Australia’s coastline could soon be opened up to more oil and gas drilling even as the United Nations declares the world cannot afford to increase fossil fuel production if it wants to avoid catastrophic global warming and 80 nations pledge to cut methane emissions.
The federal government is preparing to begin community consultations on potential exploration activities spanning new parts of Western Australia’s Bonaparte, Browse and North Carnarvon basins and Victoria’s Gippsland Basin, which oil and gas companies have identified as areas of interest.
The International Energy Agency this year warned the world must avoid developing any new oil and gas fields in order to keep global warming to 1.5 degrees.Credit:James Davies
The launch of the annual process for releasing offshore acreage comes as Australia declined to join a pledge by 80 nations at the COP26 climate summit this week to cut methane emissions, much of which are generated from oil and gas production.
Methane, a potent greenhouse gas, accounts for about half of the 1 degree net rise in global average temperature since the Industrial Revolution.
The methane agreement – spearheaded by the United States and European Union – covers six of the world’s 10 largest methane emitters and is among the most substantial achievements from this week’s COP26 climate summit in Glasgow to date.
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