Australian Federal Election 2013: Implications for Mining, Energy and Natural Resources

Abstract

In September 2013, Australia elected a new federal coalition government. Before the election, the coalition made a number of specific commitments regarding energy and natural resources. While the government is yet to release a comprehensive strategy for energy and minerals, its policy is focused on traditional fuels, with a commitment to restoring the profitability of coal power stations, and increasing coal and gas exports and exploration for oil, gas and minerals. In contrast, climate change is a low priority, with the coalition intending to abolish a number of the previous Labor government’s initiatives aimed at reducing greenhouse gas emissions. This commentary explains the legislative and political constraints that may affect the government’s ability to achieve its promises, outlines the coalition’s major commitments in relation to natural resources and their prospects for success and concludes with some general comments on the implications for Australia of the coalition’s policy in regard to energy and climate change.