Productivity Commission: red tape and market intervention threaten gas benefits

Recent articles

Tweets

7 December 21, 11:40am A new report from @FrontierEcon finds more natural gas is needed in electricity generation to support growing renew… https://t.co/wkv2lQjg68
array(24) { ["created_at"]=> string(30) "Tue Dec 07 01:40:41 +0000 2021" ["id"]=> int(1468032683808677889) ["id_str"]=> string(19) "1468032683808677889" ["text"]=> string(259) "A new report from @FrontierEcon finds more natural gas is needed in electricity generation to support growing renew… https://t.co/wkv2lQjg68" ["truncated"]=> bool(true) ["entities"]=> array(4) { ["hashtags"]=> array(0) { } ["symbols"]=> array(0) { } ["user_mentions"]=> array(1) { [0]=> array(5) { ["screen_name"]=> string(12) "FrontierEcon" ["name"]=> string(18) "Frontier Economics" ["id"]=> int(234700592) ["id_str"]=> string(9) "234700592" ["indices"]=> array(2) { [0]=> int(18) [1]=> int(31) } } } ["urls"]=> array(1) { [0]=> array(4) { ["url"]=> string(23) "https://t.co/wkv2lQjg68" ["expanded_url"]=> string(52) "https://twitter.com/i/web/status/1468032683808677889" ["display_url"]=> string(29) "twitter.com/i/web/status/1…" ["indices"]=> array(2) { [0]=> int(117) [1]=> int(140) } } } } ["source"]=> string(71) "Twitter Web App" ["in_reply_to_status_id"]=> NULL ["in_reply_to_status_id_str"]=> NULL ["in_reply_to_user_id"]=> NULL ["in_reply_to_user_id_str"]=> NULL ["in_reply_to_screen_name"]=> NULL ["user"]=> string(8) "APPEALtd" ["geo"]=> NULL ["coordinates"]=> NULL ["place"]=> NULL ["contributors"]=> NULL ["is_quote_status"]=> bool(false) ["retweet_count"]=> int(0) ["favorite_count"]=> int(2) ["favorited"]=> bool(false) ["retweeted"]=> bool(false) ["possibly_sensitive"]=> bool(false) ["lang"]=> string(2) "en" }
by APPEALtd
6 December 21, 4:28pm Today's government announcement of five new areas marked for #GHG storage opportunities represents another signific… https://t.co/OPt8jG1wVm
array(24) { ["created_at"]=> string(30) "Mon Dec 06 06:28:08 +0000 2021" ["id"]=> int(1467742634978398214) ["id_str"]=> string(19) "1467742634978398214" ["text"]=> string(262) "Today's government announcement of five new areas marked for #GHG storage opportunities represents another signific… https://t.co/OPt8jG1wVm" ["truncated"]=> bool(true) ["entities"]=> array(4) { ["hashtags"]=> array(1) { [0]=> array(2) { ["text"]=> string(3) "GHG" ["indices"]=> array(2) { [0]=> int(61) [1]=> int(65) } } } ["symbols"]=> array(0) { } ["user_mentions"]=> array(0) { } ["urls"]=> array(1) { [0]=> array(4) { ["url"]=> string(23) "https://t.co/OPt8jG1wVm" ["expanded_url"]=> string(52) "https://twitter.com/i/web/status/1467742634978398214" ["display_url"]=> string(29) "twitter.com/i/web/status/1…" ["indices"]=> array(2) { [0]=> int(117) [1]=> int(140) } } } } ["source"]=> string(71) "Twitter Web App" ["in_reply_to_status_id"]=> NULL ["in_reply_to_status_id_str"]=> NULL ["in_reply_to_user_id"]=> NULL ["in_reply_to_user_id_str"]=> NULL ["in_reply_to_screen_name"]=> NULL ["user"]=> string(8) "APPEALtd" ["geo"]=> NULL ["coordinates"]=> NULL ["place"]=> NULL ["contributors"]=> NULL ["is_quote_status"]=> bool(false) ["retweet_count"]=> int(1) ["favorite_count"]=> int(3) ["favorited"]=> bool(false) ["retweeted"]=> bool(false) ["possibly_sensitive"]=> bool(false) ["lang"]=> string(2) "en" }
by APPEALtd
6 December 21, 11:23am Read the full independent report from @ey_australia on the future of the Western Australian #oilandgas industry her… https://t.co/PZubb66zRO
