Clean Global Energy (ASX:CGV) Speaks At Financial Review National Energy Conference
Sydney, Oct 8, 2010 AEST (ABN Newswire) - Video is now available on the Clean Global Energy (ASX:CGV) website, showing company Chairman and Managing Director, John Harkins, and his contribution to a panel discussion on the topic of the future of coal at the Australian Financial Review's National Energy Conference in Sydney on September 15.
Conference speakers included AGL (ASX:AGK) (PINK:AGLNY) CEO, Michael Fraser, SP AusNet (ASX:SPN) Managing Director, Nino Ficca, Infigen Energy (ASX:IFN) Managing Director, Miles George, and Liquefied Natural Gas (ASX:LNG) CEO, Maurice Brand.
The conference examined Australia's energy future in the absence of a carbon pollution reduction scheme and with a newly elected federal government.
During the panel session, Mr Harkins said the use of fossil fuels like coal would continue and agreed with the reported statement by new federal Climate Change and Energy Efficiency Minister, Greg Combet, that coal is here to stay.
He quoted national energy market figures listing coal as providing 85% of Australia's energy needs, 8% came from gas, 5.5% from hydro and 1.3% from wind.
However, Mr Harkins said the electricity industry needed to encourage use of cleaner coal technology.
"While I take on board a lot of things Michael Fraser from AGL is doing, generally, I think the electricity industry has had an easy ride in terms of the reliance on coal-fired power stations," Mr Harkins said.
"I think the electricity industry over the last 30 years has not encouraged investment in cleaner coal technology."
Mr Harkins said Clean Global Energy has a future in providing cleaner coal technology solutions for Australia and globally, enabling coal to remain the original energy source for power stations.
He also said a carbon price in Australia was inevitable and would give certainty to the industry.
"It will give traction to companies like us because of the much reduced carbon footprint that our technology application produces."
"We've been denied that traction in the markets for some considerable time. A carbon price will enable us to take our proper place at the table in terms of contributing in a much cleaner way to energy production in Australia, a much cleaner way of utilising coal."
Mr Harkin's presentation at the energy conference is available from Clean Global Energy's new website in the News section, under Media Interviews/Boardroom Radio.
Here is a direct link to the Media Interviews page on the website. Select Boardroom Radio to view the video:
Chairman and CEO
Clean Global Energy Limited