"..Among other initiatives, the Coalition says it will provide $100m in incentives to boost mineral and petroleum exploration, and would convene an “urgent meeting” of state governments, gas explorers and producers and gas consumers to set in place “a workable gas supply strategy for the East Coast gas market to the year 2020”. This follows widespread warnings of a sharp jump in gas prices as the LNG terminal in Queensland begins exports, and of a potential gas shortage in some areas such as NSW.
The Coalition document noted that electricity generators across Australia have faced “huge losses” in value thanks to the carbon tax. It said these losses meant higher costs for consumers and taxpayers, although it didn’t explain how.
“The O’Farrell government has made it clear that its black coal-fired power stations will suffer a loss in value of at least $5 billion because of the carbon tax,” it said. “This is a cost that will be paid by New South Wales taxpayers already struggling with rising cost of living pressures.”
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