Federal Minister for Industry and Science Ed Husic says a tax on national gas reserves and extraordinary profits should be seen as a means of tackling the ongoing gas crisis.
said Husic RN Breakfast Host Patricia Karvelas was “absolutely upset” with the gas companies and said the government should send a signal that companies could no longer place the burden of the crisis on the public and the national economy.
Minister of Industry and Science Ed HusicCredits: Alex Ellinghausen
“I have a lot of sympathy for the general public’s opinion that these are Australian resources that should be available for use by households,” he said.
“If we’re shipping from some of our ports seven times the level of supply that the Australian market uses in a year, it’s not a supply problem here. It’s not a problem that we don’t have gas. It’s the supply that is available locally at a price that works for the industry “.
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Husic said the situation was putting pressure on companies and manufacturers, who struggled to block contracts for more than two or three years.
“If interest rates fell and banks held back and did not pass on interest rate cuts to the community at large, one of the arguments we would make is that this is having an impact on the business environment for many “And we would be putting pressure on the banks to play ball,” he said.
“I think we’re in a similar territory here with gas companies, and I think they need to recognize the existing social license.”
Husic said it was essential for the government to reform the “gas activation” system to respond to price problems and supply shortages. He called for greater involvement of states and territories in resolving the crisis.
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He said gas would continue to play an important role in keeping Australia’s industry afloat in the medium term, as technology was not advancing fast enough to replace the use of fossil fuels with alternative forms of energy such as hydrogen. short term.
“Being able to find other sources of gas in the meantime will be important … while we are still aware that we want to reach zero net,” he said.