The Greens have said the gas market review must prevent gas companies like Santos from exploiting loopholes in the Australian market to meet their over-ambitious export contracts.
Otherwise, the review announced yesterday risks doubling down on fossil fuel dependence and undermining Australia's climate goals by encouraging the creation of new supply instead of phasing out exports and reducing gas demand.
According to information provided by the ACCC to the Greens, Australia could save 1,452 petajoules of gas over the next decade, enough to cover domestic shortfalls without opening a single new gas field, if it stopped gas exporters from draining the domestic market.
As stated by Australian Greens acting leader, Senator Sarah Hanson-Young:
"Massive gas corporations are exploiting loopholes to make massive profits off Australia's gas. They get most of most of the gas for free, pay barely any tax, and ship it overseas for massive profits - and you're funding their greed with every energy bill," Hanson-Young said.
"This gas review needs to make the big polluters' profiteering illegal, not reward the bad behaviour of the greedy gas corporations by opening new gas fields.
"With NSW currently being battered by severe storms, we're in the grips of yet another extreme weather event made worse by coal and gas. This review isn't an academic exercise - it has massive implications for people's lives and the climate.
"Every new coal and gas mine makes global heating worse, and we need to be moving off expensive, dirty gas faster than we are. The Australian Greens will push to stop greedy gas corporations from profiting off people's power bill pain."
As stated by Australian Greens resources spokesperson, Senator Steph Hodgins-May:
"The Government can't reward the gas lobby's conduct and shift the cost to everyday Australians, who will pay higher energy bills and higher insurance prices from more intense and frequent floods and fires caused by fossil fuels.
"We don't need any new gas fields, we need to stop gas exporters like Santos robbing gas from the domestic market to sell overseas, pushing up prices for Australian households and industry.
"If the government helps homes and businesses electrify and we pass laws to stop these gas thieves in their tracks, we can transition to net zero without a single new gas mine.
"Our kids deserve a safe climate future. As we head back to parliament, the Greens will be firm, constructive and unrelenting in our push for real climate action."
