APPEA’s submission to the fracking inquiry is available at this link.
Gas jobs and revenue can help with NT Budget repair
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The Northern Territory Budget – delivered on Tuesday 2 May – confirms the need for new private sector investment to arrest a forecast decline in taxation and royalty revenues.
The NT Government has unveiled a tripling of its budget deficit.
Lifting the current moratorium on hydraulic fracturing would generate a much-needed new source of income for the Government while also providing jobs and regional development.
APPEA NT Director Matthew Doman said safe and sustainable development of the Territory’s onshore natural gas resources could generate hundreds of millions of dollars in royalties, create thousands of jobs, and deliver long-term Budget repair.
“The NT Budget confirms the need for new revenue sources to fund vital public services as well as new investment to grow the economy. Natural gas can deliver both,” Mr Doman said.
Mr Doman said a study by Deloitte Access Economics had found developing natural gas could increase NT Government revenues by almost $1 billion by 2040 and create up to 6300 new jobs.
“The benefits of natural gas investment will build slowly but they will be long-term. That’s why it is critical the delivery of those benefits is not delayed,” he said.
“Australia is desperate for new sources of natural gas. The Territory has abundant onshore gas that can be safely and sustainably developed. This is a win-win for the NT and the rest of the country.”
Mr Doman said the gas industry hoped the current inquiry into hydraulic fracturing in the NT would show the industry could be developed safely.
“Every other inquiry into fracking has shown the process is safe when properly regulated. There’s no reason the NT inquiry should reach any other conclusion,” he said.
The following letter will be sent to people who seek to represent you in Federal Parliament.
Dear [title] [surname],
Australia is blessed with abundant, affordable, reliable, and safely accessible natural gas reserves.
I want you, as my federal parliamentary representative, to support the Australian natural gas industry’s development so that it may put downward pressure on energy prices and bring on the next wave of Australia's prosperity.
The oil and gas industry is currently spending close to $200 billion on new projects that have so far generated 100,000 jobs across the Australian economy; which will see the industry’s tax contribution rise to almost $13 billion per annum by 2020; and which will underpin the Australian economy for decades to come. We need to also support the next wave of projects that are today under consideration.
I am sending you this because I want to see action on creating more Australian industry and jobs.
We can't take our prosperity for granted.
Sincerely,
Name
Suburb, postcode
Dear [title] [surname],
Australia is blessed with abundant, affordable, reliable, and safely accessible natural gas reserves.
I want you, as my federal parliamentary representative, to support the Australian natural gas industry’s development so that it may put downward pressure on energy prices and bring on the next wave of Australia's prosperity.
The oil and gas industry is currently spending close to $200 billion on new projects that have so far generated 100,000 jobs across the Australian economy; which will see the industry’s tax contribution rise to almost $13 billion per annum by 2020; and which will underpin the Australian economy for decades to come. We need to also support the next wave of projects that are today under consideration.
I am sending you this because I want to see action on creating more Australian industry and jobs.
We can't take our prosperity for granted.
Sincerely,
Name
Suburb, postcode