Tensions between the Albanese government and major gas exporters escalated today. The Industry Minister blamed the current gas price crisis on “a glut of greed” by the industry. The government is weighing dramatic intervention to force prices down. #abc730 #auspol
.@David_Speers interviews Samantha McCulloch, chief executive of the Australian Petroleum Production & Exploration Association, which represents gas producers. #abc730
“What we're seeing is high energy prices across the globe. This is the result of a global energy crisis triggered by Russia's invasion of Ukraine. It's affecting all energy sources, and it's affecting all countries.” – Sarah McCulloch, CEO of @APPEALtd. #abc730
“We're seeing very strong demand for gas domestically, this has been driven by a critical role that gas is playing, particularly in the electricity sector. Gas is increasingly being called on to fill the void when renewables are not available.” – Sarah McCulloch, @APPEALtd
“Bringing on new supply is the key to putting sustained downward pressure on price.” – Sarah McCulloch, CEO of @APPEALtd. #abc730
“Gas price caps would have a chilling effect on new investment. It will undermine investment confidence in new supply. It'll actually increase demand while creating structural shortages in supply, which just creates further difficulties and problems.” – Sarah McColloch, @APPEALtd
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