Case for gas as transition fuel falling apart on both economic and environmental costs
Case for gas as transition fuel falling apart on both economic and environmental costs
Australia’s biggest gas projects have cost shareholders $US19bn and the methane emissions are on par with coal, studies show.
@vividspecter Here's the key details from the article: "The Australasian Centre for Corporate Responsibility (ACCR) today released financial modelling that shows Australia’s LNG projects did not generate value for shareholders.
"The report, “Australia’s LNG growth wave – did it wash for shareholders?” analysed returns from Woodside’s Pluto project, Chevron’s Gorgon and Wheatstone projects, the three east coast LNG plants supplied by coal seam gas, Inpex’s Ichthys project and Shell’s Prelude.
"It found these projects collectively eroded $US19 billion of shareholder value by requiring extra investment for running 35 per cent over budget and behind schedule, according to data from Rystad."
#ClimateChange #Climate #Green #Business #AusPol #Aus #Politics #Environment #Gas