Australia is using newly minted alliances on decarbonisation and critical minerals as part of a strategy to reduce reliance on costly fossil fuels.
Australia has signed a new technology partnership with the United States and joined an international alliance to secure global supply of critical minerals as Western nations ramp up efforts to cut carbon emissions and wean themselves off volatile oil and gas markets.an international conference of top regional and US officials and ministers
“We see with fossil fuels how volatile it is, but there is only one direction for the price of clean energy, and it continues irreversibly to move cheaper,” Secretary Granholm said.“This is truly about security – about our energy security and our energy independence as nations. “Our region, if we approach this the right way, also stands to benefit from extraordinary opportunities,” he said in a luncheon speech alongside his Indonesian counterpart, Arifin Tasrif, pointing to growth in battery minerals, green steel, hydrogen and solar.
Ms Granholm highlighted the focus of work in areas such as reducing the cost of electrolysers for the production of green hydrogen to $US1 for one kilogram within a decade, and bringing down the cost of long duration storage by 90 per cent to enable renewable energy to be used more like baseload power.International Energy Agency executive director Fatih Birol warned
Iron ore billionaire and green energy convert Andrew Forrest, who has tall ambitions in green hydrogen, said accelerating the transition to green energy would help avoid a repeat of the devastation that is hitting Ukraine because of the invasion by Russia. “The next best joke is carbon capture and storage, a once-promising technology now synonymous with cost blowouts and underperformance.”
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