LABOR BUNGLES MINISTERIAL GAS MEETING WITH MORE HOT AIR

• Labor still has no solution to the gas crisis, despite over two years of shortfall warnings.
• Ministerial meeting’s only action is to commission another review.
• Concern for investment certainty over lack of detail around AEMO expanded powers.

Today’s Energy Ministerial Council meeting confirmed that a nation with an abundance of gas is facing a gas shortage thanks to a combination of State and Federal Labor party policies that have crippled investment, damaged sovereign risk, and failed to bring on new gas supply.

In its communique, the Council gave authority to the Energy Market Operator (AEMO) to review the gas market, and explore options for expanded AEMO market powers. The Coalition has expressed its concern that the Government’s failure to provide more detail on its plan to give AEMO expanded powers will see further uncertainty for investment in Australia to extract natural gas.

Shadow Minister for Resources, Senator Susan McDonald, said that it was embarrassing that the only action item out of today’s meeting was that the Government commissioned yet another review into their gas crisis, not due until March next year.

“Labor’s inability to make a decision culminates in review after review, with no tangible actions to address any crisis they face,” Senator McDonald said.

“Despite receiving at least six publicly-available Government reports on the gas market this year – excluding any private briefings they receive – they appear to still not understand the imminent crisis on our doorstep.

“Australia is blessed with abundant reserves of gas, and up until now, we have never had to import gas.

“It is important to recognise that this is not an Australian gas problem, it is a Victorian problem, driven by the Victorian Labor Government’s unwillingness to invest in gas development.

“Further, the most recent gas project to come online, Senex’s Atlas project, is a 100 per cent domestic project; the Queensland Government has recognised the importance of domestic gas and is approving new projects.

“Labor attempted to herald the release of their Future Gas Strategy as the roadmap to averting gas shortages, yet it is apparently already out of date the same year it was released.

“The activists in the Labor Environmental Action Network are forcing the Prime Minister to sacrifice the need for affordable, reliable energy on the altar of climate action.

“Further, last week’s dirty deal with the Greens political party specifically blocked any investment in gas under the Future Made in Australia legislation.

“When power prices skyrocket, you can’t turn your aircon on, and the lights go out, the public can only thank the Prime Minister for his weak leadership on energy policy.”

ENDS