Why Trump’s ‘drill, baby, drill’ mantra won’t work in Australia
The US president’s rationale that cheaper gas will power a manufacturing renaissance and reduce household bills can’t be applied to fix the energy woes here.
Anyone looking for a sugar hit for Australia’s economy may be tempted to adopt a version of Donald Trump’s “drill, baby, drill” commitment to expand oil and gas production.
The US president’s rationale is that more, cheaper gas will power a manufacturing renaissance and reduce electricity bills in the US. Any consideration that Australia should do the same thing needs to be tempered with a dose of reality.
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Tony Wood is head of the energy program at the Grattan Institute.
