An energy-intensive recycling plant in South Australia announced it would shut down this week, crippled by skyrocketing power prices.
Australia urgently needs more natural gas supplies. This has been confirmed by the gas industry, manufacturers, the Federal Government, the Australian Consumer and Competition Council and in the recently published Finkel Review of Australia’s energy needs.
Barrow Island, 60km of the coast of Western Australia, is set to be the location of the world’s most ambitious operation to permanently dispose of carbon waste underground.
Queensland Premier Anastacia Palaszczuk grabbed for the political high ground following last week’s Commonwealth announcement of its intention to proceed with LNG export caps if there is a shortage of natural gas on Australia’s East Coast.
The days of activist groups masquerading as environmental organisations in order to claim tax benefits may be numbered, with the Federal Government seeking feedback on key aspects of the Register of Environmental Organisations.
A long-standing Victorian methanol plant is the latest to shut up shop and move to the United States of America, where gas is cheaper and supply more certain.
The Queensland Government reaction to the Finkel Review of Australia’s energy policy was to assess it as putting the burden on Queensland – and that the sunshine and resources State was up to the challenge.
As the Commonwealth contemplates a gas export restriction, Government advisers would be wise to consider the example of Argentina to understand the risks of severe unintended consequences.
The final report of the Finkel Review into the stability and security of the National Electricity Market has confirmed what the gas industry has been saying for years, and in doing say has punctured the indignant and increasingly shrill claims of activist groups.