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Shell Australia chairman Andrew Smith. Photo: Attila Csaszar

Maximising gas potential

Debate continues over the best way to maximise returns from the state’s rapidly growing oil and gas sector.

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Duncraig
Maximising gas potential is in a real sense all about "profiteering" - nothing more and nothing less. Gas prices in Australia are 4plus times greater than in the USA, where shale gas is being produced and sold. Given the substantial extent of the US reserves, shale gas will be exported around the World, at prices well below that for which gas will be sold in Australia - both on a wholesale and retail basis. It is difficult to imagine that Australian gas will be exported from Australia because of inflated prices, but in a practical sense it is likely to be sold at prices below that which Australian consumers would be expected to pay. Common sense must come into play and Governments must take the lead in controlling gas prices to ensure Australian consumers are not being ripped off! Allan Read The retail price of gas in Australia is high and the producers of gas sales will be simply profiteering and consumers will be paying the price. Future prices are likely to be well outside reasonable levels and Federal and State Governments must work together to ensure that consumers are able to access gas at affordable prices - control on gas prices to-date in Australia have been totally ineffective! The industry must accept that controls are necessary so that consumers can access gas for heating and cooking - Commercial users are a different market and prices can be set accordingly.

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