Environment Magazine

Australia has just signed its biggest single deal in resources sector.  It is with the Chinese and it will allow the Gorgan Gas Project in Western Australia to go ahead.  The size of the deal took the headlines but as the detail emerges, the West Australian and Australian Federal Governments have agreed to underwite the environmental liabilities and specifically around carbon storage.  This might be a sign of things to come.  It is a dangerous precedent.

Environmental liabilities, if we are serious, should become part of life.  An exemption culture or special status culture is not really in anyone's interest.  The environment has a cost and it should be applied equally.  What Australia has done in its excitement is set a precedent that gives priority to new projects.  It might well intended but it is unwise.