He wouldn’t admit it, but Climate Change and Energy Minister, Chris Bowen – affectionately referred to as B1 by Speccie readers – is participating in the global retreat from net zero.

He now looks almost sensible compared with the batshit crazy energy minister in the UK, Ed Miliband. Ed recently declared that all UK oil and gas operations in the North Sea should cease. Instead, the UK will import even more oil and gas from Norway, sourced from the North Sea.

How this could possibly make sense is anyone’s guess, but for the true green believers, facts and logics have never prevented them from making completely perverse decisions.

In many ways, the conflict with Iran has created an important hiatus in the debate about phasing out fossil fuels, decarbonisation and electrification.  It turns out that there really is no alternative to liquid fuels derived from fossil fuels – think petrol, diesel, aviation fuel – at least in the medium term.

Having accepted this fact, B1 has approached the task of securing additional supplies of liquid fuel with great gusto. He puts out press releases when he finds an extra tanker or two of petrol or diesel and appears before the camera. He provides a constant update on the number of days of fuel we have at any point of time.

Maybe we should be sending a thank you note to the mad mullahs of Tehran for helping to bring our man to his senses.

He has even been photographed in front of our two last oil refineries wearing unflattering fluoro-vests and hard hats, something that was unimaginable until recently. B1 hasn’t ruled out the expansion of these refineries, although he doesn’t think there is a case for any new ones.

When he was asked a question about the Safeguard Mechanism, an effective carbon tax on high-emitting facilities like oil refineries, B1 told the inquisitive journalist that this topic was not top of mind for him. Telling.

Talking about accepting reality, B1 has come to embrace the gas industry as vital to his dream of an east coast electricity grid dependent on renewables and batteries. Without the backup of nimble gas-fired electricity plants, the moniker of Blackout Bowen could easily stick.

One can only presume that B1 did not support the case for an export levy on the gas industry that was being vigorously pushed by various left-wing nut jobs, including some of his parliamentary colleagues, prior to the budget. The real aim of these zealots is to kill any further investment in the Australian gas industry.

B1 is smart enough to know that imposing a new tax on exports of liquefied natural gas to Asian countries when we are relying on them to help us secure more supplies of liquid fuels would be completely insane.  Again, a note of thanks to those mullahs might be in order.

B1’s ambitions for his announced renewable energy and emissions reduction targets have always been dependent on cooperation from the states. He could always rely on the worst energy minister in the country – should that be the world? – Victoria’s Lily D’Ambrosio, but even she has softened her stance recently.

She has approved a new gas storage facility in the Otway region of her state, having conducted a full-on war against the gas industry for years. This comes on top of approval from the federal government for a new gas project in Bass Strait.

The New South Wales government has also approved exploration for gas in the west of the state, overturning a decade of hostility towards the industry. In a similar vein, Peter Malinauskas, the Premier of South Australia, has lifted the ban on fracking for gas which has applied to the south-east corner of the state. In the meantime, Queensland is doing its own thing under the premiership of David Crisafulli.

Don’t get me wrong here, B1 hasn’t entirely given up his idiotic climate dreams.  There was over $18 billion allocated in the recent budget over a decade for green spending, although the money for green hydrogen – a good example of fool’s gold – was reduced.

There is also considerable uncertainty as to what the Commonwealth is up for when it comes to the contingent arrangements with renewable energy companies, mainly overseas owned, to build and operate large-scale renewable energy installations under the Capacity Investment Scheme.

Known as contracts-for-difference, these arrangements effectively guarantee cash flows for the owners irrespective of the wholesale price of electricity. But we are not allowed to know the exact amounts that could fall due because of commercial-in-confidence considerations – yeah, right.

It does look as if B1 has decided it’s better to stay at home rather than drift around the world in his capacity as head of negotiations for the Cop 31 climate shindig in Turkey.  Let’s face it, it’s not a good time to be lecturing heads of government – OK, junior ministers – about the case for decarbonisation when fuel prices are skyrocketing and people are worried about security of supply.

Even the Europeans, who could normally be relied on to wave the green flag and implement lots of economically destructive policies, have begun to pull back. The German Chancellor Friedrich Merz has called the closure of his country’s nuclear plants a ‘serious strategic mistake’. (Well done, Angela.) This message has been echoed by Ursula von der Leyen, a fellow German and President of the European Commission.

In the Netherlands, another country run by deep-green politicians for many years, the closure of the massive Groningen gas field has been delayed several times. India is going full throttle on coal to underpin its economic growth even though it pays lip service to the commitment to reach net zero by 2070 – whatever. Over seven gigawatts of new coal capacity were added in that country in 2025-26.

China plays a complex game to achieve maximum competitive advantage selling its green paraphernalia to the world while boasting about its investment in renewable energy. But China continues to tick all the boxes, opening 50 coal-fired power stations last year compared with 25 in 2024.

With the increased price of oil and LNG recently, several Asian countries have reverted to coal to generate electricity, with Australian coal producers one of the winners.  The price of thermal coal has been tracking upwards for most of this year.

Weirdly, B1 seems to have had a bounce to his step recently as he plays the hero securing more fuel for Australia’s hard-working motorists. He almost seems to be enjoying it.

He is – or should be – worried about the fate of our east coast electricity grid as the bet on renewables/batteries is very high risk, particularly with the delays in synchronised condensers contributing to instability in frequency control. And of course, the less said about Snowy 2.0 the better.

Of course, there is no way that the Albanese government will formally pull away from net zero 2050, particularly since the Coalition has ditched it. But actions always speak louder than words. It’s a case of watch this space and observe what B1 gets up to.