Australians will face higher energy costs if Prime Minister Anthony Albanese’s government fast-tracks new fossil fuel projects, according to a group of former oil and gas industry leaders. In an open letter published on Thursday, the signatories—including former executives from Shell, BP, and Woodside—warned that accelerating gas and coal developments would lock in higher prices and delay the transition to cheaper renewable energy.
Warning from Industry Veterans
The letter, coordinated by the climate think tank Beyond Zero Emissions, argues that the government’s proposed reforms to environmental approvals would prioritise fossil fuels over clean energy, ultimately burdening households and businesses. “Fast-tracking new gas and coal projects will not lower power bills; it will prolong Australia’s reliance on volatile global fossil fuel markets and keep prices high,” the letter states.
Economic and Environmental Concerns
The former leaders point to the rapid cost reductions in solar, wind, and battery storage, which they say are now cheaper than new fossil fuel developments. They urge the government to instead streamline approvals for renewable energy and transmission infrastructure. The warning comes as the Albanese government faces pressure to balance energy security with climate commitments, having pledged to cut emissions by 43% by 2030.
Environmental groups have echoed the concerns, noting that new fossil fuel projects could undermine Australia’s Paris Agreement targets. The letter’s signatories include:
- John Allpass, former managing director of Shell Australia
- Linda Cook, former CEO of BG Group and Shell executive
- Mike Utsler, former CEO of Woodside Energy
They argue that Australia has a unique opportunity to become a renewable energy superpower, but only if policy supports clean energy over fossil fuels. The government has not yet responded to the letter.
