The Australia Institute economist Rod Campbell said he would “expose gas industry claims” at a meeting in Katherine on Sunday afternoon.
Influential economist Rod Campbell from The Australia Institute will present a seminar in Katherine to discuss the economics of fracking as part of a tour of the Northern Territory.
Mr Campbell has researched and written extensively on the economics of gas in Australia, including in the NT.
- WHAT: Public seminar and discussion on the economics of fracking
- WHEN: 3-4.15pm, Sunday.
- WHERE: The Katherine Club, 19 O’Shea Terrace.
“The rest of Australia is in a state of complete chaos on gas policy and markets. The NT needs to think long and hard about the costs and benefits of joining this chaos with more pipelines and fracked gas," Mr Campbell said.
"We're seeing a Liberal, pro-business Prime Minister threaten state intervention in gas markets. We're becoming the world's biggest gas exporter, yet our gas tax revenue is declining. Things are pretty crazy at the moment.
"Gas companies are infamous in the rest of Australia for paying little in tax and royalties. Yet supposedly hard-headed economists and policy makers seem to think they will play nice here in the NT.
"The Territory is being promised a jobs boom, but in reality fracking projects don't employ many people. The entire gas industry employs less people than Bunnings.
"Our Institute's overall view is that the economic benefits of gas development in the NT have been heavily overstated by the gas industry. I hope that my visit can bring a little more balance to the economic part of the gas debate.
"The gas industry is under increasing scrutiny in the Territory for its potential impacts on groundwater and local communities, and this scrutiny must extend to the economic claims of the gas industry" he said.