There is good news for manufacturers and industrial users in the latest report on natural gas pricing – but householders in Victoria and NSW may feel they are missing out.
Historically, state governments are upbeat if they sense a potential development project that could employ people and lower prices for a widely used commodity – especially if private enterprise is willing to take the risk and pay for that development.
It is indicative of the ‘who cares’ policy approach of the New South Wales Greens that they now want the State’s only natural gas supply shut down.
Victoria’s irrational ban on natural gas development was the focus of some sobering comment from leaders in manufacturing this week – including one of Victoria’s biggest business dynasties.
Power prices are at the centre of political debate this week, with retail practices coming under scrutiny. But there is a bigger picture which many in office in the State Governments – particularly Victoria.
Australia’s longest operating oil and gas explorer, Lakes Oil, is suing the Victorian Government because of the economic value which has been destroyed by the Government’s irrational ban on onshore development.