Australia’s major oil and gas companies such as Shell and BP have jointly stated that the Australian government’s renewable energy policy will bring them economic losses of US$1.8 billion, resulting in the loss of 3,600 jobs. They jointly objected to Prime Minister Kevin Rudd’s proposal to increase the share of renewable energy applications from the current 2% to 20% in 2020, which would force these energy companies to increase their use of renewable sources to achieve this goal.
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