Mr Wood said although Origin has agreed to buy Beetaloo gas if fracking goes ahead, the decision to divest from the basin was significant in the context of Australia's energy outlook.
"But they're wanting to have flexibility, so if the world moves faster against gas, then they can progressively withdraw from that by not having such a strong position in the upstream development side." "Origin's move to walk away from the Beetaloo Basin, and its other petroleum exploration areas, shows that the company recognises the crumbling case for new gas exploration in Australia," he said.
The more important headline should be that American company has excitedly scrounged up the money to buy it, supported by large a Australian government grant to help them FCK the NT
Quitting fracking ✅ 👌⭐️💯
APPEA CEO S McCulloch, said the basin represented a 'huge economic and energy security opportunity for the NT and Australia'. Total bullshit When they connected Eastern board gas to Gladstone we lost control We became a hostage of LNG export Narrabri is going to be exported
Here's a better indicator.
No, Origin thinks it can make fast risk free bucks from the taxpayer funded unreliables thanks to AlboMP and the greens.
Rubbish. They have sold the mining lease, but are still involved and will purchase gas once developed by new owner.
'says Tony Wood, energy program director at the Grattan Institute (a notororious Green Left think tank).'
EU is about to learn what happens when you do not have enough gas. If we do not make enough gas this will happen to the whole world. Then, like the EU, everyone will see the folly of their ways and start making gas again. But only after much suffering.
Oh yes. The future is bright….
It may also be an indication of the 'woke' pressure, from those who would rather have the world go dark, than accept the road forward.
'Origin has agreed to buy Beetaloo gas if fracking goes ahead ... ' So they're selling it to somebody else and will still buy buy the same gas from somebody else. Pure Leftard virtue signalling.
All the stop new fossil dudes chalk it up as a win. The reality is the fall in gas use that is expected makes it unviable. The premium prices from Bidens proxy war will be gone in a year or 2 as new green projects take over. Fossil generation WILL go from prime to peak supply
You do realise they sold it to someone else who will still extract it. And origin will participate in the upside.
Huge result. Gas is cleaner than coal so there is a role for gas but only as a transition to renewables. Need to get the ball rolling
Why would anyone invest in gas extraction when they are labelled ‘polluter’ & ‘environmental vandal’ by activist media?
An analyst from the Gratten Institute. Any other alternate points of view? Nup. Just the one that fits the failing narrative. The ABC is a pathetic joke.