Pressure is building within the labour movement for an intervention to force down prices.
The agreement stipulates thatmust offer surplus product to the domestic market before finding a foreign buyer. It helped guarantee a supply of gas for the domestic market for next year but does not alleviate prices. It also stipulated the domestic price of gas could not exceed the export price.A spokesman for Ms King defended the deal, saying it was a significant improvement on that done by the previous government.
“The agreement will strengthen confidence in the domestic gas market and safeguard our global reputation as a stable and reliable exporter to our regional partners.”Mr Husic, backed by Mr Walton and the Australian Industry Group, said the deal, while good for supply, did nothing for prices other than ensure they did not blow out further.“But, really, that is an upper level protection. The main aim of the game right now is to drive prices down.
“It’s infuriating that a Labor minister could champion the exact same kind of dud handshake agreement struck by the Turnbull government, especially when the ACCC has since told us that agreement wasn’t worth the paper it was written on,” he said. “You now have CEOs of gas companies coming out and saying they expect it to happen. It should be simple.“The federal government has rightly stated it wants Australia to become a manufacturing powerhouse. Well, there’s zero chance of that happening while it maintains this current stance on gas.”“The minister has always been supportive of the AWU and the work it does to represent members and workers in the gas industry,” he said.
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