The reality of Australia’s trade position was spelt out clearly in the Senate Economics Committee in Canberra today. The Department of Resources, Energy and Tourism was questioned on where our Nation’s money actually comes from and who in reality pays the bills, said Senator Barnaby Joyce, the Leader of the Nationals in the Senate.
“Australia’s major exports are under threat from an Emissions Trading Scheme. The reality is that there are no green jobs in the photovoltaic cell industry as we do not produce photovoltaic cells, we do not produce any wind turbines and for all intents and purposes there are no renewable energy exports.
“What was made quite evident was the Department confirmed that Australia produces $54.679 billion worth of coal, $34 billion of iron ore and $17.33 billion of gold and that is before we start talking about beef, mutton, wheat and wool.
“Our largest export, coal, would be put under threat from an ETS. Our second largest is iron ore and by inference that would be put under threat because you need coal to make steel. The greatest export opportunity is in LNG but our economic wunderkind is placing this under an ETS. Agriculture will be for the chop in 2015. Maybe this is part of the government’s new policy position on obesity.
“We are replacing the reality of our Nation’s economics with a fanciful aspiration. The cost of this misguided scheme will be opulence in the short term for the carbon credit traders at a skyscraper in the middle of town that may not even be in our country. The unfortunate experience of being mugged by reality will occur at our leisure as industries stagnate or topple.
“If we put under threat our major exports which sustain our standard of living, reduce our capacity to feed ourselves and we borrow beyond our capacity to repay what can you possibly expect but a path to destitution as the fruits of your Labor.”