Peak oil body calls for protection of industry’s future (Australia)

THE federal Government is being urged to introduce a flow-through share scheme to protect jobs – and Australia’s junior petroleum exploration industry.

The Australian Petroleum Production and Exploration Association — the peak industry body for Australia’s oil and gas companies — has used its pre-budget submission to exhort the federal Government to act swiftly to relieve pressure on the sector as the global financial crisis takes its toll.

APPEA warned that a decline in petroleum production in Australia would expose the nation to “major trade imbalances and potential economic, environmental and social costs”.
TheAustralian