Comment

Climate change and confusing 'economic activity' with 'economic prosperity'

By Richard Denniss
Updated April 24 2018 - 11:36am, first published January 15 2016 - 1:45pm

Over the past decade Australia bet hundreds of billions of dollars that the rest of the world wasn't serious about tackling climate change. It looks like we lost. World demand, and in turn the prices we receive for our precious raw materials, are collapsing under the weight of the oversupply we helped cause. While demand for coal stubbornly refuses to live up to the optimistic forecasts of Australian politicians, the price of renewables keeps falling faster than its most ambitious boosters predicted.

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