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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Labor’s energy plan could go beyond price cap in ‘declaration of war’ on the industryEnergy producers fear price controls will last beyond a temporary cap negotiated last week after a long-term “reasonable price provision” was included in a consultation paper. CroweDM NickToscano1 The SMH is like a Murdoch rag, but even more smug and annoying. CroweDM NickToscano1 A declaration of war on the industry WTF could go wrong...Labor lunacy 🤦♂️ CroweDM NickToscano1 The gas cartels & their investors have already declared a price & misinformation war on the Australian public. Fact 1. 80% of Australian gas is exported or used to power the LNG trains that prepare it for export & is free of price caps.
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Albanese government takes ‘no backwards step’ when it comes to energyEnergy Minister Chris Bowen says the Albanese government “takes no backwards step” when it comes to acting on rising energy costs after price caps on energy resources were announced on Friday. “A new capacity investment scheme, which will unleash billions of dollars of stored, dispatchable renewable energy right across our country,” Mr Bowen told a press conference on Saturday. “We had 4 gigawatts of energy leave the grid under the Liberals, and only gigawatt come on, that’s a part of the reason why we face this energy crisis.” It’s called kicking the can down the road Liar, we do *not* import coal from Ukraine or Russia. Bowen is trashing *our* money for *his* idiology. That’s because nobody sleepwalks backwards.
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Energy package is no ‘magic bullet’ but will take sting out of price rises: BowenEnergy Minister Chris Bowen has accepted the Energy Price Relief Plan will not 'solve all the problems' in the energy market but insisted the Government took 'decisive action' to protect consumers from price rises. Solving the symptom and not the problem. Government in a nutshell. It’s a LOT more than the crooked, do-nothing Morrison Government did! And in a Far Shorter time period. It will cause more problems and solve none.
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Australia news live: Chris Bowen rejects claim energy price plan could fuel inflation; hospitals under pressureFollow the latest updates Don’t listen to the politicians, just look at your bills. To reduce the cost of living is simple..burning more coal! Anyone with basic economics knowledge will recommend against interfering with a free market. May not be popular but its the right 'adult' thing to do. Moving into a dangerous realm of price caps, favoritism ,never ending supply of subsidies and bailouts
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Price caps essential for energy transitionOPINION: As Australia transitions from fossil fuels to renewables, federal and state politicians must bring the community with them. Price caps are a sensible first step in that journey. hello the activists have taken of over AFR .. price caps are 'sensible'? Talk about headline the BS and convince people it’s a forgone conclusion.
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Coal price cap ‘tears’ at increasing energy production supply: LittleproudNationals Leader David Littleproud says the coal price cap will remove the foundations of increasing gas and energy production. “The reality is if you start putting a price cap on it, you start actually tearing away at the fundamentals of increasing supply,” Mr Littleproud told Sky News Australia. “Who would go dig more holes if you’re going to have a price cap put on you? “Which makes it unattractive in many ways for them to continue to develop.” Know why the Libs, LNP and Nat's are all ...upset? They have to go to work and do...work for the benefit of citizens. Missing out on XMAS parties from banks and mines? Parliament recalled after national cabinet strikes energy deal – as it happened This guy looks like Littlefinger from GOT.
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