Treasury modelling shows coal production drops by 30% by 2020
Prime Minister Julia Gillard and Treasurer Wayne Swan might keep saying that the coal industry has a bright future, but the Treasury economic modelling shows a different story.
Wayne Swan said only two days ago that “Australia was going to be exporting more coal”. That way the Chinese can burn it in their power stations instead of ours.
Perhaps Treasurer Swan should read some of his departments economic modelling. To quote from the Treasury modelling “In 2020, coal mining output is around 30 per cent lower than it would otherwise be” .
Looking at the attached graph it shows even greater variability, with a possible drop of up to 45% in coal production:
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