BlackRock’s decision to dump coal signals what’s next
Australia needs to exit the export coal business. We should go dig some other rocks up out of the ground, we have a lot of them...We are responsible for 37% of global coal exports. That's massive. If we halt coal exports it would put a squeeze on the coal supply and that raise prices; probably significantly. Coal power plants are already on thin margins. If cost of coal increased for a sustained period (a few years) coal would be considered unviable as a fuel source. We should see a lot of the plants close down.Australia always talks about its self as being insignificant and anything we could do to help prevent climate change would have no measurable impact. This incorrect relatively and absolutely, we are one of the largest per capita emitters. But we are also the third largest exporter of fossil fuels.This is Australia's opportunity to actually do something significant to help address climate change.[1] http://www.worldstopexports.com/coal-exports-country/[2] https://www.abc.net.au/news/science/2019-08-19/australia-co2...