CANBERRA, March 1 (Xinhua) -- Exporting most of Australia's gas has led to higher prices for Australian households and businesses, said the Australia Institute, which applauds the government's recent commitment to prioritize supply to the domestic market.

"The more gas they export, the faster Australia's gas reserves run out, the higher the energy bills for Australian households and businesses," said Richard Denniss, executive director at the Australia Institute.

"There is a simple, obvious, fool-proof way to ensure a sufficient gas supply and low prices for Australians, and that is to cap exports," Denniss said.

Australia is one of the largest exporters of gas in the world. There is no shortage of gas in Australia, as highlighted in the government's recent statements, according to the Australia Institute.

Multinational gas export corporations already export 80 percent of Australia's gas and control almost all of Australia's gas reserves, it said, adding gas exports are hurting Australians.

"Predominantly foreign-owned gas corporations export 80 percent of Australia's gas. This includes 70 percent of gas from the eastern states, 90 percent of gas on the west coast and almost 100 percent of gas from the Northern Territory," the institute said.

"These companies receive 56 percent of the gas they export royalty-free and have never paid Petroleum Resource Rent Tax," it said. Enditem

Related

Go to Forum >>0 Comment(s)