AsianOil: Australian government backs oil, gas sector

Australian Prime Minister Scott Morrison has pledged that the oil and gas sector will “always” be a pillar of the economy, even as domestic investment in clean energy alternatives grows.
Morrison, during a video address to Australian Petroleum Production and Exploration Association’s (APPEA) annual conference in Perth on June 15, said: “The oil and gas sector is a major contributor to Australia’s prosperity – always has, will always be.”
He said the Coalition government would continue to support both the upstream as well as exporters of liquefied natural gas (LNG) as country transitions to a “new energy economy”.
He added: “I want you to know we are backing you in to stay on top as one of the world’s leading exporters of LNG, and with a plan here in Australia that sees gas as key, the key to securing reliable, affordable energy in a transitioning energy market, moving to a new energy economy.”
Morrison’s government has been promoting a “gas-led recovery” from the coronavirus (COVID-19) pandemic. Under the scenario laid out by Canberra in September 2020, Australia will see both greater production and consumption of gas. Domestic manufacturing should grow exponentially on the back of lower gas prices.
The fact that this plan has failed to win support from gas producers, the environmental lobby and the Australian Energy Market Operator (AEMO) has done nothing to dampen the government’s enthusiasm.
“I know there is a new energy economy coming and we need to be ready for it, we need to be part of it, and we will be successful in it,” Morrison said. “We need to make sure that Australia succeeds. But that will not come at the cost of our heavy industry and manufacturing industries, it will not come through higher taxes, it will come through technology, and innovation and the entrepreneurship of our industry leaders, through supporting Australia’s resources sector to explore the future – that’s how we make our way.”