Resources Minister Madeleine King has warned that decreasing gas supply faster than demand will lead to “shortages, supply disruptions and high prices”, while also “worsening poverty and inequality”. Source: The Australian.
The Albanese Government will today release a discussion paper on its future gas strategy.
Ms King said the Government’s future gas strategy would provide the “long-term policy clarity needed to support decisions across communities, industry and governments”, while also helping households make decisions about using gas.
As Labor faces pressure from the Greens and environmental groups to ban new gas developments, Ms King said the resource would play an evolving role as a transitional energy source as the world decarbonised.
But she said Australia would face a key challenge in getting the balance right at home, warning that reducing supply too quickly would penalise the nation’s most vulnerable.
“We need to ensure gas demand decreases faster than supply through the energy transition,” Ms King said. “Gas shortages, supply disruptions and high prices are among the consequences of reducing supply faster than demand.
“These consequences disproportionately impact those who can least afford them, worsening poverty and inequality.”
Cut gas supply and fuel poverty, says Resources Minister Madeleine King (By Joe Kelly and Patrick Commins, The Australian)