âThis will wipe us outâ: Gas users in crisis
Jul 16, 2021 â 2.00pm
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Family-owned Causmag International is still paying off bank loans taken out last time east coast gas prices soared. Now the renewed spike in spot prices is threatening to push the manufacturer in regional NSW â plus thousands of others â over the edge.
âThis will completely wipe us out because we are obliged to pay what we use and once we get our invoices we have to pay these amounts,â says Aditya Jhunjhunwala, a director and member of the family that owns the maker of magnesium products in Young in the Riverina region.
‘Nothing effective is being done’: Business warns PM’s cheap gas push is falling short
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Australian manufacturers are warning the federal government is failing to deliver on its promise of a “gas-fired” recovery from COVID-19 as rising prices of the fossil fuel on the east coast put factories and jobs at risk.
Business and union leaders are demanding urgent market intervention in the hope of limiting further pain, including lobbying Canberra to quarantine an amount of gas supply that cannot be sold as exports.
Nothing effective is being done : Business warns PM s cheap gas push is falling short smh.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from smh.com.au Daily Mail and Mail on Sunday newspapers.
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It’s foreign-owned and sure ain’t working for Australia’s national interest:
Scott Morrison has been urged to “pull the trigger’’ on capping gas exports by the powerful Australian Workers’ Union and a leading employer group, as a spike in prices threatens plans to expand the nation’s manufacturing capacity.
AWU national secretary Daniel Walton said the Prime Minister would be “stomping the green shoots of Australia’s potential manufacturing comeback” if he refused to restrict LNG exports to Asia, with wholesale gas prices more than doubling in the past month in Sydney, Melbourne and Adelaide.
Australia s LNG exporters test waters for blue hydrogen amid wider energy transition hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.