Power generation in a carbon constrained world
Implications for the Australian resources sector
This paper is the full version of the presentation given at the annual conference of the oil and gas industry in June - APPEA09 - by Jon Stanford, chief economist for Deloitte’s Energy & Resources Industry Group.
Jon argues that the most difficult task in the move towards the low carbon economy is to replace the use of fossil fuels – particularly coal – for base load (continuous) power generation because while there are several options to replace coal, all have their problems.
In light of the issues with use of alternative fuel sources Jon posits four strategic propositions which, if accepted, have implications for Australian energy policy going forward, for Australian industry generally, and the energy and resources sector specifically.
The four propositions are:
- Undertake a major push on geothermal energy
- Continue to invest in developing carbon capture and storage technologies
- Exploit Australia’s strong global position in uranium
- Accelerate the development of Australia’s gas resources.
To read Jon’s analysis in full, please refer to the download below.