Resources Minister Keith Pitt (Image: AAP/Aaron Bunch)

The Coalition’s implosion over climate is continuing apace, with Resources Minister Keith Pitt now calling for a $250 billion loan facility for the mining sector in return for a commitment to net zero by 2050.

The demand, reported “exclusively” in the AFR, is comical -- not just because it could guarantee coal production until 2150, but because of its sheer size.

$250 billion is about 12.5% -- or one eighth -- of Australia’s GDP. It’s four times the amount of money Australia was willing to spend on dud submarines and three times the cost of the NBN.