In 2022 the world experienced a global energy crisis caused by Russia’s illegal invasion of Ukraine, and the gas industry has seen this as a massive opportunity for expansion. Governments scrambling to replace Russian gas haveWithin Australia, the gas industry has run rampant with excessive windfall profits while calling for massive expansion development and increased LNG exports.
against Clive Palmer’s Waratah coalmine, part of the Galilee basin. The court found that the 1.58 gigatonnes of carbon emissions that will come from its development globally pose unacceptable risks. If this happens, there’s a serious risk the whole scheme will be viewed simply as a licensing system for increased fossil fuel production rather than one that actually results in real emission reductions. Some have labelled this as “Australia has a terrible, 30-year history of claiming to meet its targets through dodgy accounting and, more recently, through offsets, but this cannot continue.
Right in the last week before the Australian silly season fully kicked off the Albanese government took legislative action to curtail the power of the gas and coal industry putting in place price caps and a reasonable price test, which led to outcries of “Armageddon” and Soviet-style command and control from the gas industry, and declarations of the “end of gas” from the Greens in the federal parliament.
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