LIKE many in the business world, the coal industry was battening down the hatches for a change in government when Scott Morrison surprised the nation by winning the May election.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
Nearly three months on, the PM and his ministers are looking to utilise their fresh political capital to prosecute their agenda.
Resources Minister Matt Canavan made that abundantly clear yesterday when he unveiled a Productivity Commission review of resources regulation that he said was needed because of the damage done to Australia's resources reputation by environmental activists delaying the approval of projects through "lawfare" and other means.
Those on the other side of the environmental debate, of course, believe it's the Coalition - especially under the recently defeated Tony Abbott - that's been doing the damage.
The government's opponents will also place little faith in Mr Canavan's pledge to maintain "robust environmental standards and regulation implemented in a consistent and reasonable way".
The contrary view: The end of coal in the Hunter is coming, by Phillip O'Neill
That's especially the case when Mr Canavan was able to make it through a coal-heavy speech without mentioning climate change or global warming.
The minister can rally all he likes against annoying activists and Labor politicians waving "the white flag" of surrender for the industry. The real decisions about coal are being made by hard-headed bankers and global insurance giants who have crunched the numbers and decided to get out. If the government is to seriously find some middle ground in an increasingly polarised climate debate, it needs to acknowledge that both sides have their arguments.
For starters, the industry should accept that carbon capture and storage - which Mr Canavan raised yesterday - has made painfully little progress over three decades.
And environmentalists must realise that renewable energy has no chance of powering a reliable grid without dramatic breakthroughs in electricity-storing or "balancing" devices - hence the continued need for baseload electricity by coal or by gas.
Past experience tells us neither side is likely to move much on their core beliefs, but the reality of the ballot box has given the coal industry a golden opportunity in the form of three unexpected years of federal government support. A "hi-vis revolution", as Mr Canavan called it yesterday.
ISSUE: 39,375.
While you're with us, did you know The Herald is now offering breaking news alerts, daily email newsletters and more? Keep up-to-date with all the local news - sign up here.
IN NEWS TODAY:
