Albo readies useless gas reservation policy

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The ABC’s Ian Verrender neatly summarised the forms of East Coast gas reservation being considered by the Albanese government as it attempts to overcome a pending supply shortfall:

Those in the know say the federal government is considering two options. The first option is that each of the exporters must supply a certain quantity of gas to Australians. The second is similar but puts the responsibility for supply on the entire industry.

Both have their shortcomings but the first would be easier to implement…

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.