Manufacturing’s last gasp inhales toxic gas

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For anybody who has followed this debate for any length of time, this is as depressing as it is typical from The SMH.

Chief executives of 10 major manufacturers have decried the “broken” state of Australia’s gas market, telling the Albanese government it must force a significant reduction in gas prices and limit exports of the fuel to keep factories open and household bills steady.

…The government has begun a sweeping review to ensure the rules requiring gas exporters to keep the local market well supplied are delivering “as intended”. For the first time, two of Queensland’s three liquefied natural gas (LNG) producers have signalled they are open to Western Australia-style “reservation” rules requiring them to hold back a prescribed volume for the local market only – a proposal that the manufacturing sector has been advocating for years.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.