Malcolm Turnbull is failing the test of national leadership by not acting immediately to restrict LNG exports.
The Australia Energy Market Operator (AEMO) yesterday published an update to the 2017 Gas Statement of Opportunities which shows a gas supply shortfall for the east coast of Australia that was worse than previously expected.
This shortfall is because the vast majority of Australia’s gas is being sent overseas by multinational companies.
The Andrews Labor Government has long advocated for a cap on gas exports – Australian gas should be reserved for Australian households and Australian businesses.
As it now stands, it’s cheaper to buy Australian gas in Japan then it is here at home.
An export cap will ensure sufficient gas supply for the domestic gas and electricity market and help put downward pressure on gas prices.
Victoria continues to produce more than enough gas for its own needs and exports into the national market.
Victoria is proud to be the first state to legislate a ban on fracking – it supports our farmers and preserves our state’s hard-won reputation for producing high quality food.
It is also important to make clear that there are currently no proven or probable onshore conventional gas reserves in Victoria.
Malcolm Turnbull’s hysterical embrace of fracking highlights yet again how out of touch he is.
It is also a warning to people living in regional Victoria – you can’t trust the Liberals and Nationals when it comes to keeping the ban on fracking.
Malcolm Turnbull is failing the test of national leadership – he can act today to reserve Australian gas for Australians but he refuses to do so.