August 4, 2013
The 2013 election comes at a critical time for the oil and gas industry, and for the Australian economy more broadly.
The oil and gas industry is currently spending more than $1000 per second on projects that generated more than 100,000 jobs last year, and which will underpin the Australian economy for decades to come.
Yet the industry has the potential to deliver even more to Australia.
A further $180 billion worth of projects are today under consideration. But they are being assessed at a time when the cost of doing business in Australia is rising, and competition from gas producers in other parts of the world is increasing.
Our next Parliament – irrespective of which party forms government – must address Australia’s competitiveness challenges before we lose the next wave of projects to North America or East Africa. This is why APPEA will continue to advocate for policies that ensure the oil and gas industry can invest in the next wave of jobs and investment.
Last week, APPEA launched a national campaign to inform Australians of what is potentially at stake if the investments do not take place. Natural gas is not only a critical part of Australian life, but also an extraordinary driver of our nation’s future prosperity. Politicians of all persuasions need to understand that saying no to natural gas development is not without consequence.
Developing new gas supplies is absolutely critical if Australia wants to put downward pressure on energy prices, meaningfully reduce greenhouse gas emissions, and bring on the next wave of Australia’s prosperity.
The oil and gas industry can help Australia manage our current economic, budgetary, and environmental challenges, however the industry will require stable tax settings, market-based energy policies, a reduction in duplicative and inefficient red tape, and science-based regulation, in order to do this.