Coal

The majority voted against a motion introduced by Greens Senator Christine Milne, which means the motion was unsuccessful.

Motion text

That the Senate—

(a) notes that:

(i) China's twelfth 5 year plan is expected to introduce caps on coal use from 2015,

(ii) the price of coking coal has already dropped some 40 per cent in the past year, due in large part to a drop in China's demand for imported coal,

(iii) China expects utility scale solar power to out-compete new coal-fired power stations by the end of the decade, while the Indian Government expects the cost crossover as soon as 2016,

(iv) India's economic giant, Tata Power, has publicly stated that its new investments will favour renewable energy, as coal power is becoming 'impossible' to develop,

(v) the Australian Bureau of Resource and Energy Economics (BREE) continues to predict that coal exports will double over the next two decades, and

(vi) Australia is leaving itself economically exposed by focusing on the development of coal export infrastructure; and

(b) calls on the Government to:

(i) require BREE to review its modelling based on the current geopolitics of coal, and

(ii) rethink Australia's economic settings, which assume ongoing increases in the coal export market, and instead look to broaden Australia's economic base and build a more competitive clean energy economy.