Gas and other resources driving Queensland economy
October 14th, 2015
Five years ago, if you spoke to any West Australian who had even a slight interest in their state economy, they would have proudly said that the mining boom happening in regional WA was keeping the state running.
Today, if you talk to any Queenslander who has an interest in their economy, they would say exactly the same thing.
And now, hot on the heels of a report from the Commonwealth Office of the Chief Economist, the Queensland Resources Council has released a state-wide analysis showing the resource and energy sector plays a critical role in contributing an estimated $64.8 billion to the state’s economy in 2014-15. In simple terms, the industry is directly and indirectly responsible for one in every five dollars in Queensland’s economy and one in every six jobs.
‘Despite a slump in commodity prices and the ‘disrupt and delay’ tactics of activist groups, the Queensland resources sector continues to be the lynchpin of the state economy as a generator of jobs, exports, spending and government revenues,’ QRC chief executive Michael Roche said.
The analysis points out that minerals and energy companies spent $32 billion in Queensland with the coal industry contributing 50 percent, oil and gas 33 percent and metals 14 percent.