Australia is the lucky country. Donald Horne gave it that moniker ironically in his famous 1964 book, arguing his country prospered on natural resources and immigration rather than its “second-rate” political or economic system. The energy and climate transition will test just how much luck there is Down Under.
The nation is an energy superpower – and its strength extends across the spectrum, with the exception of oil. It is the second-biggest exporter of liquefied natural gas (LNG), neck-and-neck with the US and Qatar, the second-biggest exporter of coal, just behind Indonesia, and the fourth-biggest miner of uranium.
It is rich, too, in the minerals that construct new energy technologies. Notably, it leads in lithium, extracting almost half the world's total. It is a lesser but not insignificant player in cobalt, nickel, rare earths, copper and silver. Ninety per cent of its exports are energy, minerals, metals and agricultural products.
And its vast, sparsely-peopled terrain allow it to take advantage of strong renewable resources. From virtually nothing, solar power has boomed to the point of having the highest per-capita use of any large country in the world.
Its solar generation is twice that of the whole of Africa, and is more than the whole of the sunny Middle East. And, fair dinkum to its wind power industry, too, which is also considerable.
Its coal exports have boomed, despite an unofficial ban from China on purchases that ran from mid-2020 until the end of 2022. But a growing share of renewables has steadily driven down domestic coal consumption since 2008. In turn, carbon dioxide emissions have gradually dropped.
Solar and wind, extensive coastlines and proximity to hungry Asian markets, make it an ideal location to produce green – renewable-derived – solar power.
By 2030, the island continent could be the leading exporter of green hydrogen in the world, according to projections from consultancy Rystad. There is even hope to find naturally-occurring “white” or “gold” hydrogen underground in South Australia.
Hydrogen is also key to decarbonising the large domestic metals mining and processing industry. That is the vision of Andrew “Twiggy” Forrest, chairman of Fortescue Metals and the second-richest Australian.
In partnership with software billionaire Mike Cannon-Brookes, he launched SunCable, a plan to build a $21 billion, 4,300km electricity line to carry Australian renewable electricity to Singapore. Mr Cannon-Brookes is now forging on alone, after they parted ways over Mr Forrest’s preference for hydrogen exports.
These natural advantages are combined with political stability – despite the superficial turmoil of a revolving door of prime ministers, usually expelled by their own party colleagues. It has a trusted legal system, a skilled workforce and good infrastructure.
Like Canada, Australia is a rare wealthy western democracy that is also a leading mining destination, making it attractive as a supplier of critical minerals to planned clean energy manufacturing in the US and Europe. Covid apart, Australia has not suffered a recession since 1991.
So far, so good – by luck or by skill. But Australia’s energy powerhouse faces challenges.
First is the LNG industry. Competition is heating up: the US and Qatar have massive expansion programmes, which may lead to a glut of the fuel around 2027, and a sharp drop in prices.
Australia’s LNG projects are already very expensive to construct and operate compared to its competitors, from a combination of technical challenges and remoteness, strict environmental regulations, strong labour unions, and poor project management by many of the companies involved.
Meanwhile, Japan’s Inpex, a major investor in Australian LNG, suggested last year that the country was “quietly quitting” the business.
The company was concerned about what it saw as retrospective changes to the rules, including an increase in petroleum taxation, the introduction of carbon taxes, and the requirement for new gasfields to be net-zero carbon.
The east coast has suffered from very expensive gas to domestic users while companies sell LNG overseas, sparking calls for exports to be halted. That in turn worries international customers, including Japan, who saw Australia as a guarantor for their energy security.
But the introduction of a cap on gas prices, and opposition from environmentalists and farmers, makes it hard to develop new gasfields in the more populated eastern states.
Rather than growing to keep up with rivals, LNG production is likely to decline as older fields are exhausted and not replaced by new developments.
Second is coal. This was more than a quarter of the country’s entire exports in 2022. But of the key export destinations, only India seems a likely long-term growth market.
Others are boosting domestic coal output, as China is doing, or trying to get off the dirty fuel entirely in favour of renewables, gas and nuclear power.
Third, relatedly, is carbon. Climate policy has oscillated between a succession of Liberal (centre-right) and Labor (centre-left) governments. Emissions are dropping, helped by the renewable boom and some creative accounting on carbon uptake by the land. Electric vehicles are finally gaining speed.
Nevertheless, the country is still well short of sufficient climate targets, and recent progress could be undone by a new government, with elections due by September next year.
