February 26, 2008 (The Australian) – A move to develop a national agenda to create a multi-billion-dollar industry producing liquid transport fuels from coal and gas will be launched today by the Rudd Government.
Resources Minister Martin Ferguson will use a conference in Brisbane to set the scene for gas and coal offsetting Australia’s huge and growing oil import bill.
Australia last year spent $7.5 billion on energy imports, more than it gained from selling oil, gas and coal overseas.
The country has only about eight years of oil at current rates of extraction but more than 100 years of gas and about 600 years of coal. Continue reading