<
https://reneweconomy.com.au/real-zero-means-not-having-to-worry-about-despots-oligarchs-fruitcakes-and-invaders-says-forrest/>
"Iron ore billionaire and green energy evangelist Andrew Forrest has ramped up
his campaign to stop rich miners pocketing billions from Australia’s now
controversial diesel fuel rebate, and argued his company will serve as a
“prototype” for the nation to stop burning fossil fuels.
Forrest has set a goal of reaching “real zero” emissions at the giant iron ore
mining operations operated by Fortescue, which means replacing 700 million
litres of diesel burned each year for trucks and mining equipment, as well as a
lot of gas burned for power generation.
The target date for “real zero” is 2030, but Forrest says the grid supplying
his mines will be effectively 100 per cent renewable in two years, and will
just be waiting for the last of the more than 300 huge 240-tonne electric haul
trucks to be delivered to meet that target.
Forrest is angry about two policy settings that are slowing and distorting the
transition to green energy – the “net zero” targets included in the Paris
climate treaty at the insistence of the fossil fuel industry, and which rely on
dodgy offsets, and the diesel fuel rebate which is putting billions back into
the pockets of big miners every year.
“It’s absurd politics,” Forrest said at the Smart Energy 2026 conference in
Sydney on Wednesday. “We have a situation to switch off diesel so there is more
for mums and dads, and there is a rebate that goes to companies that least need
it.”
Forrest says the 700 million litres Fortescue burns each year costs $1.2
billion annually and every $1 a litre price rise costs it $700 million. He
expects a quick return from the $US6.2 billion he is spending to eliminate it
(along with hefty gas bill).
He argues that other mining companies could, and should, do the same, but are
happy to pocket the rebate because it provides no incentive to electrify,
despite burning 9.5 billion litres a year, 90 per cent of which is imported.
According to Forrest, $4.5 billion of diesel fuel rebates goes to the mining
industry each year, and it has already totalled $55 billion since it was
introduced by a “pork barrelling” John Howard in 2006. By 2030, the total
pocketed by mining will be $83 billion, and the grand total of rebates will be
$184 billion."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
