The head of Australia's consumer watchdog has slammed the gas industry, accusing it of misleading governments into approving massive gas export projects that have led to soaring power prices, killing off companies and jobs.ACCC boss Rod Sims says consumers paid the price when gas companies convinced governments of the need for massive export projects
"A lot of the things that Australian governments, politicians, were told when those projects went ahead, turned out not to be true," Australian Competition and Consumer Commission chairman Rod Sims told ABC News in an exclusive interview. Australia's mobile market is expected to be left with just three main players this year: Telstra, Optus, and a newly combined Vodafone-TPG. Are we worse off?It told ABC News the Queensland coal seam gas fields developed as part of the export program had led to a net increase in domestic supply.Australia has become the biggest exporter of gas in the world.
Gas prices have tripled since the exports began, despite a boom in gas extraction from the opening up of coal seam gas fields, with the pain being felt by consumers and businesses. Electricity prices — for households and businesses — have also been driven up by higher gas prices, because gas-fired power stations typically supply the electricity market during times of peak demand.
Anyway you cut it , it’s a fuckin’ disgrace. The Govt employ people to check such things, do forecasts, plot outcomes ..someone just said yeah sounds good .. here’s my invoice and the Govt agreed and we all get truely fucked with out lube ..which party signed this ?
If Australia has to import gas for local supply it shows a complete failure by Government and industry in this field disgraceful
When ever a new export market opens up in Australia the Price goes up on that unit to match the price it gets overseas e.g: Prawns, We pay the same high price as overseas The GOV't knew this would happen, their stupid but not this stupid!
. Privatisation of govt assets is ALWAYS corruption, greed and theft of value. Always has been. .
. Lazy journalism ABC StephenLongAus It doesn't take much to ask WHO benefits from the longterm contracts at cheap prices. To say 'Japanese' households covers up the middle man companies that buy it cheap (ie less Aus tax paid) & then sell it on. Same ppl but in tax haven?
MrKRudd Rudd/Ferguson just repeated on the east coast what Howard/McFarlane had started on the west coast, squandering gas. Australia 's east coast gas crisis will be permanent
How can we possibly trust anything a news organization says if they let scumbag felons and propagandists make their hiring/firing decisions. You're terrible at journalism.
Cut coal - increase reliance on gas- increase power prices.. good business model for the oil&gas industry.
Successive Governments are to blame. They let this happen.
StephenLongAus acccgovau Australia's gas problem goes back to JohnHoward's flawed energy white paper 2004 when he declared reserves worth 100 years of domestic demand. He abrogated duty of care, failed to employ independent geologists to check on the gas industry's claims
power networks were privatized n gas cowboys are allowed to export with no local reserve so we r getting crazy prices Priv enterprises only worry about fat profit Public good comes last
At the request of Murray energy who donated 1.4 mill to a Trump super pac.
Wel that & this admin cutting funding to alternate energy sources.
ABCNews DavidMuir went to a lunch at the White House AFTER the White House banned CNN for its reporting 1a w/ no comment or action from ABC, but a news anchor commenting on inequality requires 'transparency.' 🙄😐😐 ABC has taken a side.