Last paragraph of today’s article in the Fin Review by the always insightful Allan Fels and Fred Benchley combination stated:
“(Kevin) Rudd is talking about 20 year policies. If he can shift Australia out of its complacency and short-term policitical vision he will be doing the country a service. With abundant coal, uranium, gas and enormous potential in renewables, Australia is uniquely placed – with a bit of foresight – to also be a leader in clean-energy technology.”
Short-term policies are often in danger of lacking foresight. Rather than just a bit of foresight, perhaps a lot of foresight could enlighten the direction of industry policy away from complacency and towards proactive engagement with picking potential winners and export earners for the national benefit. While picking winners is often risky, in this instance, foresight could be used to decrease the risks in order to understand the likely future environment. Energy policies need long term responses.
And in all the debate about energy policy, whether Australia should go nuclear or clean carbon, let’s not forget the enormous potential for geothermal as a long term renewable energy source.