We can't afford a fairytale transition

13 June, 2024

Russell Broadbent here, your independent Federal member for Monash.

Energy is vital to homes and businesses, the cheaper it is the better.

It’s an essential cost and the lower that we can keep it, the greater opportunities for households and businesses alike.

It could mean an extra holiday for the family, or for a business, it can allow them to be far more competitive.

Our government is at the mercy of foreign developers who put profits first, and Australia’s best interests second.

Lazy and indirect policy has attracted foreign developers because they know that this government can be taken advantage of.

Developers love the free money, in the form of 'subsidies', and it allows that nearly anything they do here can be profitable, so why would they care about how meddling with essential infrastructure will affect the average Australian?

Stakeholders of the energy industry, which is all of us, cannot afford this fairytale transition.

Energy resource companies will jeopardise their future to meet the initial costs of going through a 'renewable transition', creating a struggle to meet future obligations of renewing or upgrading their infrastructure.

Therefore, the costs will certainly be passed on to us as consumers, because that is all we are in the eyes of those who have to gain from this.

Super funds are usually huge investors in these companies, and many of us are investors in Super funds.

And we should be wary about the industry that is said to become obsolete because of this transition.

If these companies go under, their assets such as mines and processing plants could be picked up for a discount for foreign investors, and then we will finally get no benefit from the amazing natural resources we have in this country.

We have the resources, and we have the people.

Australia used to be a country that was known for industry and productivity.

Let's keep it that way by not ruling out a future that is truly in the interests of Australian people.

The dream was for cheap, reliable, renewable energy. But what we’ve got is an expensive and unreliable future in energy.

And that’s just as I see it.

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