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Gas reservation, such as it is, has finally arrived.
A plan to ease power bills by pumping the Australian energy market with an oversupply of gas will now likely become law despite lingering concerns from industry and environmentalists.
Labor’s domestic gas reservation scheme will force producers to set aside 20 per cent of their annual exports for Australian consumers, giving the country’s market a modest oversupply.
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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.
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