The Federal Government’s attempt to lower gas prices ignores deeper problems concerning the rising cost of electricity and comes at a time when, despite a manufactured domestic gas shortfall, new gas reserves are increasing in Australia and a world liquefied natural gas (LNG) glut is occurring.
The BP Statistical Review of World Energy 2017 shows that total proved natural gas reserves in Australia increased from 1.3 trillion cubic metres (TCM) in 1996 to 2.3 TCM in 2…
