Joyce and Taylor propose scrapping net zero goals for fossil fuel support
What happened
Barnaby Joyce and Angus Taylor proposed abolishing mid-century net zero emissions goals and replacing solar and wind schemes with support for fossil fuels. In a press release, they stated that "Australians need cheaper power, not more ideology". They also promised to introduce a new bill containing eight commitments if elected, including tearing up the safeguard mechanism introduced under Tony Abbott.
From theguardian.com
Why it matters
The proposal suggests a shift away from current climate policy, which some experts say is based on the fallacy that recent power bill increases are due to renewable energy targets. The plan involves abolishing policies previously introduced by Coalition governments.
From theguardian.com
Who's involved
- Barnaby JoycePolitician who proposed abolishing net zero goals and supporting fossil fuels
- Angus TaylorPolitician who proposed abolishing net zero goals and supporting fossil fuels
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Clean Energy Finance CorporationSpeculative
Clean Energy Finance Corporation could face major market risk due to the proposed abolition of the solar/wind capacity investment scheme.
- Hancock ProspectingSpeculative
Hancock Prospecting may benefit from regulatory action favoring fossil fuel operations, potentially reducing compliance costs.
Keep exploring
The entities involved
-
Barnaby Joyce
Australian politician, 17th Deputy Prime Minister of Australia
-
Angus Taylor
Australian politician