“Labor wants to open new coal and gas mines. The Greens want to stop them. The government is likely to need the Greens’ backing in the Senate for the safeguard rules, which are a disallowable instrument, and to pass the enabling legislation currently before the parliament,” Mr Bandt said today.
Tell your friends this ideology denies logic, considering these facts: The ACCC east coast gas market report released on Friday said Australia remained at risk of domestic supply shortfalls unless federal and state governments slashed red tape and brought new projects on line.
“Although the need for investment in new sources of supply and associated infrastructure is clear, only a limited number of relatively small domestic supply projects that could come online between 2023 and 2027 have been approved for development,” the report said.
“Forecast production is insufficient to meet forecast demand in the east coast from 2027. Despite expectations of a greater shift towards electrification in Australia and a reduction in gas usage, there are likely to be shortfalls across the east coast gas market from 2027 arising from domestic and export demand without steps being taken.”
EEG Price at posting:
21.0¢ Sentiment: Buy Disclosure: Held
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