The Australian Government is focused on providing an investment environment that is internationally competitive and provides a high degree of investor certainty.
Australia's fiscal arrangements are among the more competitive resources taxation regimes applied worldwide and are aimed at encouraging production while providing an adequate return to the Australian community.
The Hon Martin Ferguson AM MP, Minister for Resources and Energy released the Australian Energy Resource Assessment 1st March 2010.
The Assessment is the first of its kind, providing a national prospectus of Australia’s energy resources.
For the first time it brings together a comprehensive understanding of our rich energy resource endowment, integrating geoscience and long term economic energy outlooks with common terms and definitions.
The Assessment examines identified and potential energy resources and considers the factors likely to influence Australia’s energy future in a low-carbon economy to 2030. The Assessment:
- shows Australia has an abundance of energy resources accounting for 2.4% of the world’s proven resources
- demonstrates the rich diversity of both non-renewable (coal, uranium and increasingly gas) and renewable energy resources (wind, geothermal, solar and bioenergy).
- reviews and assesses the factors likely to influence the use of Australia’s energy resources to 2030 including the need for technologies to develop and extract energy more efficiently and cleanly from existing and new energy sources, particularly renewable energy.
- confirms Australia’s future energy use will require continued use of fossil fuels (coal, oil and increasingly gas) and renewable energy sources, notably wind, is expected to become increasingly significant.
The Assessment has been undertaken by Geoscience Australia and the Australian Bureau for Agriculture and Resource Economics.
Further information may be obtained from the Geoscience Australia website.