World-renowned climate analyst and Senior Research Fellow at The Australia Institute, Ketan Joshi, has crunched the numbers and found that, despite claims of a shortage or crisis, Victoria is, in fact, a net exporter of gas.
Data from the Department of Climate Change, Energy, the Environment and Water clearly shows that gas consumption has been declining in Victoria for years, which has led to an oversupply. It's being driven by soaring gas prices (caused by exports) and legislation forcing Victorians to electrify their homes at a faster rate than any other state.
"Victoria exports way more gas than it consumes," said Ketan Joshi, Senior Research Fellow at The Australia Institute.
"The Australia Institute recently produced a video of a massive gas drilling rig near the iconic 12 Apostles. Projects like this simply don't make sense. They are unnecessary.
"Despite all the breathless claims of a gas shortage in Victoria, federal government data shows the true picture, that there is an oversupply.
"To top it off, demand for gas in Victoria is at its lowest level in a generation – and falling – as high prices and regulations force people to electrify their homes.
"The last time gas use was this low in Victoria, Dirty Dancing was in the cinema and Rick Astley cassette tapes were selling like hot cakes."
