Australia Backs $47 Billion Gas Sector's Role in Transition [Yahoo! Finance]
Chevron Corporation (CVX)
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Source: Yahoo! Finance
major exporter, the latest shift by the center-left Labor government toward greater support for the fossil fuel. Most Read from Bloomberg Americans Are Racking Up ‘Phantom Debt' That Wall Street Can't Track Microsoft's Xbox Is Planning More Cuts After Studio Closings Stormy Daniels Will Return to Court in Test of Trump's Demeanor Trump Judge Indefinitely Postpones Documents Case Trial The government will release a long-term framework, called the Future Gas Strategy, to establish gas's role in the transition to cleaner energy as it looks to meet a target for net zero by 2050. That will open it up to criticism to pandering to the A$72 billion ($47 billion) liquefied natural gas export industry, which argues that the nation faces a domestic shortfall as new projects have been stalled by onerous regulations. “The strategy makes it clear that gas will remain an important source of energy through to 2050 and beyond,” Minister for Resources Madeleine King said in a statement. “
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