Vic How would you rate Daniel Andrews' performance as Victorian Premier? - Part 7

[Kwality]

Victoria's largest gas producer is warning its supplies are rapidly decreasing

Gas giant ExxonMobil says the number of wells it operates in the Bass Strait could close to halve in the next eighteen months. But an expert says gas shortages can be avoided with the right policies.

www.abc.net.au

'Premier Andrews said Victoria exports 70 per cent of the gas it produces.
He called for a national domestic gas reserve to be established, to ensure gas was supplied to local households and businesses as a priority.'


We all know the east coast power **** up is due to the failure of State Governments of both colours, to follow the lead of the WA (ALP) State Government to provide a gas reservation for its residents (WA industry addicted to cheap gas - Grattan Institute )

Blaming the Feds has been a strategic bonanza for Dan when the LNP reigned in Canberra.

 

[adogsfan5]

Victoria's largest gas producer is warning its supplies are rapidly decreasing

Gas giant ExxonMobil says the number of wells it operates in the Bass Strait could close to halve in the next eighteen months. But an expert says gas shortages can be avoided with the right policies.

www.abc.net.au

'Premier Andrews said Victoria exports 70 per cent of the gas it produces.
He called for a national domestic gas reserve to be established, to ensure gas was supplied to local households and businesses as a priority.'


We all know the east coast power utensil up is due to the failure of State Governments of both colours, to follow the lead of the WA (ALP) State Government to provide a gas reservation for its residents (WA industry addicted to cheap gas - Grattan Institute )

Blaming the Feds has been a strategic bonanza for Dan when the LNP reigned in Canberra.

70%..

W T A F!?

 

[HurleyHepsHird]

70%..

W T A F!?

I have no doubt it's equal to or more in most states.

Only WA has a reserve, which is a huge mistake and always has been.

 

[Saint]

70%..

W T A F!?

Exxon Mobil were slow-releasing gas into the network, as when it wasn't exportable, they could only supply to meet demand and keep the price up.

Now that it's exportable, they're pumping it out as quickly as possible, which is why all these energy companies are making noises about opening more gas fields. So they can sell it overseas. There's absolutely no shortage of gas in Australia, these companies just want to export lots more of it.

 

[Saint]

I have no doubt it's equal to or more in most states.

Only WA has a reserve, which is a huge mistake and always has been.

Mistake? Because it kept their prices down, compared to the rest of Australia where prices have doubled or tripled?

 

[HurleyHepsHird]

Exxon Mobil were slow-releasing gas into the network, as when it wasn't exportable, they could only supply to meet demand and keep the price up.

Now that it's exportable, they're pumping it out as quickly as possible, which is why all these energy companies are making noises about opening more gas fields. So they can sell it overseas. There's absolutely no shortage of gas in Australia, these companies just want to export lots more of it.

Correct, as has been noted we have adequate supply unless the companies indulge in ****ery.

 

[HurleyHepsHird]

Mistake? Because it kept their prices down, compared to the rest of Australia where prices have doubled or tripled?

No, sorry, poor phrasing, it's a mistake that ONLY they have one.

 

[adogsfan5]

I have no doubt it's equal to or more in most states.

Only WA has a reserve, which is a huge mistake and always has been.

That figure staggers me and that the rest of us don’t have a reserve.. what the eff happened there?!

 

[adogsfan5]

Exxon Mobil were slow-releasing gas into the network, as when it wasn't exportable, they could only supply to meet demand and keep the price up.

Now that it's exportable, they're pumping it out as quickly as possible, which is why all these energy companies are making noises about opening more gas fields. So they can sell it overseas. There's absolutely no shortage of gas in Australia, these companies just want to export lots more of it.

Greedy fuc**rs!!!

 

[peetoo]

It could make our manufacturing more competitive too

When does the population become big enough to make it more profitable to make more here, export less, import less

 

[Kwality]

That figure staggers me and that the rest of us don’t have a reserve.. what the eff happened there?!

State Governments asleep at the wheel.

 

[Kwality]

It could make our manufacturing more competitive too

When does the population become big enough to make it more profitable to make more here, export less, import less

Australia is still exporting jobs, e.g live sheep trade.

We are a small market, off major shipping routes, so freight is a big issue. No problem when you export in specialist bulk (minerals) vessels.

 

[HurleyHepsHird]

State Governments asleep at the wheel.

Do they have full remit over offshore gas?

I thought the issue with Victoria creating a reserve all on its own is that there are no conventional onshore gas wells or reserves yet to be exploited.

So it would require allowing fracking and since most known reserves that would be accessible to fracking are within arable land, or near water sources, it's a non starter.

Victoria is a small state, we have city+exurbs which already encroach on farmland, then farmland, then natural parks.

A moratorium or ban on fracking is practical, not just politics.

 

[Kwality]

Do they have full remit over offshore gas?

I thought the issue with Victoria creating a reserve all on its own is that there are no conventional onshore gas wells or reserves yet to be exploited.

