BPH - everything you need to know and why it could re-rate 5 times in 2021, page-485

The International Energy Agency (IEA) wants the world to get rid of gas to reach net zero by 2050. Biden will probably pay lip service to this but the reality is that gas is going gangbusters in the USA. China will say one thing and do another. Poor countries will go with what's cheap and available - and who can blame them.

Gas is also critical for Australia's domestic market, and for foreign royalties too. Morrison will talk up 2050 as a target but he won't nobble gas.

So as many others have said, once the Hunter by-election is out of the way and Parliament is sitting, this government will approve PEP 11.

Even if you don't buy into the "Australia needs more gas reserves argument", the ABC ran a report today saying that there were sections in the Coalition that were pro-gas (and coal and petrol) and they had to be placated.

Wouldn't it be incredible if rather than green politics hurting PEP 11, it is actually conservative politics that forces the government to approve it!