Never let a good crisis go to waste

This all feels a bit…Covidy.

We’re suddenly experts in things we previously had no idea about (the Strait of Hormuz and Kharg Island), we’re being told to stay at home, and people are panic buying things.

There are obvious differences - there is no immediate risk to human life (outside the Middle East, at least) and an end to the crisis is far more within the control of those in power.

There’s no point guessing what’s going to happen, because literally no one, including those responsible for this mess, knows. 

But given we’re now deep into a crisis, it’s worth considering what lessons we could learn. 

First, we are clearly too reliant on fossil fuels. The energy transition conversation has dragged on with the pace of change far too slow. Perhaps spending hundreds of dollars to drive to the shops or microwave some soup will create the public pressure needed for urgent action.

The same applies to electric vehicles. Demand has already spiked, with focus now turning to whether governments can respond by investing in much needed infrastructure. 

Meanwhile, inflationary pressure and the subsequent interest rate rise has put more than 1.4 million Australians at risk of mortgage stress. Perhaps some measures to take the heat out of the housing market so that mortgages don’t need to be the GDP of a small nation wouldn’t go amiss?

Given the first director-general of the new Australian Centre for Disease Control (which was set up as a response to Covid) only started last week, Australia’s approach to learning and changing from a crisis isn’t exactly rapid. 

But in the midst of this mess, it’s important to remember a simple rule - never let a good crisis go to waste.