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> Australia is making noise about keeping more of its gas reserves to itself or off the board altogether (fossil fuel aversion), and that energy decisions take

> Australia is making noise about keeping more of its gas reserves to itself or off the board altogether (fossil fuel aversion), and that energy decisions take timeframes of five to ten years to swing about. I don't think this is about not wanting to sell abroad for climatic reasons, I think it's solely down to the east coast of Australia having to buy gas at spot pricing because their entire production is sold into the gas market instead of having a percentage reserved for domestic use at lower rates, like we do out here in WA.

defrost 4y ago
That's a good distinction to make, like yourself I'm from WA and as native Aussies we're a bit more across the details than most of HN. For the East coast it's all about having a cap on gas prices and a local set aside. For outside capital companies like the Japanese gas investors, from their PoV, it's about uncertainity and reduced profits. They want to buy in at fixed capital costs and in return have a product they can take home (home ground security) and ship about to maximise profits (especially during a war fueled energy hungry period). With our selfish demands of local resources for local markets at local shop prices coupled with political rumblings that come wih a change of Federal party that (however feasibly) foreshadow a possible greener Australia (hmmm, right?) ... well. That's enough to have others in the energy pool hedge their bets a little and seek diversity in sourcing, it takes a long time to get new sources and it's no fun running low on energy.