Is Australia the Next Energy Superpower?

Posted September 23, 2014 at 10:21am

The (U.K.) Guardian reports that “the government has unveiled its strategy to make Australia into an ‘energy superpower’, including goals to increase energy productivity, ramp up gas production and stabilise electricity prices.”  

“The energy green paper states that the repeal of the carbon and mining taxes have improved Australia as an investment destination but more needed to be done, such as improving worker productivity and speeding up the extraction and export of gas and uranium supplies.”  

“Ian Macfarlane, the industry minister, said the plan builds on one of Australia’s ‘areas of competitive strength.'”  

However, a Financial Times report may quash some of the excitement: “It has enjoyed 23 years of economic growth on the back of a China-inspired commodity boom. But Australia’s luck may be running out, as a cooling Chinese economy prompts a fall in prices of its key exports and job cuts across the resources sector.”