Tuesday, April 30, 2019

Gas expansion policy is Labor's climate policy problem

The Labor Party wants to act on climate change, yet on April 23rd during the election campaign Opposition Leader Bill Shorten announced reform of the Northern Australia Infrastructure Fund. As part of this reform process $1.5 billion would be allocated to constructing a gas pipeline network enabling development of new gas fields in the Beetaloo Basin in the Northern Territory, and the Galilee Basin in Queensland, as well as the existing Bowen Basin gas fields.

This is new infrastructure that would enable export of gas, and the development of new gas fields. It is sharply at odds with reducing emissions and stopping development of new fossil fuel reserves.


Labor’s Northern Australia Development Fund will provide a financing facility and work with infrastructure Australia to identify and support projects of national economic significance – such as gas pipelines – in Australia’s north.

As part of these changes, up to $1.5 billion will be set aside to unlock gas supply in Queensland’s Galilee and Bowen basins and connecting the Beetaloo to Darwin and the east coast. This project would support Darwin as a manufacturing and gas export powerhouse as well as increasing supply to Queensland and the eastern seaboard to put downward pressure on prices for gas users. Opening up the Beetaloo alone could provide enough gas to supply the domestic market for up to 400 years.

The proposed infrastructure

Quid Pro quo?






References:

Bill shorten media Release, 23 April 2019, Northern Australia Development Fund to Unlock the Economic Potential of Our Great North https://www.billshorten.com.au/northern_australia_development_fund_to_unlock_the_economic_potential_of_our_great_north_tuesday_23_april_2019

No comments:

Post a Comment