Oil and Other Sources of Energy in Australia

Australia, with its fast-growing economy and high standard of a~ living, has a high and rapidly increasing per capita consumption of energyIn total terms, Australia's energy requirements are doubling every 15 years, and among mature Western economies Australia ranks behind only Italy-and Japan in the rate of increase of energy consumption.The use of energy is often accepted as a yardstick of development and on this basis Australia might well congratulate itself on its high energy consumption. However, it is less well recognised that the resources absorbed in the production of energy represent a real cost to the* community, and that just as we strive for industrial efficiency or farm productivity we should strive for economy in the use of energy fuels.Australians spend annually an estimated ú500 million.on all forms of energy, a sum which represents about seven per cent of the Gross National Product. In all, energy production and distribution absorb the employment of more than 100,000 persons. In addition, the annual capital investment by.the oil industry amounts to some E55 millions, by the coal industry about ú12 millions, and by electrical and gas authorities some E108 millions, in total representing more than ten per cent of annual investment in other than private motor cars and housing,