Australia Energy crisis propels Aussie resources exports to record $379 billion
Powershop bleeding customers after Shell takeover, amid 'greenwashing' concerns
Green energy provider Powershop has likely lost at least 5,000 customers since a takeover announcement by Shell a few weeks ago, according to data collected by the ABC from its competitors.The Anglo-Dutch multinational oil and gas company announced in November that it was buying Powershop for an undisclosed price.
Surging gas and coal prices and a weaker Australian dollar are set to propel the country'sexports to a record $379 billion this financial year.
The boom time for Australian companies was today outlined in the Resources and Energy Quarterly published for the December quarter.
Energy expert Ken Baldwin told Nine.com.au the study showed Australia was benefitting from a global energy shortage.
"The prices are driven by the global post-pandemic recovery ... There is also a gas and thermal coal shortage in Europe, where gas is in short supply due to a very cold winter," Professor Baldwin, of the Australian National University in Canberra said.
Ag billions lost in Black Summer bushfires
Up to $5 billion was lost to Australian agriculture in the Black Summer bushfires of 2019-20, a report by the University of Sydney and WWF Australia estimates.The Fire on the Farm report, by the University of Sydney with the World Wide Fund for Nature Australia, estimates between $4 billion and $5 billion was lost to agriculture in the blazes of 2019-20.
This year's total is expected to surpass last year's record figure by 22 per cent.
Video: Australians have ‘reallocated priorities’ amid increased government intervention over COVID-19 (Sky News Australia)
Professor Baldwin said the latest export figures represented a "high point".
Coal and Liquified Natural Gas (LNG) prices will remain buoyant due to strong demand and shortages for the commodities.
The quarterly report also forecast demand for minerals such as lithium, nickel, zinc and copper will benefit Australian resources exporters.
But it also said there will be a marked decline in iron ore earnings as global demand for eases.
threatened by the rise of waters, New York protects behind a wall
© AFP N EW YORK, giant urban surrounded by the waters and threatened by the climate distraction, protects behind a gigantic anti-flood wall, hoping to avoid Disasters of the last ten years. Hurricane Sandy in 2012 and Ida and Henry Storms this summer caused death of dozens of inhabitants and billions of dollars in damage in the largest city of the United States .
While the high demand for coal exports is expected to put a dent in climate change targets, Australia is well placed to become a green energy powerhouse.
Hydrogen, ammonia and carbon capture and storage has attracted $185 billion of potential investment, the report said.
Professor Baldwin said these developments would enable Australia to remain a major global resources exporter for the coming decades.
COVID updates: NSW reports new peak; Victoria records two deaths; South Australia announces new restrictions .
Victoria, Queensland and the ACT's daily COVID numbers were all lower on Boxing Day compared to Christmas Day, but New South Wales and South Australia have reported new daily records.You can jump to the COVID-19 stories you want to read by clicking below.