Unconventional Gas Projects

The Hon. T.R. KENYON (Newland) (15:25): My question is to the Minister for Mineral Resources development. Will the government entertain a moratorium on unconventional gas exploration?

The Hon. A. KOUTSANTONIS (West Torrens—Treasurer, Minister for Finance, Minister for State Development, Minister for Mineral Resources and Energy) (15:25): No, we won't. I have seen in dispatches that members opposite are proposing a moratorium for a decade on unconventional gas exploration in the South-East. That is a devastating blow, if they are elected, to investment in this state's oil and gas industry.

Members opposite have put at risk one of the largest employers in this state. They have put at risk Santos. They have put at risk Beach Energy. At a time when they are vulnerable with low oil prices and high debt, they have put South Australian iconic companies at risk, and they shake their heads because they don't understand. They do not understand the damage they have just done to the oil and gas sector in South Australia.

The Leader of the Opposition is acting like a vandal—a vandal on the oil and gas industry. First, he has shown his credentials on having a debate on the nuclear industry; now he has shown his credentials on the oil and gas sector. The Liberal Party have been taken hostage by a left green wing ideologue. They no longer represent the interests of business. They no longer represent the interests of shareholders.

It is interesting to note that Beach Energy and Santos's largest shareholdings are from mum-and-dad investors here in South Australia. What does the Liberal Party say to them? I note that there are members opposite sitting in disgust at what their leader has just done. Silence from the member for Hartley, from the member for—whatever your seat is called.

The SPEAKER: Point of order.

Mr GARDNER: Both debate and incitement to others to break the standing orders.

The SPEAKER: The minister will not refer to the demeanour of opposition members.

The Hon. A. KOUTSANTONIS: I won't speak to the fallen chests and the long faces at what is another blow to the prestige of a once proud party. I say once again to the younger members of the Liberal Party: retake your party and retake your heritage; don't allow it to be overtaken by a man who believes in nothing.

This damage the Liberal Party are about to perpetrate on these companies should be reconsidered and reconsidered immediately. The Liberal Party should immediately convene a caucus meeting, overturn this decision and reinstate. There is no recommendation calling for a moratorium on oil and gas. There were members of the Liberal Party on this review and they didn't recommend a moratorium. I have to say this is a very sad turn of events for the oil and gas sector in South Australia.

We were a beacon to the industry after what was occurring in New South Wales and Victoria. It wasn't a partisan issue here in South Australia, but members opposite have just made it one and they have done immense damage to this state's reputation as an investment jurisdiction.