Fourth is global warming. Australia’s strong reputation for agriculture and tourism belie its largely hot, arid climate. It suffered a severe drought between 2017-19, devastating wildfires in 2019-20, and the famed Great Barrier Reef is increasingly threatened by bleaching as the sea becomes intolerably hot for its corals.
Australia has the advantage of its non-carbon commodities, particularly the energy-transition related minerals that will see rising demand. However, even very successful hydrogen exports will not fully replace the profits from LNG and coal.
Australia has some first-class minerals and energy companies, entrepreneurial talent and technology. Sixty years on from Mr Horne’s book, it has a lot more going for it that just luck.
But, like other energy exporters, it needs to unite federation, states, companies and population around a vision that resolves its climate and carbon contradictions.
Robin M. Mills is chief executive of Qamar Energy, and author of The Myth of the Oil Crisis
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
match info
Maratha Arabians 138-2
C Lynn 91*, A Lyth 20, B Laughlin 1-15
Team Abu Dhabi 114-3
L Wright 40*, L Malinga 0-13, M McClenaghan 1-17
Maratha Arabians won by 24 runs
UK-EU trade at a glance
EU fishing vessels guaranteed access to UK waters for 12 years
Co-operation on security initiatives and procurement of defence products
Youth experience scheme to work, study or volunteer in UK and EU countries
Smoother border management with use of e-gates
Cutting red tape on import and export of food
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'Cheb%20Khaled'
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Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
RESULTS FOR STAGE 4
Stage 4 Dubai to Hatta, 197 km, Road race.
Overall leader Primoz Roglic SLO (Team Jumbo - Visma)
Stage winners: 1. Caleb Ewan AUS (Lotto - Soudal) 2. Matteo Moschetti ITA (Trek - Segafredo) 3. Primoz Roglic SLO (Team Jumbo - Visma)
Points Classification
1. Marcel Kittel (Germany / Quick-Step) 63
2. Arnaud Demare (France / FDJ) 38
3. Andre Greipel (Germany / Lotto) 25
4. Sonny Colbrelli (Italy / Bahrain) 24
5. Mark Cavendish (Britain / Dimension Data) 22
6. Taylor Phinney (U.S. / Cannondale) 21
7. Geraint Thomas (Britain / Team Sky) 20
8. Thomas Boudat (France / Direct Energie) 20
9. Stefan Kueng (Switzerland / BMC Racing) 17
10. Michael Matthews (Australia / Sunweb) 17
The Breadwinner
Director: Nora Twomey
Starring: Saara Chaudry, Soma Chhaya, Laara Sadiq
Three stars
Results
5.30pm: Maiden (TB) Dh82,500 (Dirt) 1,600m, Winner: Panadol, Mickael Barzalona (jockey), Salem bin Ghadayer (trainer)
6.05pm: Maiden (TB) Dh82,500 (Turf) 1,400m, Winner: Mayehaab, Adrie de Vries, Fawzi Nass
6.40pm: Handicap (TB) Dh85,000 (D) 1,600m, Winner: Monoski, Mickael Barzalona, Salem bin Ghadayer
7.15pm: Handicap (TB) Dh102,500 (T) 1,800m, Winner: Eastern World, Royston Ffrench, Charlie Appleby
7.50pm: Handicap (TB) Dh92,500 (D) 1,200m, Winner: Madkal, Adrie de Vries, Fawzi Nass
8.25pm: Handicap (TB) Dh92,500 (T) 1,200m, Winner: Taneen, Dane O’Neill, Musabah Al Muhairi
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Arabian Gulf Cup FINAL
Al Nasr 2
(Negredo 1, Tozo 50)
Shabab Al Ahli 1
(Jaber 13)
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
UAE currency: the story behind the money in your pockets
Killing of Qassem Suleimani
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
The biog
Favourite food: Fish and seafood
Favourite hobby: Socialising with friends
Favourite quote: You only get out what you put in!
Favourite country to visit: Italy
Favourite film: Lock Stock and Two Smoking Barrels.
Family: We all have one!
Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
The specs
Engine: 2.0-litre 4-cyl
Power: 153hp at 6,000rpm
Torque: 200Nm at 4,000rpm
Transmission: 6-speed auto
Price: Dh99,000
On sale: now
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MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
More from Rashmee Roshan Lall
Three tips from La Perle's performers
1 The kind of water athletes drink is important. Gwilym Hooson, a 28-year-old British performer who is currently recovering from knee surgery, found that out when the company was still in Studio City, training for 12 hours a day. “The physio team was like: ‘Why is everyone getting cramps?’ And then they realised we had to add salt and sugar to the water,” he says.
