Galt Global Review

QFS 360

September 8, 2005
business digest


Australian Roundup

By Faye Mallett

headlines:
A Power Union
Economy's Growth a Suprise
Water Study Needed


A Power Union
Hydrogen may be used as a power source for remote islands off Tasmania and Japan, due to a groundbreaking partnership between University of Tasmania and Japanese researchers.

The university of Tasmania is known for its expertise with hydrogen and internal combustion engines, and is currently set to test a hydrogen-assisted wind power system on Cape Barren Island, off the coast of Tasmania.

In this test, excess power generated on windy days will be used to break water down into oxygen and hydrogen, with the hydrogen then stored and used to fuel a generator on calm days.

Japan, which is embarking upon a similar test, is interested in the project because it depends primarily on imports for its energy supply. A delegate from Osaka University said that he hopes Japanese and Tasmanian researchers will be able to work together to help create a "hydrogen society" of the future.

Economy's Growth a Surpise
In the past three months, Australia’s Gross Domestic Product has risen 1.3 per cent, adding $2.7 billion to the national accounts.

The growth came as the Reserve Bank left interest rates on hold for the sixth consecutive month, and the results are above most economists' expectations, which ranged from 0.7 to 1 per cent.

The number though is still well below the trend average of 3.75 per cent and lower than the past few years' rate of 4 per cent.

Prime Minister John Howard said the rise provided a strong platform for the economy to continue its rate of growth.

The result, he said, came through workforce participation rates and the country's business sector.

The Australian result reverses an emerging worldwide trend of slower economic growth.

Water Study Needed
Peter Cullen, a respected Australian water scientist, has told the national River Symposium in Brisbane that scientists need at least a decade to properly study how the country’s tropical northern rivers can effectively be used as a national resource.

Australia's northern tropical rivers held 70 per cent of the nation's available freshwater, and are under increasing pressure from southern developers and governments looking to exploit this resource.

"So much of Australia's water resources are in the north and we know the squeeze on the south is causing pressure to eye off those resources," said Professor Cullen, a member of the National Water Commission.

Professor Cullen said little was known about the links between northern rivers and groundwater systems. National Water Commission chairman Ken Matthews acknowledged that more research to identify future development opportunities is needed, however he warned that development cannot stand still while this happens.