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Gas price explosion - corporate greed


Economists are predicting that Australia will be the world's biggest exporter of LNG by 2018, overtaking Qatar's production. Instead of being able to enjoy prosperity and the economic benefits, consumers and manufacturing industries will be held hostage to the multi-national mining giants' demands.

Gas producers in the eastern states were once devoted to supplying domestic buyers, but now they are now chasing export dollars. Until very recently, gas extracted in Australia stayed in Australia. Because our nation has abundant natural gas reserves, it meant our gas prices have stayed low by global standards. 

The loss of insulated prices will mean we are forced to compete with buyers across Asia who prepared to pay top prices.

The Golden Age of Gas - and higher prices


NSW households are set to be slugged with an increase of up to $225 a year on their gas bills as of July 1.  Australia is rich in gas. The reason is that gas is being exported, so it means a "shortage" of east coast supplies.

Australia will triple its gas production in the next few years as key gas projects in Queensland ramp up production. Despite production going up, domestic prices are set to increase as well. The Consumer Utility Advocacy Centre's Martin Jones says it is part of the globalisation of the economy.

The Golden Age of Gas - and price increases

NSW households are set to be slugged with an increase of up to $225 a year on their gas bills as of July 1.  Australia is rich in gas. The reason is that gas is being exported, so it means a "shortage" of east coast supplies.

Australia will triple its gas production in the next few years as key gas projects in Queensland ramp up production. Despite production going up, domestic prices are set to increase as well. The Consumer Utility Advocacy Centre's Martin Jones says it is part of the globalisation of the economy.

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