Guest essay by Eric Worrall
Multinational Mining Giant Glencore has warned of job losses and damaging economic contraction, because government favouritism towards renewable energy has eroded reliable baseload capacity. Energy intensive businesses like Glencore are firing workers and decommissioning factories, to match the reduced availability of reliable baseload power.
Australia passes a ‘tipping point’ in energy crisis
Glencore has warned that Australia has drifted past a “tipping point” of industrial energy “demand destruction” and that the nation has 12 months to re-establish reliability and affordability of its base load power capacity or risk permanent and unpredictable shifts in the shape of the economy.
“We have to meet Australia’s energy needs now, in five years, 10 years and 15 years. We can’t rely on blue-sky thinking. There is an energy crisis in the world’s largest exporter of coal, the second largest exporter of gas and a major exporter of uranium…
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