array(24) { ["created_at"]=> string(30) "Mon Dec 06 01:23:21 +0000 2021" ["id"]=> int(1467665937159520260) ["id_str"]=> string(19) "1467665937159520260" ["text"]=> string(331) "Read the full independent report from @ey_australia on the future of the Western Australian #oilandgas industry her… https://t.co/PZubb66zRO" ["truncated"]=> bool(true) ["entities"]=> array(4) { ["hashtags"]=> array(1) { [0]=> array(2) { ["text"]=> string(9) "oilandgas" ["indices"]=> array(2) { [0]=> int(92) [1]=> int(102) } } } ["symbols"]=> array(0) { } ["user_mentions"]=> array(1) { [0]=> array(5) { ["screen_name"]=> string(12) "EY_Australia" ["name"]=> string(12) "EY Australia" ["id"]=> int(195652305) ["id_str"]=> string(9) "195652305" ["indices"]=> array(2) { [0]=> int(38) [1]=> int(51) } } } ["urls"]=> array(1) { [0]=> array(4) { ["url"]=> string(23) "https://t.co/PZubb66zRO" ["expanded_url"]=> string(52) "https://twitter.com/i/web/status/1467665937159520260" ["display_url"]=> string(29) "twitter.com/i/web/status/1…" ["indices"]=> array(2) { [0]=> int(117) [1]=> int(140) } } } } ["source"]=> string(71) "Twitter Web App" ["in_reply_to_status_id"]=> NULL ["in_reply_to_status_id_str"]=> NULL ["in_reply_to_user_id"]=> NULL ["in_reply_to_user_id_str"]=> NULL ["in_reply_to_screen_name"]=> NULL ["user"]=> string(8) "APPEALtd" ["geo"]=> NULL ["coordinates"]=> NULL ["place"]=> NULL ["contributors"]=> NULL ["is_quote_status"]=> bool(false) ["retweet_count"]=> int(0) ["favorite_count"]=> int(1) ["favorited"]=> bool(false) ["retweeted"]=> bool(false) ["possibly_sensitive"]=> bool(false) ["lang"]=> string(2) "en" }
by APPEALtd
3 December 21, 3:47pm #Labor’s Powering Australia Plan provides some clarity around how the party plans to meet its emissions reduction t… https://t.co/QcGUT7VlH2
array(24) { ["created_at"]=> string(30) "Fri Dec 03 05:47:59 +0000 2021" ["id"]=> int(1466645367844335619) ["id_str"]=> string(19) "1466645367844335619" ["text"]=> string(276) "#Labor’s Powering Australia Plan provides some clarity around how the party plans to meet its emissions reduction t… https://t.co/QcGUT7VlH2" ["truncated"]=> bool(true) ["entities"]=> array(4) { ["hashtags"]=> array(1) { [0]=> array(2) { ["text"]=> string(5) "Labor" ["indices"]=> array(2) { [0]=> int(0) [1]=> int(6) } } } ["symbols"]=> array(0) { } ["user_mentions"]=> array(0) { } ["urls"]=> array(1) { [0]=> array(4) { ["url"]=> string(23) "https://t.co/QcGUT7VlH2" ["expanded_url"]=> string(52) "https://twitter.com/i/web/status/1466645367844335619" ["display_url"]=> string(29) "twitter.com/i/web/status/1…" ["indices"]=> array(2) { [0]=> int(117) [1]=> int(140) } } } } ["source"]=> string(71) "Twitter Web App" ["in_reply_to_status_id"]=> NULL ["in_reply_to_status_id_str"]=> NULL ["in_reply_to_user_id"]=> NULL ["in_reply_to_user_id_str"]=> NULL ["in_reply_to_screen_name"]=> NULL ["user"]=> string(8) "APPEALtd" ["geo"]=> NULL ["coordinates"]=> NULL ["place"]=> NULL ["contributors"]=> NULL ["is_quote_status"]=> bool(false) ["retweet_count"]=> int(0) ["favorite_count"]=> int(3) ["favorited"]=> bool(false) ["retweeted"]=> bool(false) ["possibly_sensitive"]=> bool(false) ["lang"]=> string(2) "en" }
by APPEALtd

Proposals and campaigns for market interventions such as domestic gas reservation should now be withdrawn following the release of a Productivity Commission report, Examining barriers to more efficient gas markets, released today.

The Commission’s key finding – that developing a gas export industry in eastern Australia will deliver a net benefit to the community – is particularly welcome.”

The Commission also found that removing regulatory burdens restricting exploration and production of natural gas, particularly in Victoria and NSW, was the clear pathway to not only allowing the market to work more efficiently and effectively, but also bringing on more gas supply.

The report finds that the scientific evidence suggests that the technical challenges and risks can be managed through a well-designed regulatory regime.

The Productivity Commission’s report can be viewed here.