How did Australia stuff up with exporting all our gas?

http://www.abc.net.au/news/2017-03-20/ian-verrender-how-the-free-market-failed-australia/8368032

Free market forces have allowed the multi-national gas exporters to treat all Australian Govts as fools, with the notable exception of the WA Govt, that did put in place a 15% reservation for local consumption. 

I am sure Norway had much better politicians managing their oil boom in the 1970s and 1980s,  when they set up sovereign funds and legislation to plan for the future and think about the nations long term needs. 

Meanwhile the free marketeers in Australia stood by and cheered as all that gas was exported, with no taxation, and vast profits for the multi-nationals extracting our gas!


John Young
21-mar-2017

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