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Business Daily: New Gas Down Under

30/09/2013

New Gas Down Under

BBC World Service - Business Daily, New Gas Down Under

Will coal seam gas revolutionise Australia's economy?

Is Australian coal seam gas the new fracking? Plus our regular columnist Lucy Kellaway looks at whether viral acts of revenge work.

The controversy over fracking continues across the US and Europe. But there is now a similar row brewing in Australia - and on a bigger scale. It's about another unconventional source of gas that is at stake - 'Coal Seam Gas' - gas which is stored in coal but can be released if you drill down far enough. Once again, proponents are championing the gas as a new-found source of wealth for the country, and a means to supply energy security. They are talking about there being enough energy for centuries of use. But they have run into fierce opposition from some local people near the gas wells, who fear that they are damaging the environment. Paul Moss reports from Queensland in Australia.

Ever since the financial crisis began, there has been a general gnashing of teeth against the banking industry, not least because so many high-profile bankers had led the way - it is perceived - in ruining the global economy, then found their jobs and institutions spared because they were apparently 'too big to fail'. Author and economist Tim Harford has been musing on the conundrum of a finance industry that's at once proved so destructive and so indispensable. He tells Ed Butler about the makings of a possible ingenious solution.    

Plus our regular columnist Lucy Kellaway looks at whether viral acts of revenge work.

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