Lenko has just walked the chain link by link: fuel costs rise, inflation rises, the central bank raises rates, mortgages get more expensive, people stop spending. He is drawing on survey work showing that Australian support for individual clean-energy measures rose even as general support for climate action fell, because people answered on energy security and cost rather than on climate.
…else to come through, but they need a different reason. And, you know, for, you know, I don't want to say luckily, but you know, like the war in Iran and things like that have really done more to accelerate progress, at least on the consumer side, than any kind of incentive, you know, any policy.
…shock of Russia and Ukraine, and that's a blip and it makes people think. But when the second one comes along and then the third one comes along, and then it's all of these, I mean, they are horrible events, but they really highlight the fact that stuff comes from somewhere. And we've just also,
…of fossil fuels. So, like, you know, the cost of fuel goes up, then that drives the inflation number up. The government says we want to deal with inflation. So we're going to raise interest rates and make people's mortgages more expensive. Then people have to pay more for their mortgage. So they're not feeling, you know, they're not feeling as wealthy and that they stop spending on other stuff. It's just so weird that a blockage in fuel flow in the Middle East means that you have to pay more for your mortgage. Like, you know, like that's a, it's such a strange connection. But now people are starting to make it. You're like, oh, well, if we, you know, the solar panels that I have on my roof that almost every house in Australia has, I can plug my car in here, power it myself. You know, that there's never going to be any conflict in the world that interrupts the solar panels on my roof or the battery in…
national legislation.
Yes, for states that are locked in. So, you know, most states now have that. There's a few, a couple of smaller exceptions. But yeah, so I have free electricity here between 11 a.m. and 2 p.m. So if you have a battery,
you can just charge. So basically, you just, everybody just charges up their battery because everyone's going to get it. So that's that combines with the battery