Coal remains key economic contributor

Low carbon and net zero may be trending catchcries globally, but latest export figures show coal and gas are still bringing home the bacon for Australia. ABS data published earlier this week showed Australia’s resources and energy exports hit $348.9 billion in the 12 months to December 2021 - a 29 per cent jump on the previous year. Federal Resources Minister Keith Pitt highlighted the role of coal and LNG. “Coal was again a major contributor with exports totalling $23.8 billion in the three months to December 2021 – a massive 156 per cent higher than for the same period to December 2020," he said. “Liquefied natural gas exports saw a similar increase. The $18.3 billion earnt in the three months to December 2021 was 148 per cent higher than for the same period in the previous year.” Read further details on the export figures for minerals in our story HERE Queensland Resources Council (QRC) chief executive Ian Macfarlane said the Queensland economy was the major beneficiary of a buoyant resources sector. "Queensland Treasury figures show the total value of state exports rose by almost $16 billion last year to reach more than $79 billion,” he said. “Around 80 per cent (or $63 billion) of that amount comes directly from Queensland’s resources exports. QRC chief executive Ian Macfarlane. "Much of this growth was driven by coal, which is Queensland’s number one export and experienced a 45 percent (or $10.4 billion) increase in value over the past 12 months. “That’s why it’s so important for our sector to get our response to climate change right - our industry supports the jobs of more than 420,000 people and 15,000-plus businesses around the state. ”We support our industry achieving net zero by 2050, and will be doing everything we can to lower our emissions and become more sustainable in the long-term using the best available technology.” Results released this week from a survey commissioned by the Climate Council found only a quarter of voters in Queensland (26 per cent) and about one fifth in New South Wales (21 per cent) believe their state’s future prosperity lies in coal and gas. YouGov polled more than 2000 voters in regional, rural and metropolitan Queensland and NSW for the survey. It found six in 10 people believed the states’ future economic prosperity lay in clean industries, such as renewable energy exports (e.g. green hydrogen), critical minerals like lithium and cobalt, and manufacturing renewable products. Related: Call for job deals in regions facing ‘net zero’ crunch Two-thirds of those polled in Queensland said jobs in renewable energy would be the best source of future employment (63 per cent), while 27 per cent backed fossil fuels as the best source of future jobs. Only two in 10 believed workers who relied on fossil fuels were getting enough support to prepare for a decarbonised future without coal and gas. “This polling reveals that people in New South Wales and Queensland understand the era of coal and gas in this country is coming to a close as the world rapidly decarbonises," Climate Councillor Nicki Hutley said. "They strongly support government investment in new, clean industries that will future-proof jobs and secure our economic prosperity."

Coal remains key economic contributor

Industry Queensland

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