Thank goodness a solution to eastern Australia's emerging energy supply problems is at hand. Courtesy of the Australian Financial Review today, we got the perspective of BlueScope Steel on matters electrical, and the need for "a steady and affordable supply of power for big industrial users". Presumably speaking ex cathedra, BlueScope CEO Paul O'Malley handed down a "three-step plan" which, reduced to basics, involves keeping coal-fired power and getting rid of state renewable energy targets. Power costs in the US, O'Malley lamented, were five to 10 times lower than here and businesses were set to flee in droves.

Which is a bit odd given that less than a year ago the Australian Energy Council found that power prices for industrial users were, um, lower in Australia than in the US. Must've been a big drop in the US in recent months, eh?