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Claiming “renewable” energy from wind and solar is cheap and comes without environmental consequences, is a crucial and detrimental energy economic misunderstanding.
The Grattan study also found the gas recovery plan would not lower energy prices. “The east coast has already burned most of its low-cost gas, and will not go back to the good old days of low prices, so gas will become an increasingly expensive energy source.” Nor, it said, does gas stack up as a “transition fuel”. “As Australia’s coal-fired power stations retire over coming decades, it would be more expensive to replace them with gas than to switch to more renewable energy such as wind and solar.” A study by The Australia Institute on November 16 drew similar conclusions. It fo...