By Dr Liam Wagner, Griffith Business School
The 2017 Federal Budget includes incentives for development of more gas supplies via pipeline construction. However, a focus on LNG exports only diverts the energy policy debate away from the transmission infrastructure crisis highlighted by the summer blackouts.
Overview
Australia has a gas crisis like no other point in its history, one of inaction. Natural gas has become the fool’s gold of 21st century Australia. The prospect of becoming one of the largest exporters in the world of Liquefied Natural Gas (LNG) was all too great a temptation for the state and federal governments.
The national interest tests placed on the foreign export of any resource are simply not effective at lowering the price of natural gas once international linkage has been achieved.
The only strategy available to the federal government is to increase supply, hoping this will ease domestic constraints. However, natural gas contract prices won’t be
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