Cooper Energy weighs climate change risk and rewards
“The increasing role of gas represents a significant opportunity for Cooper Energy to contribute to emission reduction.
‘This is the outcome of both the anticipated increase in global demand for gas as the world transitions to a less carbon intensive energy system and the forecast increasing gas supply-demand imbalance in south-eastern Australia’. The report describes natural gas as ‘by far the cleanest of the fossil fuels’.
Cooper Energy cites forecast growth in global demand for gas of 43% between 2017 and 2040, under the IEA ‘New Policies’ scenario.
‘Even the more radical IEA Sustainable Development Scenario, designed with a view to limiting warming to under two degrees Celsius, and which envisages no change in overall primary energy demand between 2017 and 2040, anticipates global gas demand growing by 11% by 2025 and flattening after that through to 2040′.
…the company is well placed to both contribute to emissions reduction and to benefit as society moves to lower carbon power sources, particularly gas’.
The picture shows the location of Cooper Energy in Cooper Basin.
Across the border in Victoria, gas exploration is banned. That means:
- Victoria is ignoring its own gas reserves (a massive opportunity)
- Victoria will have to import gas ANYWAY
- Victoria will need to pay for import infrastructure for gas or reliable electricity
- Victoria’s energy costs will be higher
- Victoria needs fast-start gas turbines ANYWAY to back up unreliable ‘renewable’ windfarms
- Victoria can expect blackouts before the Labor party finally gets a clue
Summary: Instead of gas being a huge revenue opportunity for Victoria, it will become a cost. Victorian businesses will leave. Jobs will be lost
Environmental Impacts of Natural Gas
Natural gas emits 50-60% less CO2 when combusted in a new, efficient natural gas power plant compared with emissions from a typical new coal plant. Considering only tailpipe emissions, natural gas also emits 15 to 20 percent less heat-trapping gases than gasoline when burned in today’s typical vehicle.
If burning natural gas in vehicles is to deliver even marginal benefits, methane losses must be kept below 1 percent and 1.6 percent compared with diesel fuel and gasoline, respectively.
Source: Union of Concerned Scientists
 Cost and Performance Baseline for Fossil Energy Plants Volume 1: Bituminous Coal and Natural Gas to Electricity. Source: NETL (National Energy Technical laboratory)
 Find a car: Compare side-by-side.
Source: ANL (Argonne National Laboratory)