Letter from Australia: Labor victory positive for CCS
Australia’s upstream industry could be poised to benefit from the election of a Labor government for the first time in almost a decade
The Australian federal election on 21 May removed the Liberal-National government that had held power since 2013, the past four years of which under Prime Minister Scott Morrison. As of 26 May, the Australian Electoral Commission had called Labor as the winner with 75 seats and votes still being counted. The party needs just 76 seats to form a majority government, and it appears almost certain to gain the numbers needed to govern without the support of crossbenchers. Climate change was a key issue for voters. The outgoing government only last year reluctantly committed to reaching net-zero emissions by 2050 and reiterated its 2030 target of 26-28pc below 2005 levels in the face of strong dom
Also in this section
23 January 2025
The end of transit, though widely anticipated, leaves Europe paying a third more for gas than a year ago and greatly exposed to supply shocks
23 January 2025
The country’s government and E&P companies are leaving no stone unturned in their quest to increase domestic crude output as BP–ONGC tie-up leads the way
22 January 2025
The return of Donald Trump gives further evidence of ‘big oil’ as an investable asset, with the only question being whether anyone is really surprised
21 January 2025
The new president must put his cards on the table and tell the American people, and the world, if the US is formally abandoning the energy transition