The Lecture fuels is over. Affordable oil then gas may have less than one more
generation. Coal, with much greater resources, has a key role to
Six generations have elapsed since the industrial revolution. play in a transition to a world running on other energy sources.
Global GDP/capita has increased twenty-fold. Cheap, abundant Yet many would prefer to see coal the first fossil fuel to disappear.
energy from coal, oil and gas has enabled one sixth of the world’s
population – those of us in the OECD – to enjoy a standard of Although countries rich in resources per capita, like Australia and
living unimaginable in the previous two hundred generations. Yet New Zealand, have an opportunity – unique in history – to meet
three quarters of the world still has a GDP/capita less than quarter these global needs we are already seeing the massive tensions it
the OECD average. Thirty percent live in poverty and twenty creates. How we manage this defines our new global responsibility.
percent have no electricity. The UNDP Millennium Development
Goals look no closer than they did over a decade ago.
Background
Most of the developing world now target the standard of living
we enjoy today. If current trends continue, within one further Mitsubishi Development Pty Ltd is a major stakeholder in surface
generation global GDP will increase by as much again as it did in coal mining operations in Australia through its associations with
the past 200 generations. This may not be possible. It requires BHP Billiton in Qld, and Xstrata and Rio Tinto in NSW. The company
global supply of most resources, and food, to nearly double, when is supporting minerals tertiary education at UNSW through a range
these are becoming increasingly constrained. The period of human of initiatives that include undergraduate scholarships and an annual
history with never-ending economic growth fuelled by cheap fossil public lecture on a topical aspect of mining.
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