When the Herald Sun declared “Jobs bonanza in new coal rush”, I rejoiced in seeing the word “bonanza” back in the headlines. My thoughts have obviously tapped into the public mood and as bonanzas are back! The bonanza in question now is the Dual Gas power plant, which just lost $100m in federal funding. The Herald Sun claimed:
Hopes for a jobs bonanza in the Latrobe Valley have fizzled out after the Federal Government pulled the pin on $100 million funding for a new power station.
After years of not thinking about bonanzas, we seem to have a bonanza bonanza! Or do we? Both projects are still uncommitted and their claims to bonanza-hood seem a little dubious.
Assessing the first bonanza, I pointed out that a if a Victorian coal export project ever was viable, it would likely redirect employees from other projects and industries rather than “delivering jobs” per se. The Dual Gas[1] project seems to have an even shakier claim to bonanzanity. Even if you accept the proponent’s figures of 250 construction jobs and 40 ongoing positions, does this constitute a bonanza? Is it still a jobs bonanza if the project needs $150m in state and federal subsidy? Can it be a jobs bonanza when it is legally required to wait until similar capacity brown coal power station closes to be able to begin?
We’re certainly in the middle of a bonanza, but is it a faux bonanza of bona fide bonanzas or a bona fide bonanza of faux bonanzas?[2]
[1] Notice that Dual Gas is capitalised. That’s because it’s the name of the HRL subsidiary and not because it runs on two types of gas. I rang them to ask how much natural gas and how much gasified coal they run on, but got no clear answer. I take it some natural gas is used in ignition, but to my mind that makes all cars hybrids as they start with electricity.
[2] I don’t really need a footnote here, I’ve just been reading David Foster Wallace.
