In today’s talking points Government tests interest in Sydney’s first mining licence since 1993, Turnbull beats Abbott over NEG, now Frydenberg has to win Victoria, Organic solar battery sets record for converting sunlight to energy in Chinese study, U.S. crude exports to China falling despite tariffs exception
Government tests interest in Sydney’s first mining licence since 1993
South 32, a global resource company, has applied for an exploration license in the Sydney Basin. This license allows for exploration in the area, with potential interest in looking at this area as a mining region.
In the event of the license being approved, approval for to mine is not guaranteed.
Sydney has not received an approved mining license since 1993.
Source: The Age
Turnbull beats Abbott over NEG, now Frydenberg has to win Victoria
After a hot debate in the Coalition party room this morning, the current Prime Minister Malcolm Turnbull gained more support for the NEG than previous Prime Minister Tony Abbott, who opposes the proposed legislation.
“I heard at least four lower house MPs formally reserve their position on the legislation and at least a dozen express serious concerns about the NEG or about turning the non-binding Paris targets into law with massive penalties attached”, Abbott stated.
The likelihood of the NEG scheme passing Parliament requires the support of Labor states, including Victoria and Queensland. The Victorian Energy Minister, Lily D’Ambrosio raised concerns that the emissions legislation could threaten Victorian jobs and the renewable energy industry.
State and territory leaders have been called upon by the Business Council of Australia to release the draft legislation on the NEG, before it is to be debated again in the coming weeks.
Source: The Conversation
Organic solar battery sets record for converting sunlight to energy in Chinese study
Chinese scientists have developed an organic solar battery which has set a record for converting sunlight into energy. The team achieved a 17% conversion rate, which is the closest to industry standard 18% to 22% from silicon solar cells.
Chen Yongsheng, a chemistry professor at Nankai University in Tianjin and a lead scientist on the study, said that this success could put organic solar cells in commercial use within 5 years.
Chen and his team achieved the high conversion rate by expanding the cells’ sunlight absorption range. Dubbed a tandem cell approach, their model has two layers of active materials which can absorb wider wavelengths of light and generate more current.
Source: South China Morning Post
U.S. crude exports to China falling despite tariffs exception
US Crude Exports to China Falling Despite Tariff Exception
According to Sandy Fielden of Morningstar, Crude oil exports from Texas, US to China have fallen sharply despite a tariff exception. Instead, China is buying more oil from Russia and Saudi Arabia.
US crude oil exports to China peaked at 400,000 barrels a day last year and early 2018. Now, those volumes are at 200,000 barrels a day.
US crude oil companies are compensating by exporting more oil to South Korea, Singapore, Taiwan, and Thailand.