Once again news from China will have an impact on Australia and once again the news is encouraging. Although China has abundant coal reserves and coal-fired power stations, the Government has decided to expand its nuclear energy program, from 24 new plants to 29. With 11 nuclear power plants already operating, this will take the total to 40 and the number is expected to reach 100 over the next 20 years. This is an enormous undertaking. It is also an enormous opportunity for Australia.

China is increasing nuclear power capacity because it is choking on its own coal-driven fumes. It is also under increasing international pressure to curb its toxic greenhouse emissions. Now China wants to tap much more of Australia's uranium reserves. Australia's uranium exports are currently worth $900 million a year. Australia has by far the world's largest reserves, but Canada is the leading exporter, and Kazakhstan is also exporting aggressively. India wants our uranium but has been rebuffed by the Rudd Government even though it will meet the same safeguard standards imposed on China. Japan is considering a significant increase in nuclear power plants. Germany, Italy and Britain have all re-embraced nuclear power. The export potential for Australia is self-evident. A $900 million export industry could become a $9 billion export industry.

Consider these figures from the US Department of Energy: the amount of carbon emissions produced by a modern coal-fired plant is 0.855 tonnes per megawatt hour of electricity. For natural gas-fired plants it is 0.361 tonnes. For nuclear-powered plants, 0.005 tonnes. The difference is stark. Even on cost, coal is losing its advantage. If the true cost of coal is to be taxed by a global carbon emissions trading scheme, coal will become not just the dirtiest option but the more expensive one.

Opposition to nuclear power and uranium exports is largely driven by moral concerns. Nuclear proliferation, and the long-term storage of nuclear waste, are the big issues for opponents of uranium exports. These issues are important and need to be addressed, but they pale in comparison with the advantages of clean power. The Rudd Government should thus over-ride the ban on uranium mining in Queensland, allow exports to India, and support Chinese investment in expanding our uranium mining capacity.

Almost exactly 23 years ago, on April 26, 1986, the Chernobyl nuclear reactor disaster took place. Since then, the nuclear energy industry has been transformed. So has the greenhouse emissions debate.