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Productivity growth has stalled since 2005 (and isn’t about to improve soon)

Peter Martin, Visiting Fellow, Crawford School of Public Policy, Australian National University Not long ago it seemed as if the future was going to get better and better — not long ago at all.The high point was around 2005, fifteen years ago. I don’t know if you can remember how you felt at the time, but for me the surge in living standards, driven by an ever-building surge in output per working hour (“productivity”) suggested things were building on themselves: each new innovation was making use of the ones that had come before to the point where…. Ray Kurzweil, now the director of research at Google, summed it up in a book released in 2005 itself, titled The Singularity Is Near. Singularity was “a future period during which the pace of technological change will be so rapid, its impact so deep, that human life will be irreversibly transformed”. Changes would build on each other to the point where everything changed at once. Kurzweil dubbed it the “law of accelerating returns”. Year by year in the leadup to 2005, Australia’s productivity growth had accelerated to the point where in the 15 years to 2005 it had grown 37%. If it kept accelerating… In the 1930s economist John Maynard Keynes foresaw “ever larger and larger classes and groups of people from whom problems of economic necessity have been practically removed”. On average the working week might fall to 15 hours. In the 1970s, futurologist Alvin Toffler spoke of a four-hour working day. And then from 2005 on productivity growth collapsed. In the 15 years since, Australia’s output per working hour (productivity) has grown by just 17%. Thirty seven per cent turned out to be the high point. And not only here. In the United States and other developed economies productivity growth is divided into “before 2005” when it […]

Red Zone

By Peter Hartcher, Political Editor, Sydney Morning Herald How Australia woke up to China’s challenge – and what comes next What does China want from Australia? In this incisive and original book, Peter Hartcher reveals how decades of economic dependence left Australia open to the strategic ambitions of the most successful authoritarian regime in modern history. He shows how ideology, paranoia and Xi Jinping’s personal story have reshaped China, and shines new light on Beijing’s overt and covert campaign for influence – over trade and defence, media and politics. Australia has now woken up to China’s challenge, from passing foreign interference laws to banning Huawei from our 5G network. But at what cost? Will we see a further slump in relations? How best to protect our security, economy and identity? Drawing on interviews with Scott Morrison, Malcolm Turnbull and other key policymakers, as well as leading Sinologists and a rare interview with Australia’s spy chief, Red Zone is a gripping look at China’s power and Australia’s future.

New Siemens Digital Energy TestLab launched at RMIT

The new Siemens – RMIT Digital Energy TestLab is the only one of its kind in Victoria, giving students and researchers the ability to simulate intelligent electrical systems for smart cities including national and local energy grids. Harnessing the power of data analytics, IoT, simulation and the same hardware and software being used by new generation national networks, the future energy workforce can test and model real-world scenarios and optimise energy systems for smart cities. This new initiative is an extension of the Memorandum of Understanding (MoU) signed by RMIT, Siemens and Festo last year with the mutual aim of driving industry and workforce transformation said Jeff Connolly, Chairman and CEO of Siemens in Australia. “I’m really proud to continue to work with RMIT and other Australian key educators to help drive better outcomes for the nation on critical topics such as digitalisation and energy. Gone are the days of siloed responsibilities between educational institutions and industry. “If employers want better outcomes from universities, then they need skin in the game in terms of collaborating on curriculum and tools for educators and researchers,” said Mr Connolly. Deputy Vice-Chancellor of RMIT’s STEM College and Vice President Digital Innovation Professor Aleks Subic welcomed this strategic partnership, saying that it opens new education and research pathways to one of the nation’s most critical topics – the future of energy for smarter and more sustainable cities. “Energy impacts every industry and every home in Australia. Our cities need smarter energy grids and systems that support our sustainable development agenda. Digital energy systems demand new digital skills,” Professor Subic said. “With a growing mix of energy types coming into the market, we’re focused on developing new technological solutions and new workforces to help progress our economy through Industry 4.0 towards a more sustainable future. “By […]

Solar winners using savings to innovate and invest in manufacturing

Renewable energy may have been a loser in the Federal Budget, but businesses in the manufacturing sector are investing in solar to save on power bills and using the savings to innovate and increase production. These solar winners are demonstrating how to improve the bottom line, increase profit margins and become more sustainable at the same time. Thomas Bell, Sales Director of world-leading solar solutions provider Energus, commented that manufacturers are rapidly embracing solar which is the world’s cheapest form of energy. Energus is a world-leading solar-solutions provider which has helped over 200 businesses, schools and community organisations across NSW convert to solar and save big on their energy bills. Two of these businesses are Motion Asia Pacific based in Chullora and Cooks Confectionery in Shellharbour, both of which have been able to use the savings to innovate and invest in their operations. Cooks Confectionery is one of Australia’s leading confectionery companies, which supplies premium quality chocolate, toffee and nut products to wholesalers, supermarkets, convenience stores, service stations and other retail outlets Australia-wide. In July 2020, Cooks Confectionery engaged Energus to install a 70kw solar energy system on the roof of its 1000 M² property, which led to a huge reduction in energy costs, enabling the company to double its shifts. “We effectively doubled production without increasing our energy costs,“ said Cooks’ Managing Director, Daniel Lezcano. Bell said, “We were very pleased to see that the huge reduction in energy costs enabled the company to double its shifts. Even with the introduction of the second shift and operations spanning from 6 am to 10 pm, the company’s energy bill stayed the same, thereby saving them $10K/quarter.” Given that the production of chocolate is high in energy use with the need to refine it for 10-12 hours, motors on for the […]

