Some anti-mining groups have distorted the truth in relation to the United States Government's decision to rethink its funding for the FutureGen project. These groups claim this is proof that Australia should completely abandon clean coal technology and concentrate on renewables. To make this leap is ludicrous, even irresponsible.
Contrary to reports earlier this year, the US is not withdrawing support altogether. It has decided to concentrate its funding on the carbon capture and storage component of the project rather than on the power plant technology known as Integrated Gasification Combined Cycle (IGCC). There are several IGCC pilots in operation or about to come on stream in Japan and China; 40 more are being planned around the world.
The US decision will not affect the Australian coal industry's resolve to continue to invest in innovative low-emission technologies. These technologies will allow us to meet ballooning global demand and at the same time achieve deep cuts in emissions.
With or without FutureGen, Australia has always been well placed to be a global leader in the development, transfer and sale of these cutting-edge technologies. And the reasons this is the case are quite straightforward.
First, Australia's scientific and research capability represented in our universities, the CSIRO and Co-operative Research Centres such as the CO2CRC is unparalleled. These scientists have been working for more than a decade in this field, and they have been working in concert with the Australian mining industry and state and federal governments.
Second, the Australian coal industry is the only industry in the world which has established a voluntary $1 billion (Coal21) fund specifically devoted to the demonstration of low-emission technologies. And that money leverages several billion dollars of additional funding that has been spent or committed by individual companies and by governments.
So the reality is that there is real money being spent on real projects in this country, not to mention overseas.
Indeed, of the 39 major low-emission technology research and demonstration projects underway, 15 of these are in Australia. We may only contribute 1.4 per cent of global greenhouse gas emissions, but Aussie know-how is yet again punching well above its weight.
Informed commentators recognise there is no silver bullet solution to climate change. As a society, we need to invest in a wide array of technologies, including solar, wind and geothermal if we are to control and avert the alarming impacts of climate change.
We also need vastly improved energy efficiencies, effective management of energy demand and curb our insatiable demand for power.
Whatever one's view about coal, there are some global realities that can't be ignored. World energy consumption will double between now and 2030. Of the 800 new coal-fired plants that will come on-stream over the next 10 years, 500 will be built in China alone. So if we don't have a solution to coal use in China, which is now the world's largest greenhouse gas emitter, we simply don't have a solution to climate change.
Low-emission coal technologies are a fundamental weapon in the arsenal to combat climate change.
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