New Zealand (NZ) made international headlines last week by announcing a ban on future offshore oil and gas development. In typical fashion, activists praised the sudden policy shift as a “massive win” for NZ and encouraged Australia to follow suit and institute its own offshore ban. But before our policymakers even consider jumping on this bandwagon there are a few unintended consequences they may want to consider.
If you’ve seen the protests or follow any environmental activists on social media you would think that Australia’s natural gas industry is on the ropes, as groups like Lock the Gate (LTG) boldly declare that “times up” for fossil fuels. As per usual, their take on our energy industry doesn’t square with reality.