I moved to Perth in June last year from a small, rural town in central Pennsylvania. There I witnessed first-hand the impact of the “fracking” boom — the rapid exploitation of the unconventional gas resources in the Marcellus shale play. It hit rural Pennsylvania particularly hard because it is economically depressed, struggling to make ends meet by farming and what's left of manufacturing that has not been outsourced to China, Mexico, and other exploitable labour pools.
shale gas reserves
A report released by the Institute for Energy Economics and Financial Analysis on May 19 has said that the $800 million gas pipeline planned for the Northern Territory is economically unviable, to the extent that it is described as the “whitest of white elephants”. The pipeline, known as the North East Gas Interconnector (NEGI), has been the crown of the NT Country Liberal Party’s economic strategy in the lead-up to the August election. The pipeline is designed to transport the vast shale gas reserves in the NT from Tennant Creek to Mt Isa for sale to the rest of the world.