The economic logic supporting a government-led “net zero transition” that emphasises a pivot away from fossil fuels and towards alternative, lower-emissions energy sources does NOT rest on which of the following assumptions? (Assume that the goal of the net zero transition is to increase total Australian welfare.)A.Higher emissions are causally linked with ambient surface temperatures and other climatic conditionsB.Large-scale fossil fuel energy production is cheaper and more reliable than alternative energy productionC.Changes in energy use in Australia and elsewhere will suffice to change Earth’s temperature and mitigate other climatic changes within a reasonable time frameD.Energy markets do not price in the climate externality of emissionsE.Higher surface temperatures and other climatic changes linked to emissions will be on net harmful to Australians

Overview / Executive Summary of the report• The need for transition in the energy industry away from carbon-based energy production• The costs and benefits (viability) of transition to clean-energy infrastructure and power generation• Analysis of government role in supporting transition (or not)• The effectiveness of government policies• Suggest and justify recommendations for Australia to achieve Industry efficiency and macroeconomic objectives

Task Details / Description:Context: This economic project asks you to conduct research and make recommendations on the economicviability of decarbonising the Australian energy industry, its impact on the Australian economy and the role of government.Scenario: Analysing the economic impact on the Australian domestic economy of the decarbonisation of the Australian energy industry. Is iteconomically viable and should the government play a bigger role?Task:Students conduct an in-depth analysis of the need for, and the viability of, the Australian energy industry’s transition away from carbon-basedfossil fuels towards clean and renewable energies. They analyse data to evaluate the economic and social costs/benefits of such a transition onthe Australian economy. They also evaluate the economics of the AustralianGovernment’s policy position on industry transition, make well-reasoned conclusions about the effectiveness of such policy and makerecommendations regarding the most appropriate policies that will help achieve Australia’s macroeconomic objectives.Students conduct their analysis by:Researching data on the need for transition, reading and analysing media releases and government and industry body studies, selecting otherrelevant data (quantitative and qualitative) that can assist in evaluating the impact of transition (or consequences of not transitioning), governmentrole in supporting transition, and effectiveness of government policy in the energy industry.Possible framework:• Overview / Executive Summary of the report• The need for transition in the energy industry away from carbon-based energy production• The costs and benefits (viability) of transition to clean-energy infrastructure and power generation• Analysis of government role in supporting transition (or not)• The effectiveness of government policies• Suggest and justify recommendations for Australia to achieve Industry efficiency and macroeconomic objectives

Fossil-fuel based pattern of energy use does not impact:a.environmental pollutionb.limited natural reservec.population growthd.lack of long-term sustainability

Whether alternative energies such as the renewable energies biofuels, hydrogen, solar, and geothermal and non-renewable alternatives like nuclear energy can meet energy demands better than finite fossil fuels such as oil and coal remains hotly debated. Proponents of alternative energy say that a transition away from fossil fuels is in progress and simply needs to be expedited to meet current energy demands. They believe that alternative energy sources can effectively replace fossil fuels in key areas that keep industries and countries running, from power to public and private transport to thermal comfort. However, the International Energy Agency projects global energy demand will rise more than 25 percent by 2040, driven by population growth and rising incomes and skeptics argue that ______________9Mark for ReviewMCQABCWhich choice most logically completes the text?Aalternative energy sources will not be able to meet this increasing energy demand.Bsome energy sources may be able to meet the increased demand but most will not.Cenergy needs in key areas will not be met by renewable energy sources.Dalternative energy sources have already proven that they are not able to meet present energy demands.

For its energy consumption, Australia is dependent on what percentage of fossil fuels?Question 15Select one:a.close to 95% of energy consumption comes from fossil fuels (argh!)b.75%, the rest comes from wind and solarc.about 50% renewable, 50% fossil fuelsd.only 55% like France because of the early adoption of nuclear in Canberra