The WA government will soon decide whether Black Mountain Energy can frack 20 wells near the Kimberley's Fitzroy River, but promised measures to protect the environment and the rights of local people are not yet in place.
Alcoa chief executive Bill Oplinger told Wall Street the US aluminium specialist could take strong action to boost profits from alumina, most of which it refines in Western Australia.
South West WA's power grid reached a record 91 per cent peak renewable energy share in December - driven by 1,225 MW of new battery storage - while wholesale power prices fell 13 per cent and carbon emissions dropped 15 per cent as coal and gas generation declined.
A $40 billion market for Australian coal and LNG exports just became less welcoming with Japan's commitment to zero carbon emissions by 2050.
Japan that buys about $40 billion of emissions producing imports from Australia every year has committed to achieving zero carbon emissions by 2050.
Prime Minister Yoshihide Suga today told parliament that a sustainable economy would be a pillar of his growth strategy.
Suga said he would “put maximum effort into achieving a green society,” including being carbon-free by 2050.
The newly installed leader said Japan needs to change its mindset.
“Global warming measures are no longer obstacles for economic growth but would lead to industrial and socio-economic reforms and a major growth,” Suga said.
The industrial giant’s previous target was an 80% cut in emissions by 2050.
Industry Minister Hiroshi Kajiyama later said the government would develop plans for some elements of achieving net-zero by 2050 by the end of the year.
Japan’s acceleration of emission reductions is awful news for exports of thermal coal from NSW and Queensland that supply 72% of the fuel for Japan’s coal-fired power stations.
Under any plan to reduce emissions coal use - the dirtiest way to generate electricity - would be slashed.
LNG is the dominant fuel for power in Japan, with a 40% share of generation in 2017, followed by coal 33%, oil 9% and renewables 8%.
Nuclear energy produced just 3% of power, down from 25% in 2010 before reactors were shut down after the Fukushima disaster.
Australian LNG producers may initially benefit from the demise of coal. Still, they will be squeezed by efforts to increase energy efficiency, renewable energy and the ongoing reopening of nuclear power stations.
Metallurgical coal, used to make steel, is unlikely to be affected in the short term as there are no workable alternatives. In later decades coal will only have a place in steelmaking if with the added cost of carbon capture and storage it can compete with steel made with green hydrogen.
Leaders in China, another major importer of emission producing Australian products, have reportedly met today to consider how to incorporate the nation’s new goal of net-zero emission by 2050 into its 2021-2025 five-year economic plan.
Main image: Shibuya area in Tokyo. Source: Jezael Melgoza on Unsplash
Sources for table:
South West WA's power grid reached a record 91 per cent peak renewable energy share in December - driven by 1,225 MW of new battery storage - while wholesale power prices fell 13 per cent and carbon emissions dropped 15 per cent as coal and gas generation declined.
Woodside and other exporters have a "shocking record" of not providing evidence that gas helps reduce carbon emissions, according to Chris Tallentire.
After a big splash four years ago and little publicity since, Woodside has teamed up with Japanese partners to promote a smaller, later, and dirtier hydrogen plant.
The operator of South West WA's power grid needs insolvent Griffin Coal to keep supplying a vital power station, but if the WA Government won't keep it going, who will?
All the info and a bit of comment on WA energy, industry and climate every Friday
