November 2016
Nuclear Dumps
How much is a hole in the ground worth? Australia has considered building a nuclear waste dump many times over the decades. Each time, the proposal has fallen through. This time, in South Australia, proponents are making $100 billion dollar claims. Richard and Rod take a look at those claims and the economics of building
Economic Models
Economic models are like a lot of things in life: What you get out of them depends on what you put in. But therein lies the problem. When reporting focuses on the ‘findings’ without looking at what assumptions underpin politically influential economic models, it leaves us vulnerable to what Richard calls the ‘peak-stupid of econobabble’.
September 2016
No New Coal Mines
Can Australia live without coal? Episode 7 of Follow the Money looks at the economics of coal and how a moratorium on new mines would help stop the boom and inevitable bust cycle, and instead create a smooth transition to a low carbon future. Contributors: Richard Denniss – @RDNS_TAI Rod Campbell – @R_o_d_C Ebony Bennett – @ebony_bennett. Produced by
January 2016
Mining Boom-tish
The first episode of The Australia Institute’s exciting new podcast series Follow The Money looks at the economics behind Australia’s mining boom. You can subscribe to Follow The Money on iTunes. Contributors: Richard Denniss Rod Campbell Francis Keaney Find us on Twitter/Facebook. In Follow The Money, The Australia Institute explains the economy in plain English. We’ll bust some economic
June 2015
Mine not yours: Minerals industry attacks environment groups
The mining industry is furious that if you make a donation to an environment group, your donation is tax deductible. You know the drill. You give someone in a koala suit anything over $2, they give you a receipt and go off to save an owl, hug a tree or, more likely, make a submission
April 2015
Coal industry writing the NSW Govt’s rules on economics
Imagine this. You’re a State Government minister. Your department and the most powerful industry it regulates are under fire for failing to comply with your government’s own guidelines. Courts, the media and community groups keep complaining that the industry breaks the guidelines and your department lets them get away with it. Even the consultants you
November 2014
Coal companies talking rubbish on energy poverty
The term “energy poverty” refers to people who do not have access to electricity and clean cooking facilities. Globally, 1.3 billion people do not have access to electricity in their houses and 2.6 billion people cook by burning coal, wood and other solid fuels. This has major impacts on people’s health, safety and quality of
January 2014
Coal royalties a tiny part of state revenue
In the old Chinese proverb, the frog in the well thinks he knows everything about the world, based on the little patch of sky he can see. The view from the bottom of an open-cut coalmine might be a little wider than that of a well, but NSW Minerals Council chief executive Stephen Galilee’s discussion of the role
Another way to look at the impact of coal
Mining industry lobby group the NSW Minerals Council this week released yet another report on mining’s importance to the NSW and regional economies. Not surprisingly, the report contains lots of big numbers. But this report, like many before it, is a case of ‘‘what’s true isn’t surprising and what’s surprising isn’t true’’. Let’s start
October 2013
Terminal 4 project claims don’t stack up
If something sounds too good to be true, it probably is. Last week, Port Waratah Coal Services (PWCS) chief executive Hennie du Plooy said in the Newcastle Herald that the proposed Terminal 4 project (T4) would “inject $770million a year into the regional economy during construction and another $418million a year” when operating. I don’t
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