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| Bureau of Resources and Energy Economics | |
|---|---|
| Name | Bureau of Resources and Energy Economics |
| Former name | Australian Bureau of Resources and Energy Economics |
| Established | 2011 |
| Dissolved | 2015 |
| Jurisdiction | Australian Government |
| Headquarters | Canberra |
| Parent agency | Department of Industry (former) |
Bureau of Resources and Energy Economics was an Australian statutory research agency providing independent analysis of the resources and energy sectors. It produced forecasts, market assessments and policy advice that informed decisions by entities such as Commonwealth of Australia, Treasury (Australia), Department of Environment and Heritage and stakeholders including BHP, Rio Tinto, and Woodside Petroleum. Its outputs intersected with debates involving Gillard Government, Abbott Government, International Energy Agency, and regional partners like ASEAN and APEC.
The bureau was created amid policy changes under the Rudd Government and the Gillard Government to consolidate capability from predecessors including the Bureau of Agricultural and Resource Economics and other research units, with predecessors engaging with events such as the Global Financial Crisis (2007–2008), the 2008–2009 Australian recession, and commodity shocks driven by demand in People's Republic of China. Its existence spanned tenure overlaps with ministers from portfolios such as Kim Carr, Ian Macfarlane, and administrations during the 2010 Australian federal election period. The agency was later integrated into restructuring under the Abbott Government, reflecting policy shifts after the 2013 Australian federal election.
The bureau provided independent assessments to inform decisions by agencies including Department of Industry, Innovation and Science, Department of Foreign Affairs and Trade, and corporate entities like ExxonMobil, Chevron Corporation, and Glencore. Core responsibilities included forecasting commodity prices relevant to World Bank, supplying scenario analysis used by International Monetary Fund, and advising on resource projects with implications for trading partners such as Japan and Republic of Korea. Its remit connected with regulatory and fiscal instruments debated in contexts like the Minerals Resource Rent Tax and consultations involving Australian Competition and Consumer Commission.
The bureau operated with divisions modeled on those in research institutions such as Australian Bureau of Statistics and centers like CSIRO. Leadership reported into portfolio ministers who had held office alongside figures from Australian National University networks and public service executives influenced by precedents at Productivity Commission. Staff included economists, statisticians and geoscientists liaising with counterparts at Geoscience Australia, Commonwealth Scientific and Industrial Research Organisation, and international agencies including United Nations Conference on Trade and Development specialists. Collaborations extended to industry bodies such as Chamber of Minerals and Energy of Western Australia and academic partners at University of Melbourne, University of Sydney, and Australian National University.
Notable outputs included commodity forecasts, market outlooks and technical reports which were used by companies like Fortescue Metals Group and policy analysts at Grattan Institute. Reports often engaged with issues central to trade with China, India, and resource diplomacy involving United States Department of Energy actors. Publications paralleled thematic work seen in reports by International Energy Agency, BP Statistical Review of World Energy, and analyses by OECD and featured in media coverage alongside commentary from outlets such as The Australian Financial Review and The Sydney Morning Herald.
Methodologies combined quantitative techniques similar to those used by International Monetary Fund staff, econometric models used at Reserve Bank of Australia, and resource assessment practices akin to United States Geological Survey protocols. The bureau used scenario analysis informed by trade data from UN Comtrade, price series referenced against indices like those of Bloomberg L.P. and S&P Global, and geological assessments leveraging data standards related to JORC Code. Peer review and stakeholder consultation drew on norms from World Bank Group project pipelines and academic publication practices at journals associated with Harvard University and London School of Economics researchers.
The bureau produced major thematic assessments on topics including liquefied natural gas projects involving Chevron Corporation and Shell plc, iron ore dynamics impacting Vale S.A. and Fortescue Metals Group, and coal market studies with relevance to Peabody Energy and Glencore. It provided modelling inputs for infrastructure decisions influenced by energy policy debates in European Commission contexts and bilateral arrangements with Japan and Republic of Korea. Assessments were used in deliberations over taxation instruments debated by political actors including Tony Abbott and Julia Gillard.
After restructuring, functions from the bureau were subsumed into successor units within departments that engaged with entities like Australian Trade and Investment Commission and research arms of Department of Industry, Innovation and Science (Australia). Its datasets and methodological approaches influenced later work at Australian Bureau of Statistics, Geoscience Australia, and private consultancies such as Wood Mackenzie and McKinsey & Company. The bureau's influence persisted in policy discussions involving Climate Change Authority, Clean Energy Regulator, and international forums including G20 resource and energy dialogues.
Category:Defunct Australian government agencies