By Viv Forbes, Chairman,
Have you wondered why carbon energy giants such as Shell, Exxon, BP, BHP and Origin Energy are in favour of carbon taxes, carbon capture and green energy subsidies?
It’s neither altruistic concern about global warming, nor to boost the investment return from their solar panels. Rather, they have all made big investment bets on that other carbon fuel, natural gas. Killing off coal suits their bottom line.
Coal is the biggest competitor for gas in many energy markets. The carbon tax and mandatory carbon dioxide capture will fall heaviest on coal and will ensure that few new coal-fired power plants are built. And green energy targets and subsidies will force-feed electricity playthings like wind and solar power.
But wind and solar can only produce costly intermittent power, and must be backed up by reliable energy generators which can be switched on and off at the whim of the weather. In most places, that probably means GAS.
Thus, when coal and nuclear power have been assassinated by the greens, and the wind and solar farms are rusting away in industrial oblivion, the main generators left standing will be ... gas-fired power stations. And everyone will pay even more for electricity.
The gullible greens have been gazumped by the gas giants.