Lawllll,
An article in today's West Australian is headed "Red tape risks holding up frackers until 2021".
It states that regulatory approvals may be held up until 2021, because it will take that long to write the new rules. A group led by the heads of the environmental regulation and mines departments is expected to produce an implementation plan by March 2019.
In the mean time they will rigorously apply the intent of the fracking report's recommendations. I'm not sure how this new approvals process will affect existing Frackers, however it does not look good.
The approvals process were likely to become a lengthy exercise. One industry insider said that "it's almost banning fracking by stealth", as smaller companies may not be able to afford the delays and costs.
And the kicker is..... the industry insider said he expected a long delay to set up the approval process as the EPS had no petroleum experience or relevant regulations in place.
There is no mention of NWE or Arrowsmith in the article, however other O&G companies look like missing out altogether, including Andrew Forrest's Squadron Energy. Luckily we are not relying on sales from Arrowsmith to survive, because I've got an awful feeling that nothing is going to be fracked in WA for many years, even the co's covered by the recent lifting of the fracking moratorium.
IMOO, DYOR
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