Fracking an economically unviable ‘pipe dream’ for the NT: Mills

TERRITORY Alliance leader Terry Mills has defended his fracking flip-flop, saying he doesn’t believe the ‘pipe dream’ will improve the Territory’s finances.

Terry Mills has defended his fracking flip-flop, saying he doesn’t believe the ‘pipe dream’ will improve the Territory’s finances. Picture: Katrina Bridgeford

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TERRY Mills has defended his fracking flip-flop, saying he doesn’t believe the “pipe dream” will improve the Territory’s finances.

In an exclusive column for the Sunday Territorian, Mr Mills said he had too many questions about “unconventional fracking” to be able to support it.

“There remain serious questions in terms of the environment, the community is opposed to it and with the shift to renewable energy and the state of the world gas market, the economics don’t stack up,” he said.

“Access Economics have identified nearly $100 million of NT taxpayer money already spent on this with no return.

“Fracking is a false hope.”

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In the 2017 NT fracking inquiry, headed by Justice Rachel Pepper, an independent report revealed the potential economic benefits of the fracking industry may have been overstated.

The report estimated the industry would increase the Territory’s population by between zero and 1240 people per year but its authors stressed its limitations, given “even the most basic information regarding the quantity and quality of gas in situ is unknown”.

“All economic modelling is subject to uncertainty, and should be treated with caution … the modelling presented in this report is subject to higher than usual uncertainty,” it read.

While Mr Mills did not say exactly what his infrastructure projects would be if elected, he focused on the “abundant opportunities of the future in renewable energy” and said he would reveal his plans in coming weeks.

However, he maintained fracking would not be one of them.

“The inconvenient truth is the energy caravan has moved on and the facts speak for themselves,” he said.

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Despite Mr Mills’ assertion that the community was “opposed” to fracking, an ntnews.com.au poll of more than 1340 voters found 70 per cent supported fracking in the Northern Territory.

Just over 20 per cent said they didn’t support the practice, while 7 per cent said they didn’t give a frack either way.

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