australia’s peak industry body.

There goes another one. The Good Oil. Photoshop by Lushington Brady.

The wheels are falling off the climate bandwagon faster by the day. Only last week, dozens of the biggest banks in the world fled the UN’s ‘Net-Zero Banking Alliance’. The Big Four Australian banks are yet to summon the courage to walk away, too, but the momentum against ‘Net Zero’ is building in the business sector. Just as businesses are fleeing wokeness, money is talking back to the Climate Cult.

It was inevitable, really: pandering and virtue-signalling are all well and good, but, in the end, the harsh reality of business was always going to bite. Just as it did with Julia Gillard’s carbon tax, a crashing bottom line is waking up business groups to the lunacy of ‘Net Zero’.

The nation’s largest business body is predicting Labor will have to ­revisit its renewables target of 82 per cent by 2030 amid crippling energy prices and looming supply shortfalls, calling on Anthony ­Albanese to hold urgent talks with gas executives to “unleash the shackles” of the resource so it can play a bigger role in Australia’s electricity sector.

Of course, being the wet, weak cowards that they are, they’re still pussyfooting. Instead of telling ’em to get stuffed, business is begging Labor to at least get half a finger-nail grip on reality.

While stressing ACCI was ­supportive of the Paris agreement and the transition to net-zero emissions by 2050, [Australian Chamber of Commerce and Industry chief executive Andrew McKellar] said he was doubtful the 82 per cent renewables target was ­realistic.

“The target of getting to 82 per cent of renewable energy by 2030. Is that realistic? Is that on track? I think that’s doubtful,” Mr McKellar said.

Don’t be such a pussy. Say out loud what everyone knows: ‘Net Zero’ is a lunatic delusion and always was. McKellar admits that energy bills are already ‘crippling the ability for operators to stay in business’. How much worse does he think it’s going to get, if Boofhead Bowen gets his way?

The interventions from ACCI and COSBOA came after the ­Independent Food Distributors Australia urged Labor to dump its renewables target and focus on ramping up more gas and coal ­production to bring electricity ­prices down in the short term.

Climate Change and Energy Minister Chris Bowen said that ­extending the life of coal-fired power stations – as called for by the IFDA – would increase the price of electricity.

This man is a complete idiot.

Were it not for the brown-coal electricity plants in Victoria providing power to South Australia, the state with the highest penetration of renewable energy, that state would be facing recurrent blackouts and load shedding.

It is surely ironic that two diesel-powered plants have been brought into operation in SA to cope with potential problems.

At the same time, under Bowen’s watch and as a direct consequence of his demented policies, power prices have skyrocketed.

The news on electricity prices in the NEM is not good. As noted by the Australian Energy Market Operator, “wholesale spot prices averaged $88 per megawatt hour over Q4 2024, up 83 per cent from the corresponding quarter last year, with NSW ($143/MWh) and Queensland ($127/MWh) at Q4 record highs” […]

As Bjorn Lomborg has noted: “The International Energy Agency’s latest data on solar and wind power generation costs and consumption across nearly 70 countries shows a clear correlation between more solar and wind and higher average household and industry energy prices. In a country with little or no solar and wind, the average electricity cost is about 12 (US) cents a kilowatt-hour. For every 10 per cent increase in solar and wind share, the electricity cost increases by more than US5 cents a kilowatt-hour.”

No wonder Albanese has hidden Boofhead from public view for the past few months. Bowen has made no public appearances – apart from tightly-scripted ABC slots – and scrubbed his social media accounts at the start of the year.

Now for voters to scrub these loons from office.


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