Last week provided a glaring contrast between the shoddy, deeply dispiriting politics-as-usual of 2018 and the hope that things might somehow improve.
First, there was the Adani announcement about its Carmichael project, which it insists will now go ahead in scaled down form, although whether it does or not still remains to be seen. The Carmichael project has long reflected everything wrong with Australian politics and its political system: an incompetent minister, a corrupt multinational, known for its Labor-connected lobbyist, its large donations to political parties and its ability to exercise direct influence over political leaders, which is proceeding with a scaled-down version of its coal project because it isn’t commercially viable.
Well-known for a blatant lie about the number of jobs it will create, the project in its scaled-down form is being sold with more lies about its employment benefits — now, at 1500, apparently larger than when the project was several times bigger. And climate denialist Coalition politicians — even greater recipients of fossil fuel company donations than Labor — cheered on a mine that will produce 27.5 million tonnes of coal a year, an output that even at that lower level is completely inconsistent with preventing deeply economically damaging global warming that will inflict massive damage on Australia and its region. Even the lie about India needing coal was trotted out again.
While politicians and business were celebrating the announcement of an extraordinarily damaging expansion of Australia’s addiction to coal, thousands of schoolchildren were taking to the streets to protest against the government’s climate denialism and rejection of any need to curb Australia’s massive per-capita level of carbon emissions. For these kids, the issue of climate change is real in a way that it isn’t for the Matt Canavans and Scott Morrisons of the world: they will work in, and raise their own kids in, a world materially poorer for our failures. The new National Climate Assessment — from that den of lunatic environmentalists, the US government — warns of $US700 billion a year in costs to the US economy alone by 2090 — a year I and most of you reading this will never see but easily within the lifetimes of the kids on the streets on Friday.
Inevitably, climate denialists and conservative politicians railed against the children (politicians attacking kids is always a good look) with Scott Morrison declaring that there was some sort of distinction between learning and activism. That’s a strange, 3 Rs idea of education that it consists of children being passive recipients of information rather than being encouraged to develop critical thinking skills — something there’s far too little of in an education system focused more on economic outcomes rather than developing effective and engaged citizens.
As it turns out, however, the kids are being more economically rational than the fossil fuel industry-controlled politicians. The most absurd thing about our failure to action of climate change now is that the costs of such action are relatively cheap — indeed, given the experience of two years with a carbon price, probably barely noticeable — compared to the growing costs of climate change.
“We’ll be less Activist if you’ll be less Shit” read one sign carried by the thousands of protesters. It’s a good deal, but our business-as-usual politicians are incapable of meeting their end of it.
Once I was a revolting schoolkid. Now I’m a grumpy old buffer. Yet when I saw those wonderful young people standing up for OUR future I felt a jolt of hope and energy.
“Come senators congressmen please heed the call
Don’t stand in the doorways don’t block up the hall…”
What must be dreadfully apparent to the LNP is that a large proportion of those who particpated in the protest will be old enough to vote in the election after next. And they don’t appear to enamoured with the LNP.
I hope the Libs really enjoy the leather on the Opposition Benches. As I suspect they’ll be sitting on those benches for about a solid 10-15 years. Murdoch’s propaganda doesn’t seem to be working its magic much anymore.
Why is Adani obsessed with developing Carmichael if it’s not commercially viable?
One reason I’ve read is that while Carmichael is stilled being considered for development, it still has value in Adani’s books, and can be offset against debt. But once its development is abandoned then its value drops to zero, and Adani’s gearing increases, making debt more expensive.
Is this the reason?
It’s the only proposition which makes any sense to proceed (or pretend to). The dexterity & logic of beancounters.
It’s basically about the tax write offs. They pick up lots of nice subsidies from State & Federal Government, & any profit they make here will be transferred offshore so they don’t need to pay any taxes to the State or Federal Government in return.
If that mine goes ahead we may see civil disobedience on a scale not seen since the Vietnam protests. Todays state and national leaders are spineless and would sell their souls for power and a bucket of money. The so called conservatives are the worst and have taken self interest to a new level of spitefulness and stupidity. The scientists are screaming at us and them and we stand around waffling and scratching our heads in bemusement.
Let’s hope a massive dose of karma is visited on the big gobs.
“Sovereign risk”? Turn a sod and there’s no going back – theoretically.
I can’t help but think that even critics have underestimated the real potential effects of climate change, granted the earth could just suddenly become a molten ball of magma again by tea time due to any number of essentially natural causes. But it is dishonest and stupid of media / political/ business to believe its an economic imperative, … regardless of if they are pro or anti, whatever contributing factor.
Economics is a false measure, a fabricated construct that the small minded and greedy cling to as if it is a factual science, its not. Economics alone is not any valid reason for action to safeguard the environment, and attempting to combat human causes of climate variation (just a hint- its human population growth at the root of it)
Burning to death in heatwave or bushfires, increasing melanoma and cancers of all variety should be the message as it potentially will be the reality, along with a multitude of other similar unpleasant outcomes. USD $700billion/pa won’t be a concern when a significant % population of this planet wake up to the reality that is upon them and absolutely unavoidable consequences.
Money won’t buy anyone’s way out of Global catastrophe so stop regarding it as important.
A crowded future of dwindling natural resources that future generations will be compelled to consume at a accelerating rate just to attempt to survive before the final collapse.
An excellent comment. The environment writ large is much broader than the economy, which is essentially a statistical construction of a series of institutions that centre on the exchange of goods in the creation of artificial measures of excess and scarcity. Above all, an economy is a quantitative, not a qualitative concept, yet the proponents of neoliberalism reduce everything back to a quantitative measure as the foundation for their statistical models which have value primarily as historical measures, but for little else.
I can only applaud the students who demonstrated last Friday as they provide a glimmer of hope that quality is beginning to replace quantity, the longterm replacing the short-term.
Back in early 2007. An eminent British Economist and Academic, Chair of Grantham Research on Climate Change and the Environment at London School of Economics published “The Economics of Climate Change – The Stern Review.” Living on banks of a dead, stinking, waterless drain a few clicks from southern ocean . . . I woke up! The Australian political discourse of the time, then as now, harboured virtually little concern for our nation’s greatest river or; a declining capacity to feed a populace into a future. Stern’s gift; an opportunity for us all to “pull back”. “Economics is not a false measure.” Stern knew economics had a part to play. We Australians ourselves, have denied younger generations a future equal to that we have enjoyed. Young courageous Australians have every right to usurp a failed leadership. They now know their heritage is set . . . at around 5*