Queensland Deputy Premier and Treasurer Jackie Trad is quoted in the Courier-Mail today on the future of thermal coal in Queensland:
QUEENSLANDERS working in thermal-coal mines should start reskilling now to prepare for the decline of the industry, according to Treasurer Jackie Trad…
…“The fact of the matter is, economics is moving away from thermal coal, communities are moving away from thermal coal, nation states are moving away from thermal coal,” she said. “What we need to do as a coal exporter is understand that and equip our communities with the best possible chance of reskilling, and that’s why we’re focused on other materials.”
This sounds pretty sensible to me and consistent with recent developments globally which I discussed in my most recent QEW Week That Was video. While I have been critical of the state government for its flip-flopping approach to the Adani Carmichael mine (e.g. from p. 212 of my book Beautiful One Day, Broke the Next), this latest statement from the Treasurer is economically sound.
I’ve previously posted on this issue (Coal, climate change, solar & batteries – why Qld Treasury wanted to offload the state’s energy assets), and have noted that the Mackay and Central Queensland regions are especially vulnerable to any changes in global sentiment and demand for coal (see chart below).