Not so fast!
1. overall mining is about 9% of our GDP but that GDP comes at the cost of other GDP. (See below).
2. Fossil fuels are only part of that 9% GDP as the rest is opals and metals and uranium, etc. As long as we mine carefully and in an environmentally sensitive manner, metal mining is an important part of the economy.
3. I object to the fossil fuels that pollute and kill and scar and infect and whose price should basically be DOUBLED to account for their public health costs. And that’s before trying to account for climate change!
4. When our mining GDP rises too fast and raises the value of our dollar, our mining GDP may actually detract from significant percentages of manufacturing and tourism. Witness the collapse of car manufacturing in this country.
“The impact of the current mining boom in Australia, aided by unprecedented demand for minerals from an emerging China, has helped this nation to withstand global financial turmoil. Australia’s mining and energy resources – coal, iron ore, gold, bauxite, oil, gas, copper, uranium, etc – accounts for about 9% of GDP, but more than half of national exports. The resources sector is booming, however its success may cause problems elsewhere, such as pushing up the value of the dollar, which can adversely affect sectors like manufacturing and tourism.”