The federal government will not buckle to “tech giant-like” threats from gas companies after the unveiling of intervention triggered by the industry’s failure to respond to clear signals from the government and the community, Industry Minister Ed Husic has said.
“Our expectation is that they [gas producers] won’t dig in and make the current situation even worse,” Mr Husic said. “I will be completely frank, if the gas companies had picked up the signals that were being issued all over the place, we wouldn’t have gotten this. They thought they could snub their nose at community sentiment,” Mr Husic said.
Meg O’Neill, chief executive of Woodside, on Monday became the latest executive to join the chorus of industry condemnation. Ms O’Neil said the company was looking at options to increase gas output on the east coast through exploration drilling and LNG import terminals, but the proposed intervention “will make it very difficult for industry to economically invest to increase supply”.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Finally actually a bit of balanced coverage. you seem to be giving an awful lot of credence to the claims of gas producers who have done absolutely nothing to contribute to domestic energy security and openly threaten the government.
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
PM to meet gas industry but holding firm against threatsAnthony Albanese will speak with bosses before Thursday’s parliamentary vote. However, he is not backing down amid their plans to defer or reduce investment. Good to see AFR return to its roots interested and broadly supportive of business. Any Government that interferes in markets like this raises spectre of regulatory uncertainty which may genuinely hinder future investment. At minimum producers should be compensated PhillipCoorey gas industry is making economic decisions, albo is making idiological decisions Love that Albo and Labor are doing everything they said and promised. Compared the Scummo today lieing at the Robodebt Royal Commission.
Source: FinancialReview - 🏆 2. / 90 Read more »
‘You were warned’: resources minister urges gas companies to negotiateResources Minister Madeleine King said the gas industry had plenty of warning over Labor’s plans to impose a “reasonable price” rule even as some LNG exporters continued to charge “exorbitant” prices. Minister King: studied an Arts degree; then tried engineering and failed after a year, then went and studied Law and became a politician. Knows NOTHING about resources and energy policy. Why do we elect these useless people to decide what’s best for industry? the gas miners are arrogant n greedy They r selling the max price rip off while exporting at cheaper price contract They r bound by their own stupidity to sign long term contracts Too bad. How sad. Fall starts now.
Source: FinancialReview - 🏆 2. / 90 Read more »
Gas and coal companies have taken ‘this country for a ride’Greens Leader Adam Bandt says his party has been calling “for some time” for gas and coal corporations to be reigned in as they “have been taking this country for a ride”. “Power bills have been going up and these coal and gas corporations have been profiteering off people’s pain and off the back of the war in Ukraine,” Mr Bandt said. “Freeze electricity bills for two years, give people money to get off expensive and dirty gas by replacing their appliances … and fund it all by putting a windfall tax on these coal and gas corporations.” despicable greens, Labor's mismanagment means they now need to do a deal with the despicable greens Their wheels are not as big as yours Greengrass. He knows he’s safe in making these Grand Statements, because he’ll Never have to implement them. Typical sideline hero.
Source: SkyNewsAust - 🏆 7. / 78 Read more »