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Ann: Outstanding Success in 33rd Licensing Round - Ten Blocks Won, page-39

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camban

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13/05/24

09:23

Post #: 73790566
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Originally posted by Mitchdon: ↑

After two years of demonising gas as a source of power in Australia the Australian Labour party has done an about face and released their future gas strategy. The minister for resources Madeline King says, "it is clear we will need continued exploration, investment and development in the sector to support the path to net zero for Australia and for our export partners, and to avoid a shortfall in gas supplies.”

This article gives a good overview for anyone interested.

https://www.energymagazine.com.au/future-gas-strategy-unveiled/#:~:text=The%20strategy%20identifies%20the%20following,discoveries%20in%20gas%2Dproducing%20regionsThere is a ton of press and videos around the strategy but IMO nothing beats the cartoon from Saturdays Australian newspaper.

For our overseas friends, the ""conductor" is our Prime Minister and the and the orchestra is the cabinet. (g'day @Byron and @Garfus )

The Resources Minister goes onto say that "the findings are clear and based on facts and data, not ideology and wishful thinking." This is effectively the same argument opponents of the (proposed) UK Labour Gas policy are making.

UK Labour have costed and published the reduction in O&G development capex as a result of their proposed policies. (being 0% reduction in 24/25/26 and 12.5% reduction in 27/28) The already announced cancellations of capex spend show this costing to be based on ideology and wishful thinking.

It is an argument that can be won and has been won in Australia at least. Hopefully it is an argument that can also be won in the UK.

Expand

Great cartoon, the ideological sentiment is as cyclical as the market sentiment. O&G is far from dead. Cold comfort, I know, but politics has just made this a much longer hold than many will have first anticipated.

HHR Price at posting: 0.7¢ Sentiment: Hold Disclosure: Held
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Ann: Outstanding Success in 33rd Licensing Round - Ten Blocks Won, page-39

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Ann: Outstanding Success in 33rd Licensing Round - Ten Blocks Won, page-39

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