Statement from James Pearson:
The ACCC has hit the nail on the head – the East coast gas situation is serious and business has been pointing this out for some time.
Lifting blanket exploration bans and removing gas moratoria is a necessary longer term solution.
Gas is just one part of the equation. Business demands a holistic and coherent approach to the energy crisis. Policy makers and business need to find ways for industry’s short term needs to be met, and provide long term certainty for the entire supply chain.
The ACCC is doing its part by quantifying the problems and considering solutions. Its findings echo what we are hearing every day, that businesses are deferring investment and considering moving operations offshore because of high energy prices. The energy crisis is real, is upon us now, and is a threat to jobs and wages.