Australia is blessed with an abundant supply of a range of fuels and a large number of investors willing to help develop its resources. The investments we make today, and the choices we make between fuels, will live with us for decades.

Governments in Australia and around the world are setting targets for emissions reductions by 2050 that would require very significant changes in the fuel mix. They continue to value security of supply and access to a diverse set of energy sources. But, while governments here and overseas are introducing policies to promote renewable energy, the policies required to encourage a large-scale shift away from coal are proving harder to deliver.

Gas is likely to emerge as a winner in the coming decade, in Australia and overseas, whether as a balancing fuel for intermittent renewables, to meet any shortfall to 2020 renewable targets, or as a greater part of the mix for baseload electricity generation.