First test of a 30% natural gas/hydrogen blend

The world’s first test of a 30% natural gas/hydrogen blend in the forging processes used in industrial steelmaking has been held in Rho (province of Milan), at the Forgiatura A. Vienna plant. The trial involved the use of the hydrogen/gas mix to heat the furnaces of the Forgiatura A. Vienna plant and was successfully carried out on site after a series of studies and laboratory tests lasting about a year. The companies involved in the initiative were: Snam, one of the world’s leading energy infrastructure companies and developer and promoter of the project; RINA, a multinational inspection, certification and engineering consultancy, which handled the engineering analyses and laboratory phase; and GIVA Group, a global leader in steelmaking, which made Forgiatura Vienna available for the field test. The blend of methane and hydrogen was supplied by Sapio, an Italian company specialising in the production and marketing of industrial and medical gases. Marco Alverà CEO of Snam said “In the medium to long term, hydrogen is in a position to become the solution for decarbonising steelmaking as well as all hard-to-abate industrial sectors that have a fundamental role in our economy. “This trial is a preparatory step to the gradual introduction of zero-emission hydrogen, initially blended with natural gas and then in pure form, in certain steelmaking production processes. “Snam intends to make its infrastructure, research and expertise available to contribute to the creation of a national hydrogen supply chain and to the achievement of domestic and European climate targets”.

Budget 2021-22: What it means for the Circular Economy

With international pressure mounting on Australia to commit to more substantial action on climate change, Budget 2021-22 was an opportunity — coupled with a once-in-a-generation social license to spend strategically to ‘build back better’ — to set out the government’s strategy towards addressing these concerns. So what’s in the budget for the Circular Economy? Materials & recycling New funding for waste and resource recovery initiatives was a very modest $78 million. This was not unexpected after last year’s budget announcement of a historically significant ($250m) boost for Australia’s recycling infrastructure. The bulk of new funding has been directed towards diverting organic waste from landfill (thus also addressing emissions reduction). Recycling. The Government is investing $11 million to support Australia’s recycling industry, including an additional $5.9 million over four years from 2021-22 for the National Product Stewardship Investment Fund and $5 million over three years from 2021-22 to help small businesses adopt the Australasian Recycling label. Organic waste. The Government is investing $67 million over four years from 2021-22 to enhance organic waste facilities and support community education to reduce food waste going to landfill. This includes: $59.8 million to deliver grants in partnership with states and territories through a Food Waste for Healthy Soils Fund to enhance existing organic waste and processing infrastructure and make better use of this resource. $7.2 million to deliver a community and education program on the benefits of processed organic waste. NSW Circular welcomes these recycling and organic waste initiatives including the Food Waste for Healthy Soils. A similar grants program for textiles is urgently needed to tackle textile waste. Australia is ranked second in the world for textile disposal. Households account for nearly 90% of our textile waste. As a nation we threw away some 300,000 tonnes of textiles in 2018- 19. Of this, over 90% […]

Christopher-Boyle-Managing-Director-AFCryo

AFCryo unveils Green Hydrogen Production System for zero-emission refuelling

Christchurch-headquartered cryocooler developer AFCryo in conjunction with Clean Power Hydrogen (CPH2) has unveiled its Green Hydrogen Production System to provide a cheaper and more reliable way of generating green hydrogen from renewable sources for refuelling transport, generating power and industrial use. The revolutionary system, which splits water into pure hydrogen and medical grade oxygen without the polymer membrane used in common electrolysers, combines AFCryo’s world-leading cryogenic technology for gas separation and hydrogen liquefaction with unique and patented Membrane-Free Electrolyser technology from UK manufacturer CPH2. AFCryo and CPH2 have signed a landmark agreement to collaboratively develop and market the on-demand green hydrogen and oxygen production system. AFCryo is set to ship its first production unit to CPH2 in the UK, for integration with its electrolyser technology, for a commission to deliver Ireland’s first 1MW (megawatt) electrolyser-based system to produce pure hydrogen and oxygen. Christopher Boyle, Managing Director and co-founder of AFCryo, says the company is on a mission to add hydrogen to the global energy network to help governments, businesses and energy consumers reach bold emission reduction targets. “Hydrogen is one of the most scalable and viable options we have to help us make the energy transition to a lower-carbon economy. By joining forces with CPH2, we’ve created a faster, more reliable and more cost-effective renewable energy hydrogen production system. Importantly, the oxygen, considered a bi-product of the hydrogen production system, is pure enough to be captured for use in industry or injected into existing waste-water systems to improve the aerobic process.” Boyle says government and industry investment in the hydrogen economy is critical to achieving global decarbonisation goals. “This technology is ready to help transport networks and industries globally transition to hydrogen to help achieve zero-carbon targets. “In New Zealand, an immediate opportunity is to turn the hydrogen refuelling network […]

