This country’s grip on world coking coal supplies means we are well-placed to force up prices and discourage coal use.
There is no more important issue for Australia’s national interest than addressing climate change, an overriding common good that transcends specific interests of political parties, factions and companies.If there is a global consensus about one thing to do urgently, it is to stop producing and burning coal.New coal mine approvals followed in Queensland and NSW. There are a host of others in the pipeline waiting for approval.
This sort of thinking demonstrates a lack of awareness about three important things: our total exported coal matters more than all of the emissions we produce inside Australia; the types of coal we export are very different; and economic policies are available to reduce the damage we are causing without hurting Australia’s national interest.
The coal we export is shown in the chart versus the other major exporters. It is broken up into high quality coking coal and thermal coal for 2022 versus 2020 . It also shows each supplier’s exports to China, a country that tried to cancel Australia by cutting all imports from us, some 72 million tonnes in 2020, split evenly between metallurgical and thermal coal.Metallurgical coal constitutes the largest part of our exports, at 55 per cent of the total .
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