A Greens plan to halt investment in Australian gas supplies would “devastate the economy”, according to a report commissioned by the country’s peak oil and gas industry body.
The report by consultancy EnergyQuest on behalf of Australian energy producers says “blackouts are looming for millions of homes and businesses in south-eastern Australia within just two years” if the Greens’ policy is implemented.
The Greens want an immediate ban on the construction of new coal, oil and gas infrastructure, which the party says will transition the economy to zero-carbon energy while maintaining a safe climate.
But the Greens’ gas platform would lead to the closure of manufacturers and the cancellation of long-term export contracts from Queensland, the report said.
“Disruption of investment in gas supply would devastate the economy. Gas for electricity on the East Coast could be disrupted within two years and would run out by 2029,” he said.
Australian Energy Producers chief executive Samantha McCulloch said investment in new gas supply was urgently needed to meet domestic demand.
“The Future Gas Strategy is clear that the Australian economy will need gas through to 2050 and beyond,” McCulloch said in a statement.
The Greens want an immediate ban on the construction of new coal, oil and gas infrastructure, which the party says will transition the economy to zero-carbon energy. Pictured: Greens leader Adam Bandt and his partner Claudia Perkins
The industry-backed report comes after the federal government said this month that coal and gas emissions could grow by 1.7 billion tons by 2050 if their use were extended another 15 years.
Under the government’s gas strategy, fossil fuels will remain part of the energy mix beyond 2050, when Australia must meet a legislative target of net-zero greenhouse gas emissions.
The Greens say that by investing in wind, solar and energy storage, and by rewiring Australia’s electricity grid, the economy can