Metgasco fiasco should be a lesson to AGL, Santos and coal industry
MEDIA RELEASE – 16 December 2015
The Greens NSW mining spokesperson Jeremy Buckingham today welcomed the announcement that Metgasco shareholders have agreed to take the compensation package in exchange for abandoning plans to frack for coal seam gas in the Northern Rivers. He said the Metgasco fiasco was a lesson about the importance of earning a social licence to operate.
“The Metgasco fiasco highlights the importance of earning a social licence to operate in a community. Metgasco patently failed to do this and the shareholders have paid the price,” said Greens MP Jeremy Buckingham.
“Neither AGL in Gloucester, nor Santos in the North West have earned a social licence from those communities and should heed what has happened to Metgasco when contemplating the future of their coal seam gas projects.
“New coal mines also do not have a social licence, with significant community opposition as well as widespread concern about the impact on the climate.
“The goals of the Paris climate agreement will only be met if we phase out fossil fuels and that clearly means new fossil fuel industries, such as coal seam gas, must be prohibited.”