The Western Australian (WA) government will allocate land to seven projects, most of which are related to renewable energy production, with a collective investment of $70 billion (US$48.5 billion). On Jan. 6, the WA government announced that it would allot land from the Boodarie and Ashburton North Strategic Industrial Areas (SIAs) to seven projects backed…
Western Australia Allocates Land for $70 Billion Worth of Renewables-Related Projects
Australian Renewable Energy Agency to Fund Construction of 8 Grid-Forming Batteries
The Australian Renewable Energy Agency (ARENA) announced Saturday that it would fund the construction of eight large-scale batteries that will boost the country’s grid-forming storage capacity tenfold. Federal Minister for Climate Change and Energy, Chris Bowen, said that ARENA would allocate $176 million to the projects, which are expected to cost $2.7 billion. Each battery…
ESG RIP: Review of Terrence Keeley’s ‘Sustainable,’ Part 2
December 16, 2022
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ESG investment strategies can see investors giving up financial returns for no societal gain. In the second of his four part review of Terrence Keeley’s Sustainable, Rupert Darwall explores the implications of investment theory for ESG artificially constraining investment opportunities; the risks of regulators worsening an already inflated ESG bubble; and the distortions that arise…
The Night the Lights Went Out in Europe
December 13, 2022
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Commentary Politico Europe, a publication marinated in green politics, has named Russian President Vladimir Putin as one of its “power players of the year”—for, in the publication’s words, “advancing Europe’s green agenda.” “By invading Ukraine and manipulating energy supplies to undermine European support for Kyiv, Putin has achieved something generations of green campaigners could not—clean…
Feds Lease First Offshore Wind Sites on California Coast
December 9, 2022
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The U.S. government held its first-ever lease sale for offshore wind energy development rights off the coast of California Dec. 7, drawing more than $757 million in high bids from five companies. In all, 43 companies bid for the chance to build massive floating wind turbines in two regions: Morro Bay in central California and Humboldt…
Solar’s Lofty Ambitions Are Consuming Ever-Larger Expanses of Land Down Below
December 9, 2022
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Wedged in the southern flank of Virginia, Charlotte County is home to some 11,500 people who live amidst rolling hills and family farms, pastures and sawmills, a historic Civil War battlefield, and four townlets tinier than many suburban subdivisions. But this pastoral tableau will be swept up in the green revolution when construction begins here on…
Australian Government Announces $10 Billion Renewable Energy Investment Scheme
The Albanese government has received approval from state and territory governments to establish a scheme that will drive investment into renewable dispatch capacity as energy prices soar. Federal Energy Minister Chris Bowen announced that a capacity investment scheme will ensure renewable energy reliability. “This new revenue underwriting mechanism will unlock around $10 billion (US$6.8 billion)…
UN Declaration Calls for as Much as $10 Trillion a Year to Meet Climate Targets
November 22, 2022
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The United Nations COP27 climate plan calls on nations to spend eight to ten trillion dollars annually to invest in green energy and rapidly reduce greenhouse gas emissions. Governments, central banks, commercial banks, and investors will have to spend $4 to $6 trillion annually to create a global “low-carbon economy,” according to the COP27 Implementation Plan. Furthermore,…
Temporary Gas, Coal Tax ‘Short-Term Fix’ to Energy Price Spike: Mining Council CEO
The CEO of the Mining Council of Australia has described a proposed tax on coal miners and gas producers as “perverse.” The comment comes as a gas price cap and a temporary gas and thermal coal tax are on the table as the Australian Labor government looks for solutions to alleviate the soaring energy prices….
Recklessly Charging Towards Renewable Energy Could Be Detrimental
November 6, 2022
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Commentary Australia Energy Minister Chris Bowen left the country on the weekend to attend COP27 at the luxurious location of Sharm-el-Sheik on the Red Sea, Egypt. Leaving aside the huge carbon emissions just for getting himself there, one would have thought that presiding over the steepest rise in energy prices since records began should be…
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