Industry minister says gas companies are ‘not picking up the signals’. Follow all the day’s news live
Get our morning and afternoon news emails, free app or daily news podcast
Gas supply not a problem, ‘glut of greed is’, industry minister says
Husic:
This is not a shortage of supply problem; this is a glut of greed problem, that has to be basically short-circuited and common sense prevail.
The pricing mechanism is the one that I think needs to be seriously examined.
The LNG exporters are offering gas to the domestic market at prices they couldn’t reasonably expect on the international market.
We have the ACCC looking at that [code of conduct] and that code of conduct is to help better guide the way in which these contracts get negotiated … in terms of the other areas, we want to work through that internally.
If you look at what the treasurer has said over the last few days, he is examining those type of options and again that will be in the mix of things he thinks through.
I think the bigger focus long-term is the price mechanism.
Continue reading…Industry minister says gas companies are ‘not picking up the signals’. Follow all the day’s news liveGet our morning and afternoon news emails, free app or daily news podcastGas supply not a problem, ‘glut of greed is’, industry minister saysHusic:This is not a shortage of supply problem; this is a glut of greed problem, that has to be basically short-circuited and common sense prevail.The pricing mechanism is the one that I think needs to be seriously examined.The LNG exporters are offering gas to the domestic market at prices they couldn’t reasonably expect on the international market.We have the ACCC looking at that [code of conduct] and that code of conduct is to help better guide the way in which these contracts get negotiated … in terms of the other areas, we want to work through that internally.If you look at what the treasurer has said over the last few days, he is examining those type of options and again that will be in the mix of things he thinks through.I think the bigger focus long-term is the price mechanism. Continue reading…