Joe Ludwig (Queensland, Australian Labor Party, Manager of Government Business in the Senate) Share this | Hansard source

I seek leave to make a short statement.

Leave granted.

The government does not support the motion. Since 1964 there have been 3,040 wells drilled offshore from Australia and there has been one incident in shallow water. Nearly 90 of these wells have been drilled at depths greater than 1,500 metres, all without incident. The reality is that lessons need to be learnt by adjusting the actual practices, not by shutting down the industry. Australia already has a $16 billion trade deficit in imported fuel, which is expected to rise to $30 billion by 2015. If we were to shut down the industry, we would not be able to test or put into effect the lessons learnt, and Australia would have to rely on unsustainable sources of foreign oil, undermining our energy security. Shutting down the industry and putting the nation’s energy security, jobs and the economy at risk does nothing towards achieving better regulation in the industry.