Australia’s enviable prosperity is the product of reliable and affordable energy. The path out of poverty starts and ends with cheap and readily available electricity.

A bit over a generation ago China determined to leave behind its agrarian misery and to modernise, with a view to becoming an industrial superpower. It’s achieved that status, thanks to an enormous investment in reliable coal-fired power plants.

In that respect, China is not alone. Over the last 20 years, the most rapid increase in coal-fired power plant capacity occurred in Indonesia; India’s hopes of dragging its people out of grinding poverty depends on a program of the same magnitude. And Japan – which still dominates in high-end manufacturing (the world’s most popular motor vehicle brand remains Toyota), as well as high-tech kit – is building a fleet of High Efficiency Low Emissions coal-fired power plant to ensure it remains in that position.