Australia has made international commitments to reduce its greenhouse gas emissions.
At the same time it has a growing LNG export sector. A sector which, as last week’s WA experience shows, is not keen to offset or abate its emissions and will use its political and financial clout to fight regulation to do so.
The above two statements are incompatible.
The LNG sector has become an extremely important part of the economy, particular for our balance of trade. It employs many people. It’s vital in key regions, especially around Karratha and Gladstone.
So what’s it going to be? I’m of the view that we have the technology and capability to abate domestic emissions while growing the LNG sector. We can have our cake and eat it. But it certainly won’t happen for free. And if the sector won’t pay for it, who will?