A federal bid to control the price of gas has sparked a furious response from energy producers who fear an open-ended regime that lasts beyond the temporary price cap unveiled on Friday, with analysts claiming the Labor plan is a “declaration of war” on the industry.
“Nobody’s going to believe that, because it’s not true – 96 per cent of gas last year sold for under $12. The average price was $9.20 a gigajoule,” Bowen told Sky News. “There will be the usual gas industry hyperbole about negative impacts but we have heard that before when both Western Australia and Queensland put in place various forms of domestic gas reservation ... none of those bad outcomes occurred and investment has continued to flow.”
“That process ensures that the lights stay on, that industries can continue producing the goods and services we all need and that the jobs they provide are preserved,” a company spokesperson said.Australia country chair of Shell, which is involved in one of the three Queensland LNG export ventures, said the market interventions “will ultimately hurt the economy” and result in less supply of energy resources.
Opposition Leader Peter Dutton called the government plan for coal and gas a “catastrophic decision” on Friday. While there are no details of any gas compensation so far, this masthead revealed on Sunday that the planthat could lose out from the price cap – a potential deal-breaker for the Greens.
CroweDM NickToscano1 'Reasonable ' to whom?
CroweDM NickToscano1 I'm sure they'll be ok
CroweDM NickToscano1 We are using fossil fuels to reduce pricing of energy, for a market where renewables are cheaper than fossil fuel.
CroweDM NickToscano1 ‘Just two weeks to flatten the curve.’
CroweDM NickToscano1 Economics 101. Capped price means fall in production, higher prices for longer, the domestic market will struggle. First big blackout will be by mid-2024. PM, Treasurer & Energy Minister have never held a real job… union organiser, political staffer, MP. Ideology over reality.
CroweDM NickToscano1 These poor energy companies and their very well remunerated executives! It must so be hard to, now, be accountable!
CroweDM NickToscano1 Cry me a river of Gas that runs on a raging electriccurrent Excuse me while I cry croco tears for the gouging wroughting companies that sell Aust commodities to overseas comps then sell Aust its OWN products at EXORBITANT prices & profits GOUGING Tax Payers auspoI aholes
CroweDM NickToscano1 It’s our gas. They should provide it to everyone in australia for free for the privalige of exporting it. They are such turds
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