Oil and Gas News

Federal Labor leader backs CCS

The Federal Opposition has announced that it is willing to support the development of carbon capture and storage (CCS) technologies if renewables funding is continued.

Federal Labor leader Anthony Albanese spoke to the National Press Club in Canberra this week, stating that there needs to be an energy policy put in place to help the economy recover from COVID-19.

“What I’m putting forward today is a proposal in which we can have an energy policy in this country. We don’t have one at the moment,” Albanese said.

“What we need today is a mechanism to drive investment. We’re prepared to sit down with the Government and work out that framework, go forward in a bipartisan way.

“Because what business tells us is that [a framework] would drive massive investment in renewables in particular. And that would drive a significant improvement in job creation at the very time it’s needed.”

Albanese stated in his speech that it is essential that targets be based upon science, with the framework being flexible, sensible and enduring.

“This is a proposal seeking out bipartisanship on the framework. We can have our disagreements about how much the target should be. And we’ll base our targets upon the science,” Albanese said.

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