Most definitely bad news. This is the antithesis of market meddling that will lead to more under investment and also encourage pushing available gas to offshore export markets. Established cartels will have even more bargaining power - leading to more outrage and market meddling.
Unless the government also bring bulk coin to the infrastructure and development table to offset the above problems, we are basically entering a form of purgatory - maybe a little dramatic, but this absolutely muddies the waters to allow a continuation of the stalemates that is preventing new gas fields to be developed in the first place
COI Price at posting:
19.0¢ Sentiment: Hold Disclosure: Held
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