A leading German climate scientist, 'Hans Joachim Schellnhuber' has predicted Australia's resources boom will come to an end faster than many Australian's think. The cause, he predicts, is the fact that China is now starting to exploit its own coal reserves and continues to invest heavily in the development of its renewable energy sector. The concentration of R&D focus, investment and actual projects is estimated to be four times that of Australia, which is becoming renown globally as a laggard in the Renewable Energy Industry.
Hans Joachim Schellnhuber' told a climate conference in Melbourne yesterday that Australia had not maximised its competitive advantage on alternative power. He has also raised the point that Australia's recent announced $23 per tonne carbon tax was not sufficient to provide the type of contribution Australia should be making to emissions reduction.