The Bullroarer - Friday 4 July 2008

The Age - Markets in turmoil, now stand by for climate pain

THE Australian sharemarket has crashed to its lowest level in almost two years, as fears grow that record oil prices and a faltering American economy could plunge the world into recession. Reacting to a steep fall on Wall Street, nervous Australian investors yesterday wiped almost $29 billion from the value of the nation's biggest companies, pushing the main index below 5000 points for the first time since September 2006.

ABC - Geothermal power station planned for western Qld

A Brisbane-based company is proposing to build a $50 million geothermal power station in western Queensland.


WA Today - Photos reveal extent of Apache gas explosion

Pictures taken by Apache Energy workers show the full extent of the damage caused by the Varanus Island gas explosion. Apache Energy and the State Government have not said publicly what caused the explosion, which has plunged WA's gas supplies into crisis. The pictures show the extent of the damage on the pipe at the centre of the explosion, which knocked out about 30 per cent of the State's gas supply.

Crikey - Australians buying gas-guzzlers in record numbers

WA Business News - Jabiru secures alternative gas supply

West Perth-based Jabiru Metals Ltd has secured alternative gas supplies to power its Jaguar zinc-copper mine near Leonora up to the end of September. The miner said today that it had been able to revert to 100 per cent gas power generation through alternative arrangements, with the agreement with an unknown gas supplier starting from July 1.

SMH - New gas-fired power station for Victoria

A $640 million natural gas-fired power station will go ahead in western Victoria. Origin Energy announced it would proceed with the project at a site 12km west of Mortlake. The 1000-megawatt plant will be the largest power station built in Victoria since the early 1990s, when the Loy Yang B coal-fired plant was built in the Latrobe Valley. ...

The project comes after the government this week signed off on a $750 million brown coal power station in the Latrobe Valley. The 400 megawatt plant will use "clean coal" technology to produce electricity with 30 per cent less greenhouse emissions than conventional power stations.

The Australian - Origin to reject BG Group's $13.7bn hostile bid

ORIGIN Energy, Australia's second largest power retailer, will recommend shareholders reject BG Group's $13.7 billion takeover bid ... The UK-based company was targeting Origin to secure its vast gas resources in eastern Australia to feed a proposed liquefied natural gas plant in Queensland it plans to develop with Queensland Gas Company.

The Australian - Nations must unite to calm oil market: Indonesia

INDONESIA issued an impassioned plea today for oil powers and consumer nations to stop the blame game over oil prices. ... “This is time for producer countries, not only OPEC and Saudi Arabia but also Russia and Venezuela, to sit together with consumer nations, with the US, China, India, and not to blame each other,” Mr Yudhoyono said in a speech carried on ElShinta radio. “They need to make calculations about to what extent they can step up their production. If it's not possible they have to commit to reduce oil consumption.”

SMH - Uranium tests kept secret, inquiry hears

A MAN whose parents died of cancer after living near a former uranium smelter at Hunters Hill told a parliamentary inquiry yesterday the NSW Department of Health had tried to cover up results of radioactivity tests.

SMH - TV screen gas 'worse than coal'

THE rising demand for flat-screen televisions may have a greater impact on global warming than the world's largest coal-fired power stations, a leading environmental scientist has warned. Manufacturers use a greenhouse gas called nitrogen trifluoride to make the televisions. As the sets have become more popular, annual production of the gas has risen to about 4000 tonnes. As a driver of global warming, nitrogen trifluoride is 17,000 times more potent than carbon dioxide, yet no one knows how much of it is being released into the atmosphere by the industry, said Michael Prather, director of the environment institute at the University of California.

Renewable Energy Access - Will Renewables Trump Nuclear in Ontario?

“Here in Ontario, there's a fundamental paradigm shift taking place,” said Kristopher Stevens, Executive Director of the Ontario Sustainable Energy Association (OSEA). “You've got the large-scale, centralized thinkers who only see big power stations with tons of electricity, which are hard ramp up and down. And you've got the other side that wants to create a network, like the internet, that is adaptive.”

SMH - Vale, Alexander the not-so-great

Several years ago, with controversy over the invasion of Iraq swirling, Alexander Downer saw a chance to score a point against one of the most credible critics of the government's policy. The then foreign minister was at Melbourne Airport walking towards the gate to catch his flight when he saw, walking ahead of him, Dick Woolcott.

Woolcott was a career diplomat, former secretary of the department of foreign affairs and trade. Although he had retired by the time the Howard government took power, the new government had asked him to perform some delicate diplomatic missions. John Howard made him a special envoy to bringing about a rapprochement with Malaysia's prickly prime minister, Mahathir Mohamad, for instance.

