Adani funding coal stack up

There must be still a large number of ALP staffers in Canberra who do not seem to understand that the Adani Coal Mine does not "stack up".  This is to use Bill Shorten's term when he was filmed not so long ago, presented by the ABC in April 12th, 2017, seen as footage here.

I support the Adani coal mine so long as it stacks up. I hope it stacks up, by the way. . . . But it's got to stack up commercially. It's got to stack up environmentally.

The ABC item goes on to note the ALP internal conflicts between union groups that want coal jobs, and environmentally aware sections of the ALP. Why the union political forces of the ALP might want coal jobs, an industry which is definitely in "structural decline", over more numerous jobs in the growing renewable energy industries is another question.


Bill Shorten seems to have forgotten about a Paris Climate Treaty, with political target of 2 degrees C warming. About which  Carbon Tracker,  reports that most of existing coal reserves in active mines, need to be left in the ground. This means no new coal mines. New coal mines do not stack up anywhere in the world. There is already enough over-supply to take us to climate hell. India wants out of coal, especially imported coal.


Potential government backed funding for the Coal Mine has plenty of coal-stacked up funding boards.  There's NAIF and EFIC, both stacked with coal and mining interests. EFIC has given hundreds of times more money to coal than renewable energy in the past. Literally they don't seem to know anything about any other business. The boards are setup specifically for the mining industry by the government.

author:
Michael Rynn
description:
NAIF and EFIC, both stacked with coal and mining interests. Adani Coal Mine funding.
keywords:
Galilee Basin Mining Vultures, NAIF and EFIC coal stacked boards
og:title:
Adani funding coal stack up

Add Comment

* Required information
1000
Drag & drop images (max 3)
What is the next number: 10, 12, 14, ..?
Captcha Image

Comments

No comments yet. Be the first!