b'Canberra observed Table 1.Production, import, export, and net supply for domestic consumption of primary fossil fuels in exajoules (EJ) by country in 2021. Source: https://www.unep.org/resources/production-gap-report-2023Figure 3.Australias resource and energy exports. Source: https://www.industry.gov.au/publications/resources-and-energy-quarterly-september-2023if there are 178 pages (https://www.industry.gov.au/publications/resources-and-energy-quarterly).The current issue underlines the importance of the sector, which contributes about 14% to Australias GDP and makes up more than two-thirds of Australias total merchandise exports. In The trend over the year indicated: 2024. Santos has successfully registered2022-23 the commodity export earnings the Moomba CCS project with the Cleanset a record of $467 billion.Reductions in emissions from electricityEnergy Regulator. The Regulators CCS as renewable energy uptake continues method provides a crediting period of 25When you add on the $1 billion invested Decreased fugitive emissions,years, over which period the project willeach quarter on mineral exploration, re\x1becting reduced production in coalqualify for Australian Carbon Credit Unitsit is surprising that the economists are mining due to the impacts of heavyfor emissions reduction from Moombaforecasting a signi\x1dcant downturn in rainfall events in New South Wales andCCS. The plan is to permanently to store 1.7future years. Figure 3 summarises the Queensland million tonnes of CO 2per year in the samecurrent situation and shows what the Decreased emissions from stationaryreservoirs that used to hold oil and gas.economists are forecasting.energy (excluding electricity) drivenThey are hoping for a \x1drst injection duringIt is surprising that that the forecast primarily by decreased activity in the2024 at a cost of US$6-8 per tonne of CO 2 . is for a decline in export values for manufacturing sector and decreased gasmost of our commodities. It does not consumption in the residential sector Whether CCS will make a signi\x1dcant Increased transport emissionsimpact to drive down carbon emissionsappear to consider the value of the re\x1becting the ongoing recovery fromis yet to be determined. The Internationalbattery-building minerals, such as COVID related travel restrictions,Energy Agencys (IEAs) Sustainablecopper and lithium, and you might particularly in domestic aviation Development Scenario requires ahave expected a larger contribution Increased emissions from agriculture,hundredfold increase in CCS betweenfrom the petroleum sector. The levels returning to pre-drought levelsnow and 2050 to achieve the worldsof exploration expenditure have been because of increases in livestockclimate goals going from 40 millionso small over the last few years, they numbers and crop production. tonnes of CO 2stored each year today tocan only go up.5.6 billion tonnes in just 30 years time. WeIn all the volatility of the price of Theres a lot of work to do to make aare not told how much CO 2they expectcommodities, gold has averaged substantial reduction. to store over the life of the project, but webetween USD 1800- USD1900, over the look forward to the \x1drst results in 2024. past four years. So, gold continues to Santos and Beach to develop Moombashine brightly and provide stability. With carbon capture and storage project The Resources and Energygood values, gold exporters should be Santos and joint venture partner BeachQuarterly provides a goodable to make a living!Energy recently announced a \x1dnalsummary of the health of our investment decision to proceed withresources industriesthe A$220 million Moomba carbon capture and storage (CCS) project inThe September 2023 Resources and South Australia, with startup expected inEnergy Quarterly is worth a read, even 23 PREVIEW DECEMBER 2023'