Toward Decline
Global oil and gas discoveries hit 40-year low on investment cutbacks
Why it matters
Australia depends on diversified LNG imports and strategic fuel reserves for defence operations and grid stability. A 40-year low in new discoveries signals a tightening global energy market, reducing Australia's ability to source alternative fuels and sustain operational reserves in a contested Indo-Pacific, especially if Hormuz access is disrupted or regional supply chains fracture.
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