Do Aussies Dream of Electric Popemobiles? Vehicle Efficiency Standards

Let Me Sum Up

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Your intrepid hosts have charged into 2024 and are serving you the hottest takes on the spiciest topics. It’s good to be back!

We kick things off by recapping Big Thinkers Ross Garnaut and Rod Sims’ appearance at the National Press Club on 14 February where the duo presented some big think ideas on how Australia could acquire energy Superpower status. A Carbon Solutions Levy proposed on the carbon content of all fossil fuels produced in or imported to Australia would fund the Capacity Investment Scheme, building of new transmission and hydrogen pipelines and support early development in Superpower industries like processing iron, aluminium and other critical minerals for export. Is this a Deadpool/Wolverine bromance destined for critical success? Only time may tell!

Our main paper

The Australian Government’s hotly anticipated Cleaner, Cheaper to Run Cars: The Australian New Vehicle Efficiency Standard is out for consultation (you’ve got until March 4 people) and the scrutiny of your intrepid hosts. We have been talking about vehicle efficiency standards for donkeys’ years and the Government is keen to no longer be in a club with Russia as one of two advanced economies left without them. An ambitious timeline to see us converge with proposed (OR ARE THEY) US standards by 2028 would push a big uptick of EVs in new vehicle fleets but will it all be down to our ability to COMPLETE A GOVERNMENT IT PROJECT in time?

One more things

Tennant’s One More Thing is ex-Bloomberg New Energy Finance charts maven Nat Bullard has published his latest annual chart-a-thon on decarbonisation progress. It is a nerdy datafeast with loads that is positive, some provocative, and a sprinkling of grimness.

Frankie’s One More Thing is the US EPA’s introduction of a Waste Emissions Charge for methane on oil and gas facilities that exceed specified thresholds. Combined with rule changes announced at COP28 as part of their Methane Emissions Reduction Program, provides a roadmap other signatories to the Global Methane Pledge could be getting on with!

Luke’s One More Thing is riff on one of Garnaut's reflections in the Q&A following his press club address; governments of the past have taken on the task of making (and winning) the argument for doing Hard Things in the National Interest. It worked in the 1980s for microeconomic reform, can it work in the 2020s for climate policy?

And that’s all from us Summerupperers! Support our Patreon at patreon.com/LetMeSumUp, send your hot tips and suggestions for papers to us at [e-mail] and check out our back catalogue at letmesumup.net.