Australia’s oil and gas reserves

February 2022

© Commonwealth of Australia 2022
ISBN: 978-1-76093-348-7

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Terms of Reference

List of Recommendations

Abbreviations and acronyms

Chapter 1—Introduction

  Referral and conduct of the inquiry
  About Australia's oil and gas reserves
  Global oil and gas
  Management and regulation of Australia's oil and gas reserves
  Relevant inquiries and reviews

Chapter 2—Maximising public benefit from oil and gas reserves

  Defining benefit to the public
  How do other nations capture benefit from their oil and gas?

Chapter 3—Domestic gas supply and pricing

  West coast gas
  East coast gas
  Longer-term demand outlook
  Is there a gas supply problem?

Chapter 4—Improving oil and gas transparency and accountability

  Improving data transparency

Chapter 5—Decommissioning oil and gas infrastructure

  Improving decommissioning accountability

Chapter 6—Climate and other risks to public benefit

  Oil and gas contribute to climate change

Chapter 7—Improving Australia's Economic Return

  Improving domestic gas prices

Chapter 8—Committee View

Additional Comments by Government Senators

  Recommendation 1—Benefit to all Australians and Domestic Gas Reservation
  Recommendation 2—Renewables and Hydrogen

Additional comments—Senator Rex Patrick : Pumped dry!

  A bad report card
  National benefit test failure
  Revenue failure
  Transparency failure
  Liability failure
  Subsidy and assistance failure
  Groundhog failure

Dissenting report—Australian Greens Senators

Appendix 1—Submissions and additonal information

Appendix 2—Public hearings

Committee Secretariat contact:

Senate Standing Committees on Economics
PO Box 6100
Parliament House
Canberra ACT 2600

Phone: +61 2 6277 3540