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ETS failure poses new opportunities to get it right: APPEA

The failure of the proposed Emissions Trading Scheme (ETS) to pass through Senate last week created important opportunities for major political parties to produce a more effective and efficient emissions trading model, according to a peak gas industry body.

The Australian Petroleum Production & Exploration Association (APPEA) announced this week that the failure of the ETS offers both major political parties and independent Senators the opportunity to work together to produce a more environmentally effective and economically efficient emissions trading scheme.

“A price on carbon will see natural gas, a cleaner burning fuel, become more competitive as a source of Australia’s electricity generation,” said APPEA chief executive, Belinda Robinson.

“To better recognise the cleaner burning properties of export natural gas (LNG), the scheme needs to be amended to ensure LNG is treated at least as favourably as most other trade-exposed industries.

“This scheme is intended to reduce global emissions, but the current design penalises the export gas industry, despite the fact that a global transition to gas is the key to realising the scheme’s central objective.

“By working together the major political parties and independent Senators can amend this legislation and produce a scheme that delivers significant 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 achieving the solution.”

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