The role of the regulatory framework in encouraging the sustainable extraction of petroleum resources in Australia and Norway
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This article analyses the capacity of the current Australian petroleum regulatory framework to encourage sustainable socio-economic extraction of Australia's offshore petroleum resources through a comparative analysis with the regulatory framework for Norway. Firstly it considers what sustainable development means within the context of non-renewable petroleum resources. After examining the petroleum resources and policies of Australia and Norway, this paper focuses on the legislative framework that regulates offshore petroleum and extraction. The analysis identifies a number of limitations of the current Australian legislative framework to encourage sustainable petroleum extraction.
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