Our Energy Resources Policy !

There is something intrinsically wrong when we are told the good news that by 2020 Australia will be the worlds biggest exporter of liquefied natural gas  ( LNG ) and at the same time the incredibly bad news that we may suffer blackouts in the eastern states because of a gas shortage to run our electricity generators !

Not only a gas shortage afflicting the power industry, but even a doubt over the gas people use in their homes to cook daily meals and heat water for bathing.  Our industries are also worried. Gas is an essential to the production of goods in many factories and if that is in short supply there is a very obvious threat to employment.

Fortunately, it seems that this crisis has been overcome.  The prime minister summonsed the head honchos of the gas industry to face him in Canberra and a deal has been struck.  We will not lack the gas for either the power generators or for the internal market, but that was not in the form of a legal document that is binding.   It was in the form of a " gentleman's agreement " sealed by the shaking of hands.

Of course the government has at its disposal the awesome power of legislation to enforce its will if the gas industry chose to renege on the agreement, but there remains another obstacle to the public access to one of our greatest natural resources.   It looks like we will have to pay the world price for what comes out of the ground in our own country.

It is certainly true that the gas exporting companies have invested some sixty billion dollars in building the facilities to extract, store and ship LNG to world markets, but this is something that belongs to every man, woman and child in Australia - and it is a finite product that will eventually be exhausted.

It would be reasonable to expect that we have a policy in place to cover all existing and future natural resources and that our national needs are reserved at the head of the list for supply, and that they be subject to a discounted price as a reward fort allowing others to exploit their potential.

It is a national disgrace that as we near becoming the worlds greatest exporters of LNG we are receiving only a fraction of the price reward flowing to other natural gas exporting hubs in the Middle East.   When the contracts were signed, we obviously did not appreciate how LNG would rival oil as a preferred energy source because of its lower polluting capacity.

That should be a lesson learned.  The development of the computer, mobile phones, space exploration and a host of other endeavours has expanded the number of minerals used in industry and more will find favour in the future.   Many of those will be found here in Australia and we should have a policy in place to control and administer their world supply for our national advantage.

Right now our gas needs seem to being brought under some sort of control but an ever growing world population means many resources will come under supply and price pressure.   We have an entire continent at our disposal.   We should ensure that our own needs receive priority !