Submission: Cost recovery framework for the Northern Territory onshore petroleum industry
The Australia Institute made a submission to the consultation process regarding Recommendation 14.1 of the NT Fracking Inquiry, “That prior to the granting of any further production approvals, the Government designs and implements a full cost-recovery system for the regulation of any onshore shale gas industry.”
The onshore gas industry already imposes significant economic costs on the NT and Australian public and significant environmental costs are likely to follow. In this context, cost recovery processes should focus on protecting the public interest rather than facilitating the development of the industry. Full costs should be recovered as quickly as possible from all companies involved in the industry. No exemptions or delays should be granted.