b'Canberra observed It is not clear why these issues are not included as priorities.For record the five priority technologies and goals to make new technologies as cost-effective as existing technologies are:Hydrogen production under $2/kg.Long duration energy storage (6 hours or more) dispatched at less than $100/MWh.Low carbon materialslow emissions steel production under $900/t, low emissions aluminium under $2700/t.CCSCO compression, hub transport, and storage under $20/t of CO.Soil carbon measurement under $3/ha/yra 90% reduction from todays costs.Figure 1.Daily oil price of West Texas Crude, from https://www.macrotrends.net/2516/wti-crude-oil- And there eleven key actions:prices-10-year-daily-chart. Establish a Technology Investment Framework to prioritise the Governments investments in new technologies.Invest $1.9 billion in a new energy technology package; establishing Australias first regional hydrogen export hub, a King Review Co-Investment Fund, a CCS Deployment Fund and a Future Fuels Fund to support new and emerging technologies.Finalise new or revised Emissions Reduction Fund methods to support CCS and soil carbon within 12 months.Commence a soil carbon innovation challenge to rapidly reduce the cost of measuring the impact of new farming practices on soil carbon sequestration.Introduce legislative reforms to ARENA and the CEFC to give their boards flexibility to respond to the Governments priorities.Require key agencies (ARENA, CEFC Figure 2.Quarterly investment in mineral, total petroleum and onshore petroleum exploration 2005-2020.and the CER) to focus on accelerating The investment in offshore exploration appears to be at its lowest point for 30 years the priority technologies.Direct key agencies to publicly report appears to be the lowest expenditureGovernments plan to loweron what action they are taking to in at least the last 30 years and, in a rareemissions still hooked on fossil fuels accelerate the priority technologies.event, the seasonally adjusted onshoreEstablish a permanent Technology investment ($153 million) was larger thanIn September, the Morrison GovernmentInvestment Advisory Council.that offshore. released its plans to reduce AustraliasExpand Australias international greenhouse emissions.There is still ancollaboration with trading partners.The implications for the governmentsemphasis on fossil fuels.And no targetsConduct a review of legislative or policy to invite companies to bid forhave been set. regulatory barriers to technology offshore exploration tenements areCarbon Capture and Storage is on the list,uptake as part of the second annual huge. Does it persist in trying to inviteeven though it has still not been provenLow Emissions Technology Statement.companies to explore, or does it just waitcost effective, after over 20 years ofComplete the development of and see what happens in a years time?experimentation, and hydrogen is goingAustralias Long Term Emissions Difficult decisions; made harder by theto be mainly sourced from LNG. Reduction Strategy before COP26.high cost of offshore exploration and development. There is nothing in the statementThe Low Emissions Technology about encouraging electric transport,Statement is available on the Maybe best to do nothing at theimproving the efficiencies of solar panelsDepartment of Industry, Science, Energy moment. But that may not be the adviceand wind generators or designing andand Resources website: http://industry.the Government wants to hear. building more energy efficient buildings. gov.au/LETS202031 PREVIEW OCTOBER 2020'