Australia well-positioned to be major player in clean energy industries: opposition leader

CANBERRA -- The leader of Australia's opposition Labor Party said the nation can be a "renewable energy superpower," in a major speech on regional development on Wednesday.

Labor Party leader Anthony Albanese said while the resources sector has been key to Australia's economic development, the nation's "long-term future lies in renewable energy."

He said the task for Australian governments in the coming decades was to "position our nation to be a major player in the clean energy industries that continue to grow in importance over time."

According to Albanese, who has led the Labor Party since May 2019, Australia can be transformed "into a renewable energy superpower" but only the Labor Party has the energy policy "that recognizes the value of the current resources market while seeking out the massive opportunities in renewables."

"The right plans will create hundreds of thousands of jobs in new industries, including in regional Australia whilst also reducing power prices," he said.

Albanese cited a report published by New South Wales' chief scientist earlier in September which found that a domestic hydrogen industry would be worth 26 billion Australian dollars (18.7 billion U.S. dollars) to the economy every year and create 17,000 jobs.

The Labor Party has committed to a net zero emissions target by 2050.