Guest essay by Eric Worrall
Coal can power the restart, not divestment: Pitt
Resources reporterMay 6, 2020 – 12.01am
Federal Resources Minister Keith Pitt has lashed the ”misguided” lenders that have vowed to abandon coal, saying new mining and energy projects will be crucial in waking the economy from its coronavirus slumber.
Mr Pitt urged lenders to act in the best interests of their “bottom lines” and shareholders, saying Australia needed to get as many resources projects into development as possible.
He said this included further thermal coal mines in Queensland’s Galilee Basin, where Adani is building the $2 billion Carmichael project.
”Every single job in the future is critical and needs to be delivered, so whatever we have in our project list, we need to get over the line, functional, operational, and paying Australians to go to work,” he said.
”Adani is another great project for Australia as we move into an economic recovery phase from COVID. We are going to need more Carmichael mines and other resource developments to get us back to a pre-COVID footing.
”It is disappointing that some banks and financial institutions continue to indicate their intention to withdraw support for our resources sector through misguided ideological reasons to appease green shareholder activists. I would strongly encourage them to look to their bottom lines and act in the best interests of all shareholders.”
…Read more: https://www.afr.com/companies/mining/coal-can-power-the-restart-not-divestment-pitt-20200505-p54psp
We like Aussie Federal Resources Minister Keith Pitt.
Keith Pitt consistently speaks out against the cost of green energy, and the damage high cost green energy is doing to businesses and jobs in his district. Pitt is a consistent supporter of coal and nuclear power. In 2018 Pitt resigned his post as a minister in Scott Morrison’s government, denouncing his own party’s commitment to the Paris Agreement. Keith Pitt was appointed resources minister in the Scott Morrison government in February this year.
In the last Australian federal election Keith Pitt’s vote went up 6.1%. Most of the votes Pitt gained were lost by the Australian Labor Party, which campaigned on climate issues, and their plans for hard carbon targets.
Before he entered politics Keith Pitt was a power engineer, so he is one of the few politicians in Australia who knows how to do the math. He has the personal expertise to see straight through the lies of the renewable energy industry.