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Media Release 13 December 2011, Canberra
ENERGY WHITE PAPER COMMENCES IMPORTANT NATIONAL DISCUSSION
The release of the Energy White Paper demonstrates a welcome focus on critical long-term energy policy. It confirms that the Australian Government is committed to market efficiency, the creation of a stable regulatory environment and the appropriate development of Australia’s vast energy resources.
Dr Nikki Williams, Chief Executive of the Australian Coal Association, said that while governments around the world are being forced to mobilise all their resources to address severe economic challenges, Australia is in the fortunate position of being able to maintain a strategic focus on major policy objectives such as energy.
“Responsible development of our energy resources is providing enormous benefits in terms of wealth creation for Australia, and will do so for generations to come. Our energy exports have almost trebled in the seven years since the last Energy White Paper alone.”
The International Energy Agency (IEA) projects that Australia could enjoy coal and natural gas export revenues of more than $2 trillion through to 2035.
“Realising this unprecedented economic dividend will depend on policy settings which encourage investment in the development of our coal and gas resources. The Energy White Paper must reflect Australia’s role as a global energy supplier and provide a solid foundation for this investment,” said Dr Williams.
Dr Williams welcomed the Government’s announcement that it will no longer proceed with the introduction of Carbon Capture and Storage (CCS) Ready requirements for new coal-fired power stations, but emphasised the importance of the technology.
“The IEA’s Chief Economist Dr Fatih Birol has this week underscored the importance of CCS, noting it would be ‘virtually impossible’ to limit global temperature increases to 2 degrees without it. The most effective pathway to accelerating development of this technology is not via mandatory regulations but through direct support for large-scale demonstration projects.
“We recognise the important role the CCS Flagships Program is playing in this regard and it is the driving motivation for the industry’s voluntary $1 billion COAL21 Fund.
“Australia’s energy policy needs to intersect with climate change objectives, maintain the competitiveness of our industries over the next 20 to 30 years and satisfy energy security imperatives at least cost. The Australian Coal Association looks forward to making a constructive contribution to the Energy White Paper process.”
For further information please contact:
Jai McDermott
General Manager, Media and Government Relations
P: 0400 435 646
E:
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