Here we have the absolutely stupid government policy of gas supply as a few big multinational companies continue to pump and export gas owned by Australia abroad using energy from said gas sufficient to support Australia's need in order to liquefy it for export.
And exporters of course are making massive profits most of which don't even hit Australian shores, thanks to high international demand and prices.
Australia does not have a physical shortage of gas as much as an artificial one given that most of the country's supplies are exported via long-term contracts to lucrative markets in North Asia.
AEMO is forecasting that within just a few short years supplies of gas on the East Coast could fall well short of demand at peak times typically in the winter.
So for now for the first time time and in spite of Australia's position as one of the world's biggest gas exporters the country is preparing to do something that was once unthinkable is building a one billion dollar terminal to import liquefied natural gas or LNG. This is nuts!
