Opinion: Turnbull, Rudd in denial over reality of net-zero target

Turnbull and Rudd are in denial about the economic impact of making the planet cleaner, writes Peter Gleeson.

Former prime minister Malcolm Turnbull likes to talk about how right-wing voters are in climate change denial, yet he is obsessed with the race to hit renewable energy targets.

It is Turnbull who is in denial.

He and his mate Kevin Rudd like to talk about emissions reduction targets and the push to phase out coal like it’s no big deal.

Shut them down and let’s use the wind and sun to keep us warm in winter and cool in summer. That’s not forgetting about keeping the lights on and, of course, that small, minuscule problem of throwing tens of thousands of coalminers out of work as the industry goes into so-called “transition’’.

Transition is a cute, bureaucratic term for being thrown out on your bum.

Turnbull and Rudd are in denial about the economic impact of making the planet cleaner. That’s why this is a double play.

Coal, gas and oil – maybe nuclear – must complement the renewables push.

Turnbull’s myopic view of chasing net zero emissions by 2050 – despite countries like China and India continuing to build scores of coal-fired power stations – places Australia in a precarious position.

Why would Scott Morrison sign a death warrant undermining Australia’s international trade competitiveness?

Former prime ministers Kevin Rudd (left) and Malcolm Turnbull

Countries like China and India are being less than transparent by even trying to suggest they will convert to renewables by 2060.

Everybody has a role to play in reducing the world’s carbon footprint and most major corporations are working hard to deliver on that objective.

But we can’t just turn the tap off coal-fired power supply, which still produces 80 per cent of our electricity.

Worse, on what planet would you cede any advantage to China right now, whether it be trade or climate targets?

It’s madness.

According to the Department of Industry, Science, Energy and Resources, the value of Australia’s resources and energy export earnings are forecast to set a record of $349 billion in 2021-22, up from $310 billion in 2020-21.

That’s an extraordinary figure.

Why would we be accelerating any plans to wind these industries up, as our neighbours embrace them?

What of the impact on government taxation revenue, exports, jobs and regional communities if these industries went south.

Australia’s oil and gas industry is helping ensure we keep the lights on, in our hospitals and other public facilities.

Total oil and gas export earnings in 2021-22 are forecast to increase to $67 billion.

That’s a lot of money. Coal is even more.

If Turnbull and Rudd have their way, Australia will be putting all its money on black at the roulette table.

The problem for us is China and India have stayed in their casino hotel room.

They’re not about gambling with their country’s economic fortunes.