So it would require allowing fracking and since most known reserves that would be accessible to fracking are within arable land, or near water sources, it's a non starter.

Victoria is a small state, we have city+exurbs which already encroach on farmland, then farmland, then natural parks.

A moratorium or ban on fracking is practical, not just politics.

Are you trying to compare Bass Strait with the North West Shelf ?

 

[Crankyhawk]

Do they have full remit over offshore gas?

I thought the issue with Victoria creating a reserve all on its own is that there are no conventional onshore gas wells or reserves yet to be exploited.

So it would require allowing fracking and since most known reserves that would be accessible to fracking are within arable land, or near water sources, it's a non starter.

Victoria is a small state, we have city+exurbs which already encroach on farmland, then farmland, then natural parks.

A moratorium or ban on fracking is practical, not just politics.

Or we seize assets of multinational companies and tell them to go **** themselves. Can only be done once.

 

[adogsfan5]

This is due to a byproduct of the mining industry in WA that can support a domestic use which means a reserve is possible.

We can’t. Our gas exploration is viable based on exporting gas. A reserve would smash these projects and make gas more expensive for consumers as we would need to fund the exploration ourselves.

That’s why a gas reserve can’t happen. It’s good policy, not policy failure.

Yeah look, I don’t know much about it.. thanks for the insight though!

70% being exported was the figure that shocked me, especially when we’re told there’s going to be potential shortages.

 

[Ghost Patrol]

The gas markets are a balance between export and domestic use.

Our gas prices never reach international prices cause the players know an intervention or quasi reserve will happen. It’s like a continual soft regulation.

Shortages won’t happen for the same reason. They envision a scenario where there is no government intervention but everyone knows it would happen if it actually occurred, so there is a like an inherent buffer.

The biggest user of gas in Australia is the gas industry itself.

It's a scam. They are parasites.

 

[Kwality]

Or we seize assets of multinational companies and tell them to go * themselves. Can only be done once.

Can it be done only once ? Why is that?

 

[Kwality]

The gas markets are a balance between export and domestic use.

Our gas prices never reach international prices cause the players know an intervention or quasi reserve will happen. It’s like a continual soft regulation.

Shortages won’t happen for the same reason. They envision a scenario where there is no government intervention but everyone knows it would happen if it actually occurred, so there is a like an inherent buffer.

Points to the utter FAIL of the east coast State Governments to follow the lead of WA in 2006.

The only thing that has changed is the colour of the Federal Government. Its no longer convenient to mindlessly blame the Feds.

 

[Ghost Patrol]

Can it be done only once ? Why is that?

I suppose you could sell it all back to another multinational, then seize it again.

Win/win.

 

[Kwality]

This is due to a byproduct of the mining industry in WA that can support a domestic use which means a reserve is possible.

We can’t. Our gas exploration is viable based on exporting gas. A reserve would smash these projects and make gas more expensive for consumers as we would need to fund the exploration ourselves.

That’s why a gas reserve can’t happen. It’s good policy, not policy failure.

What arrant nonsense.

 

[Kwality]

Don’t know why you keep saying it’s a state government problem when the east coast energy markets are inter connected and will become more connected in future.
We need a comprehensive federal policy, which we didn’t get for 20 years.

You want the Feds to intervene to deny the failure of the State Governments.
Its not up to the Feds, WA acted without the support of the Feds ( Howard opposed it).

 

[Kwality]

So you think private gas exploration is possible based only on supplying the domestic market? If we create a reserve we will be finding the exploration of these businesses. Taxpayers will pay regardless.

I have seen your energy policy posts and you clearly have no idea.

I don’t think the state governments are blameless though. Promoting residential gas use and then doing a 180 and stopping gas connections will be costly. Solar panel rebates were also way too generous early on which also impacted consumers.

However large infrastructure energy policy has been lacking for a while and no state government could or should fund that. To get the best outcome it needs a coordinated approach.

'So I think' you say & then try to make your words mine.

WA set a reserve & with the Perth Basin coming on line (via the existing APA Parmelia pipeline) in weeks (not years) WA residents will continue to benefit from forward thinking from 20 years ago (not by the Feds).
On the east coast exactly the opposite is happening, see Bass Strait (South-east Australia risks temporary gas shortages by 2023 winter, energy review warns.)

IF you would like to understand the long term planning & financing of a venture as big as the North West Shelf, you could start here:

Born in Fire - the Discovery and Development of Australia’s North West Shelf Natural Gas Resources | Royal Western Australian Historical Society

www.histwest.org.au

 

[Kwality]

There are pluses and minuses to interventions.

You seem to think intervene and there are no repercussions. There are repercussions and doing a reserve would cost more.

Soft regulation is working. Our energy prices are still relative cheap. We just needed a comprehensive plan for the energy transition at a federal level.

The states acting unilaterally would only lead to worst outcomes for consumers.

You mean the east coast, not nationally, when 'doing a reserve' ?

 

[Crankyhawk]

Can it be done only once ? Why is that?

well because then no multinational will come near your country.