Gas has two uses in this sense - the first is generating electricity , which it's quite close to being priced out of the market , the other is furnaces for various industries.
It's the second which is the most troubling for manufactures.
The more renewables that get built , the less gas that's needed , this may or may not release more gas into the local market depending on international contracts , and what turnbull does ... but it's now pegged to international prices so it would seem that even tho we have one of the most idiotic and ideological extreme governments ever - that the rational argument is to go hard on renewables , the mighty dollar wins in the end .
A side benefit is hydrogen production - which helps those currently using gas in industry , it can be added straight into gas pipelines and made from excess electricity generation & is currently being spruiked in SA as an export industry of the future .
I'm confident that $$ will triumph over lobbyists and idiot politicians , like canavan and Joyce
IFN Price at posting:
95.0¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)