Where Australia’s Wealth Really Comes From. By the Spectator Australia.
As Rebecca Weisser explains in this week’s cover story, ‘Thanks to Vladimir Putin’s invasion of Ukraine, Australia is enjoying record prices for its coal and gas. China’s determination to kickstart its economy out of is zero-Covid doldrums has also kept demand for iron ore high.’
Yet, as Rebecca points out, when it came to alerting the nation as to where our wealth comes from, ‘Poor [federal Treasuer] Jim couldn’t bring himself to use the ‘f’ word for ‘fossil fuels’ or the ‘c’ word for coal which, along with gas, has delivered massive revenue windfalls and the first budget surplus in 15 years.’
So, let’s be clear. The foundations of the Australian economy are unequivocally built on fossil fuels — investment in them, the power we all derive from them, and the export dollars they smother us in. Thank you Gina Rinehart and all those who dig up our fossil fuels — we owe you our gratitude for so much of the money that we lavish on education, infrastructure, indigenous Australia, food, transportation, health, welfare, sports, our defence and so on. …
The Australian government intends to kill our wealth:
The entire ethos and investment strategy of the Albanese government is built on the twin pillars of destroying the very industries and products that are the foundation of our economy — in order that we may reach the phony woke utopia of net zero — thus depriving future generations of trillions of dollars, whilst simultaneously pouring billions if not eventually trillions of dollars into a fantasy future that is literally wishful thinking: a renewables superpower based on green hydrogen.
Kill the golden goose
Or to put it another way — we are splurging billions of dollars we got by digging up valuable stuff to make sure that in future years we won’t be able to dig up any more valuable stuff. What a genius plan!
Should have checked the climate models against the evidence before acting on them. What foolishness from our ruling class!