2 A little chocolate is a good thing. “It’s emergency energy,” says Craig Paul Smith, La Perle’s head coach and former Cirque du Soleil performer, gesturing to an almost-empty open box of mini chocolate bars on his desk backstage.
3 Take chances, says Young, who has worked all over the world, including most recently at Dragone’s show in China. “Every time we go out of our comfort zone, we learn a lot about ourselves,” she says.
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
No Shame
Lily Allen
(Parlophone)
India squad for fourth and fifth Tests
Kohli (c), Dhawan, Rahul, Shaw, Pujara, Rahane (vc), Karun, Karthik (wk), Pant (wk), Ashwin, Jadeja, Pandya, Ishant, Shami, Umesh, Bumrah, Thakur, Vihari
Match info
Newcastle United 1
Joselu (11')
Tottenham Hotspur 2
Vertonghen (8'), Alli (18')
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It’ll be summer in the city as car show tries to move with the times
If 2008 was the year that rocked Detroit, 2019 will be when Motor City gives its annual car extravaganza a revamp that aims to move with the times.
A major change is that this week's North American International Auto Show will be the last to be held in January, after which the event will switch to June.
The new date, organisers said, will allow exhibitors to move vehicles and activities outside the Cobo Center's halls and into other city venues, unencumbered by cold January weather, exemplified this week by snow and ice.
In a market in which trends can easily be outpaced beyond one event, the need to do so was probably exacerbated by the decision of Germany's big three carmakers – BMW, Mercedes-Benz and Audi – to skip the auto show this year.
The show has long allowed car enthusiasts to sit behind the wheel of the latest models at the start of the calendar year but a more fluid car market in an online world has made sales less seasonal.
Similarly, everyday technology seems to be catching up on those whose job it is to get behind microphones and try and tempt the visiting public into making a purchase.
Although sparkly announcers clasp iPads and outline the technical gadgetry hidden beneath bonnets, people's obsession with their own smartphones often appeared to offer a more tempting distraction.
“It's maddening,” said one such worker at Nissan's stand.
The absence of some pizzazz, as well as top marques, was also noted by patrons.
“It looks like there are a few less cars this year,” one annual attendee said of this year's exhibitors.
“I can't help but think it's easier to stay at home than to brave the snow and come here.”
Match info:
Leicester City 1
Ghezzal (63')
Liverpool 2
Mane (10'), Firmino (45')
THE SPECS
Touareg Highline
Engine: 3.0-litre, V6
Transmission: 8-speed automatic
Power: 340hp
Torque: 450Nm
Price: Dh239,312
Company profile
Name: Steppi
Founders: Joe Franklin and Milos Savic
Launched: February 2020
Size: 10,000 users by the end of July and a goal of 200,000 users by the end of the year
Employees: Five
Based: Jumeirah Lakes Towers, Dubai
Financing stage: Two seed rounds – the first sourced from angel investors and the founders' personal savings
Second round raised Dh720,000 from silent investors in June this year
Jeff Buckley: From Hallelujah To The Last Goodbye
By Dave Lory with Jim Irvin
UAE jiu-jitsu squad
Men: Hamad Nawad and Khalid Al Balushi (56kg), Omar Al Fadhli and Saeed Al Mazroui (62kg), Taleb Al Kirbi and Humaid Al Kaabi (69kg), Mohammed Al Qubaisi and Saud Al Hammadi (70kg), Khalfan Belhol and Mohammad Haitham Radhi (85kg), Faisal Al Ketbi and Zayed Al Kaabi (94kg)
Women: Wadima Al Yafei and Mahra Al Hanaei (49kg), Bashayer Al Matrooshi and Hessa Al Shamsi (62kg)
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Killing of Qassem Suleimani
Company%20Profile
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THE BIO: Martin Van Almsick
Hometown: Cologne, Germany
Family: Wife Hanan Ahmed and their three children, Marrah (23), Tibijan (19), Amon (13)
Favourite dessert: Umm Ali with dark camel milk chocolate flakes
Favourite hobby: Football
Breakfast routine: a tall glass of camel milk
The biog
Nickname: Mama Nadia to children, staff and parents
Education: Bachelors degree in English Literature with Social work from UAE University
As a child: Kept sweets on the window sill for workers, set aside money to pay for education of needy families
Holidays: Spends most of her days off at Senses often with her family who describe the centre as part of their life too
Zayed Sustainability Prize
