No, thanks to the the new Labor government in Western Australia it has imposed a statewide moratorium on fracking for unconventional gas, raising fears that it could eventually follow the Andrews government in Victoria in banning the controversial practice.
Premier Mark McGowan — who came to power in March promising to create jobs — said that fracking would be halted until the completion of an independent inquiry chaired by Environmental Protection Authority chairman Tom Hatton.
The moratorium, which is expected to last for 12 months, will stop companies including ASX-listed companies Buru Energy and AWE, as well as Japanese giant Mitsubishi, from exploring for onshore gas in WA, which contains some of the nation’s biggest untapped deposits.
The oil and gas industry described the inquiry — the second into fracking in less than two years — as a waste of taxpayers’ money. Source: WA Newspapers article.
NWE Price at posting:
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