Australia has plenty of gas, but our bills are ridiculous. The market is broken

Natural gas Energy resources Energy pricing Australia

Right now, two projects have been proposed to import gas from overseas to supply eastern Australia. This is an absurd prospect. Australia is a resource-rich country, and exports more gas than any other nation. Why then, would we need to ship it in?

The rate of liquified natural gas (LNG) exports from Australia has skyrocketed over the past two decades. In the past ten years, this coincided with a trebling in the price of gas on the east coast.

The situation points to a dramatic failure of management and regulation. The result is that households are struggling with soaring gas bills, and the future of Australia’s manufacturing sector is at risk.

It is unconscionable that Australian governments have allowed LNG producers untrammelled export growth without credible safeguards for the domestic market. The crisis could be de-escalated with stronger export controls and a regulatory regime more focused on the public interest.

Read the full article on The Conversation.

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