March 9, 2017 Read More →

Awash in Natural Gas, Australia Has a ‘Shortage’

News.com.au:

There are warnings today our gas supply could soon fall short, forcing Aussies to swelter through summer. But an expert says it’s “a total failure” we’re in this position.

The idea of a shortage in Australia — the largest gas exporter in the world — is an “absurdity”, according to energy analyst Bruce Robertson of the Institute for Energy Economics and Financial Analysis.

“We are swimming in gas, the idea that we cannot provide for our own population is just a total failure of our energy policy,” Mr Robertson told news.com.au.

The Australian Energy Market Operator on Thursday warned of future power supply shortfalls, which could cause blackouts in South Australia, NSW and Victoria unless gas production is boosted and supplied to electricity generators.

Prime Minister Malcolm Turnbull will hold meetings with the chief executives of east coast gas companies soon to address what he’s labelled as an “energy crisis”, laying the blame on state governments for not allowing the development of gas resources.

“We are facing an energy crisis in Australia because of these restrictions on gas,” he said in Sydney on Thursday.

But Mr Robertson disagreed and said the problems Australia was facing were due to companies sitting on gas reserves and not releasing enough of their product.

The ‘absurdity’ of Australia facing a gas shortage

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