THE Queensland Resources Council (QRC) says predictions that the Australian coal export industry will collapse under a Carbon Pollution Reduction Scheme (CPRS) are “misplaced”.
QRC chief executive, Michael Roche, says the future of coal is closely linked to the commercial application of carbon capture and storage technologies (CCS), which will create a “bright future” for Australia’s coal industry.
He says without commercial support of the technology, Australia’s coal production could fall below current levels and dampen its future.
In response to the Federal Treasury’s economic modelling of the CPRS scheme, Roche says putting a ‘market price’ on carbon will not be enough to ensure the rapid take-up of CCS technology.
He is urging the Federal government to fund all low-emissions technologies, including CCS, as part of its final design and timetable for the CPRS Scheme.
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