ENERGY ASSET ACCOUNT
OVERVIEW
Environmental assets are best defined as those resources available for harvesting from the environment. These assets are commonly called Economic Demonstrated Resources (EDR) and are distinct from those that are too difficult to access with current technology and any hypothetical resources that might exist. In the Energy Account, Australia, physical energy assets are limited only to coal (i.e. black and brown), crude oil, condensate, industrial gases and uranium oxides. Further detail on environmental assets is contained in the Explanatory Notes.
- Physical stocks of black and brown coal increased respectively by 3% (59,400 PJ) and 5% (41,160 PJ) between 2014-15 and 2015-16, while stocks of uranium also increased by 2% (15,904 PJ).
- Between 2015-16 and 2016-17, the value of black coal stocks decreased by 27% ($2.8 billion), while the value of uranium stocks increased by 46% ($0.1 billion).
Table 1.1 shows detailed information about Australian energy stocks as at June 2016.
Table 1.1 Energy stocks, Australia, as at June 2016
|
 | Unit | Black Coal | Brown Coal | Crude Oil | LPG | Natural Gas | Uranium |
|
| Stock (closing) | PJ | 1 868 400 | 767 340 | 4 851 | 4 150 | 117 364 | 728 840 |
 | | | | | | | |
| Net present value | $m | 10 346 | 315 | 27 080 | 5 342 | 164 302 | 160 |
| | | | | | | |
| Extraction rate (a) | % of EDR | 0.6 | 0.1 | 8.8 | 2.0 | 1.8 | 0.5 |
| | | | | | | |
| Estimated resource life (remaining years of stocks) | Years | 157.2 | 1,197.2 | 11.3 | 50.5 | 55.2 | 194.3 |
|
(a) The rate at which physical removal of energy resources occurs from the energy deposits.
Source: Australian System of National Accounts (cat. no. 5204.0). |
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