The Australian Petroleum Industry and the Natural Environment

This study investigates how the environmental impacts of petroleum exploration and development can be addressed by applying Environmental Valuation. The Contingent Valuation (CV) method has been applied in a small scale study in relation to native vegetation removal and disturbance in the Cooper Basin of South Australia. This was the first recorded application of CV in a context of petroleum developments in Australia. Study results indicate that there is a potential for successful application of valuation techniques such as CV to address negative environmental externalities associated with petroleum developments.