The Australian Petroleum Production & Exploration Association (APPEA) has encouraged the Coalition to “grasp with both hands” the opportunity to work with the Government to amend and pass the emissions trading scheme (ETS).
APPEA represents Australia’s natural gas industry, including the coal seam gas sector, exporters of Liquefied Natural Gas and the producers of natural gas for the Australian market.
“The opportunity to influence such fundamentally significant legislation should not be squandered particularly given the level of effort and thought that the Coalition has put into possible design improvements,” said APPEA chief executive Belinda Robinson.
According to APPEA, there is a “narrow window of opportunity” for the Coalition to influence a more environmentally-effective and economically-efficient emissions trading scheme.
APPEA supports the ETS. The group says that with the help of amendments that lock in the full potential of Australia’s natural gas endowment the ETS will assist Australia and the world move to a substantially lower greenhouse emitting future.
According to APPEA, natural gas produces between 50 and 70 per cent fewer greenhouse gas emissions than coal when it is used to produce electricity.
“In working with the Government, the Coalition has the opportunity to secure an emissions trading scheme that delivers substantial environmental outcomes, protects the international competitiveness of Australian industry and avoids the unintended consequence of increasing global emissions by constraining the growth of the very industry that has the most to contribute to the solution,” said Robinson.