From The Australian:
Australia could resolve its energy crisis “very quickly” if it followed the lead of the US in unlocking its gas resources, the head of oil and gas giant Chevron’s Australian business says.
Speaking at a Committee for Economic Development of Australia breakfast in Perth this morning, Chevron Australia boss Nigel Hearne said the development of unconventional gas fields in the US had made businesses more competitive and had generated millions of jobs and billions in government receipts.
…“Pressure being placed on governments for policy interventions on issues such as the PRRT, bans on oil and gas drilling and mandated local content quotas send the wrong signal to investors,” he said.
The US has both domestic reservation and oil and gas taxes. It also forces fraccers to pay locals a big royalty cut. If you want to know how to fix the energy crisis then don’t ask the people that created it.
The fix is very simple and quick. Ban third party exports. We need only to reserve 3.6% of projected 2018 exports to fix the shortage. Then you fix the PRRT.
Voila!