But the invasion of Iraq changed all that. Woolcott emerged as a critic. Now seizing the moment in Melbourne Airport, did the foreign minister confront Woolcott? Did he argue the merits of the policy? Did he try to change his mind? Or did he tell him what he thought of him? None of these.

Yelling above the heads of the other travellers, Downer called out to the back of Woolcott's head, "Loser!" he told me later. "Then I ducked down quickly in case he turned around and saw me." In recounting the story, Downer seemed to think it a very funny thing to do.

This was the man who, for nearly a dozen years, represented Australia in the high councils of the world. As this anecdote reveals, Downer can be petty and puerile. He plays a mean-spirited, personal, scratchy game of partisan politics. He can be breathtakingly immature.

SMH - 'Annoy' squad's pre-emptive strike

I'll follow up with a separate post on the Garnaut report later...

Look forward to reading that Big Gav,

“Here in Ontario, there's a fundamental paradigm shift taking place,” said Kristopher Stevens I wouyld like to see some more analysis on this too,

The shift taking place in Ontario (hopefully, unless the centralists hold sway for another decade or two) is one we're going to see everywhere.

The old view of the grid - fixed supply and variable demand, with a "base" level being focussed on myopically as some sort of determining factor (aka "the baseload fallacy"), and often inflated by artificially low off-peak pricing - is going to be replaced by one where both supply and demand are free variables, and price is set based on both of these - and then used as a signal by demand management "smarts" in consumer equipment and the grid to balance them out.

The old model is one those with a centralised / planned worldview want to remain in. The new world is a network model more attuned to the world of the internet - a real energy market, with node bahaviour based on the rules of supply and demand.

The old model has as much of a future as the Soviet Union (and Chernobyl) did...

Anyway - I'll be doing a post on the future of the grid at some point in the next few months, stay tuned :-)

Even if Garnaut only delivers carbon-trading-lite the very fear of it may have prompted 'cleanish' coal. No word on whether the gas plant is single/combined cycle, load following or baseload. Better still, when are they going to blow up Hazelwood, one of the world's dirtiest power stations?

As with the LNG from CSM intended for furriners the more urgent domestic needs for gas (eg bus fuel, urea for farming) seem to be way down the priority list.

I think decommissioning Hazelwood is one thing we all agree on :-)

The gas situation really depends on how much CSM there is. If the top end estimates (around 250tcf) are correct, then we'll be gone by the time it runs out, even with LNG plants (assuming they don't build 100 of them of course).

I would sincerely hope that in 50 years time we will be completely off fossil fuels and the remaining gas and coal can be used only where stricly needed - fertilisers and some plastics (with biogas and bioplastic meeting much of the need anyway).

Re Alexander(Billy Bunter)Downer at last departing the Australian political scene - I think we all know who the "loser" is and it isn't Woolcott.
The real tragedy is that jerks like Downer survive so long and in such powerful positions.There are plenty more of them on both sides of politics.
A toast - So here's to you, to me, to those we love and cherish,
And those we kind of hate and wish would perish.

:-)

Good riddance to Lord Downer - I'm glad I don't have to listen to that accent any more.

Loser indeed.

Yes but his clone Chris "mini Alex" Pyne is still there to provide "that" accent... and he's probably even more annoying.

What do you have against centralised electricity provision Gav?

I think that the way forward lies with a mixture of both big and small solutions. You seem a little quick to write off the magnitude of accomplishment that can arise from collectivism.

Read my veiws on the solar rebate on that thread. Without a centralised grid system, the kind of advanced society we have would be all but non-existent. Rooftop solar panels are nice for the few who can really afford them (even before the means test) but I seriously doubt it will ever amount to the kind of generation needed to turn the wheels of industry. Hence, individualist solutions can reduce the demand for big electricity generation but never replace it.

Don't forget that we are both individualistic AND colllective by nature. Human beings all working together toward commom, bigger goals is what brought us forward from the stone age.

I'm not opposed to centralised energy provision - I just want people to be free to be independent / self sufficient if they so desire - I'm sure that centralised CSP, geothermal and wind plants will eventually provide a lot (more than half) of our energy needs and I don't have a problem with that (in fact I advocate the construction of all 3 continuously).

As for collectivism, I'm a libertarian, so its in my nature to be dubious about it.

I'm not particularly dogmatic about it though and seem to have an unnaturally large number of (virtual) socialist and anarcho-communist acquaintances :-)

As for the cost of solar, look at that graph I posted again. PV will be price competitive with coal in Australia within a decade.

Do you really object to people being able to generate their own power for the same price they pay for getting it from the grid ?