New interior separation for E4Q energy chain reduces assembly time

Universal separators and shelves with locking tabs ensure flexible and user-friendly e-chain assembly For safe cable guidance in unsupported and long travels, igus has developed the E4Q energy chain which is available from Treotham. The bionically inspired design of the series saves weight, while a crossbar with locking tabs reduces the assembly time of the energy supply system by 40 per cent. To further facilitate cable filling, igus is now launching a new interior separation for the E4Q. Universal separators can simply be placed on the crossbars, shelves can be inserted from the left or right, either along the inner or outer radius. A mechanism in the separators automatically locks the chain when closing. Simple and assembly-friendly, these were the goals that the igus developers set themselves with the E4Q energy chain. The result is an energy supply system for unsupported and long travels that saves material and 10 per cent weight through a naturalistic design. At the same time, it is more robust than its predecessor series E4.1. The special feature of the energy chain: it can be opened and closed completely without tools with the help of a special crossbar concept, saving the user 40 per cent assembly time. A concept that convinced users as well as the jury of the German Design Award 2021. In order to be able to fill the E4Q with cables even faster, igus GmbH has now developed a new flexible interior separation in co-operation with its customers. The system consists of universal separators and lockable shelves. The cable-protecting separators have a grid for inserting the shelves. To assemble the interior separation, first place the separators on the crossbars. The shelves can then be pushed into the desired level from both sides. Double locked with slider and crossbar An integrated slider allows the […]

Defend the industry from the rooftop, says Resources Minister

Encouraging young Australians to pursue technical and trade careers in the resources and energy sector is critical to the nation’s ongoing prosperity, Minister for Resources, Water and Northern Australia Keith Pitt has told an industry podcast. Speaking on the AMMA Resource People Podcast, Minister Pitt explained why he spends “every day, hour and minute” promoting the sector’s diverse and rewarding careers. “I’m really passionate about getting more Australian kids into jobs particularly in the resources sector,” Minister Pitt told podcast host Tara Diamond. “The Commonwealth’s strategy is to make sure that more kids are in jobs and the Australian workforce is out there filling the opportunities we have right now. At the moment, the world’s their oyster; there is a lot of technical and skilled jobs that need to be filled.” Noting the transferable nature of science, technology, engineering and mathematics skills, Minister Pitt said a particular focus of the Commonwealth is on the secondary education system. He further drew links between low uptake in mining-related STEM studies and “well-funded”, “international activists”. “We need more kids coming out with STEM and we need more with that science, physics and engineering type background, because that’s where the work is,” Minister Pitt said. “So why aren’t kids putting their hands up? For some reason they’ve been told, indoctrinated or taught there is no future in the industry. That is complete nonsense. “We should be out promoting what it means to work in the resources sector and have a good job that pays well. I’m passionate about making sure we get the facts on the table, the right message, and as a result get more people working in the sector. Right now, there is a shortfall.” In the wide-ranging podcast, recorded just prior to the 2021 Federal Budget, Minister Pitt outlined the Government’s […]

Australia Post’s worst nightmare: Christine Holgate to head delivery rival Global Express

“This is the one thing we didn’t want to happen.” That line – from the satirical British current affairs television program BrassEye – could easily be reverberating through federal government offices this week. Yesterday the news dropped that Christine Holgate, the Australia Post chief executive pushed so roughly from her job by the Morrison government, has a new job with a rival delivery company. Holgate resigned last November, after Prime Mnister Scott Morrison told parliament she been told to stand aside over the “optics” of rewarding four senior managers with luxury watches, worth about $20,000 – and “if she doesn’t wish to do that, she can go”. Now Holgate has gone to a new role as chief executive of parcel-delivery competitor Global Express. Her appointment, just a week after the expiry of her non-compete clause with Australia Post, is a gift for the new owners of Global Express, a former division of well-known Australian transport company Toll Holdings that has been struggling to find profitability. If anyone can help turn around Global Express’s fortunes in Australia’s parcel-delivery market, Holgate can. Doing so will cost Australia Post, and Australian taxpayers. A direct competitor Until last month Global Express was one of three divisions of Toll Group, the Australian transport company that began in Newcastle in 1888. Its business has involved express parcel, freight delivery and domestic forwarding services in Australia, and transport and contract logistics services in New Zealand. Toll Group was taken over in 2015 by Japan Post Holdings, the publicly traded company that runs Japan’s postal service. The acquisition was part of Japan Post’s strategy to diversify into global parcel deliveries. It proved less successful than the owner hoped, however, and in April the sale of Global Express to Australian private equity company Allegro Funds was announced. Private equity firms have a reputation for quickly […]

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