“The Vision Splendid"

This paper takes its lead from the Federal Government publication ‘Future Made in Australia’ (2024), and critiques Government plans to make Australia ‘an indispensable part of global supply chains’. In view of the Government objective of making Australia a ‘Renewable Energy Superpower’ from a manufacturing base of clean energy technologies, renewable hydrogen, green metals, and low-carbon liquid fuels, the paper reviews some of the comparative advantages Australia possesses that might make this vision a reality. It also highlights from a historical perspective, some of the disadvantages that might inhibit fulfillment of the Government plans. Following a narrative literature review methodology, the paper finds that any revival of manufacturing in Australia to engage global supply chains would face a steep challenge due to Australia’s high wage structure. On a brighter note, possibilities in clean energy domestic manufacturing appear promising. Government plans to achieve 82% renewable energy in electricity grids by 2030 look to be achievable if the present Government retains office, and appropriate public support is forthcoming. Green hydrogen/ammonia power generation looks almost certain to replace aging coal plants, again provided support is appropriate in the critical development stages. On present analysis, this paper finds that Government support and financial assistance to industry towards eventual Renewable Energy Superpower status appears to be substantially less than required for a home-grown industry to develop. International investment partnerships would appear to be the only avenue forward if Australia is to realise its comparative advantage of wide open spaces and abundant wind and sun.