All the complaining about red and green tape and government agendas or energy transition gripes are a distraction from the fact that many Australian O&G projects are simply not economic and do not meet the investment hurdles to get off the ground, especially not with current and projected oil prices that are kept artificially high by OPEC production cuts.
"Drill Baby Drill" is not going to happen, neither in the USA nor here if it is a loss-making proposition. Add to that the large cost and schedule blow-outs that most Australian O&G projects have suffered in the last 15 years, not due to red or green tape but from low productivity, high labour costs and very limited local support infrastructure/capability. This makes investors very hesitant.
CVN Price at posting:
10.5¢ Sentiment: None Disclosure: Not Held
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