A new report into the future of the oil and gas industry – Platform for Prosperity – was yesterday released at the annual Australian Petroleum Production and Exploration Association (APPEA) conference in Adelaide.
The report outlined the challenges faced by Australia’s energy sector in achieving the appropriate investment in the nation’s energy future. It also outlined ways to strengthen the industry in the face of critical challenges including climate change, declining oil production, rising costs and skills shortages.
APIA chief executive Cheryl Cartwright yesterday said the report provided strong evidence of the benefits of increased use of natural gas.
“The report also highlights the benefits to the economy of increasing investment in Australia’s natural gas resources,” she said.
“It will reinvigorate the debate about how the nation approaches the reduction of greenhouse gas emissions, demonstrating that ‘electricity generated from gas has, on average, about half the greenhouse gas emissions of electricity generated from coal’.
“Therefore, rather than providing preferential treatment to competing energy sources, such as preferential tax treatment in the case of coal and subsidies for renewable energy sources, governments should be encouraging greater use of gas.”
Cartwright described natural gas as a “major part” of Australia’s energy future due to its efficiency and because it is a more greenhouse-friendly alternative to coal-fired energy generation.