Abbott sees Australia as an “energy superpower”, renewables are his kryptonite
On his whirlwind trip through North America, Prime Minister Tony Abbott has stopped off in Houston. Home for more than 100 foreign offices of Australian companies and around 3700 energy firms, Mr Abbott was spruiking Australia as a potential superpower for affordable energy.
Looking to promote trade relations between Australia and the US, he pointed out that we have decades of coal reserves ripe for exporting.
“Australia should be an affordable energy superpower, using nature’s gifts to the benefit of our own people and benefit of the wider world,” he said while also pointing out that he doesn’t believe in , “ostracising any particular fuel.”
Having always favoured traditional fossil fuels, Mr Abbott faces a shrinking export market for coal as the global trend away from traditional energy production shifts in favour of renewables.
Australia and Canada have similar export profiles, both heavily dependent on coal and gas.
Despite expectations that he will scrap the renewable energy target, a mechanism the lowers the overall cost of electricity for all consumers, he has assured the public that they will benefit from scrapping the carbon tax when they open their electricity bills.
Expected to reduce the average bill by $550 per year, he has no concerns that the utilities will pass on the savings says, “We can guarantee appropriate price reductions will be passed on.”
Repealing the carbon tax should be possible with the assistance of votes from the Palmer United Party, Motoring Enthusiasts and Family First representatives.
Having slumped in recent polls, it’ll be good news for the Prime Minister after achieving his lowest approval rating since taking office.
Opposition leader Bill Shorten has fired back, telling the Australian Financial Review:
“We do believe in an emissions trading scheme, we will work through our policies before the next election, but Labor won’t shirk the task of having an emissions trading scheme because we believe in climate change.”
