Yesterday I attended the latest in the Melbourne Economic Forum series, on energy, and there was one paper that stole the show. Professor Philip Adams of Victoria University unleashed the Centre of Policy Studies model of the Australian economy on the question of whether the LNG boom will increase welfare in the long run and the results were stunning. Here it is:
1. Introduction
What follows is an assessment of the economic impacts of two key developments in the gas market on the East Coast of Australia:1. the construction and operation of three large LNG projects in QLD utilising gas generated, in part, from unconventional coal seam gas reserves in QLD; and