KAP member for Mt Isa Rob Katter has today called for the immediate introduction of a gas reserve policy in Queensland following the Palaszczuk Government’s announced review into the petroleum and gas industry.
Mr Katter said with supply expected to be under pressure as explosives and fertiliser producer Incitec Pivot has suggested, Queensland should move quickly to reserve a set percentage of its gas supply for domestic use.
“Through a gas reserve policy we can ensure the Queensland industry has access to competitively priced gas and while remaining a viable participant in the gas export market,” Mr Katter said.
“Demand is rising and we need to be sure sufficient allowances are reserved for the benefit of Queensland”.
Currently Western Australia is the only state with a gas reserve policy, reserving 15% of the gas produced to ensure continued supply is available.
“We should expect that a finite resource should go back to benefit the very state from which it came,” Mr Katter said.
“It seems madness that we should sell everything and let our own people go short.”
With the ability to prevent the resource from competing on the international stage prices can be controlled, putting the national interest over the interest of oil and gas producers.
“The insulation of the market will be used to help keep electricity at a price our pensioners, young families and our industries can afford,” Mr Katter said.