Resources and Energy Minister Chris Hartcher claims there will be “catastrophic consequences” if NSW does not develop more coal seam gas. He seems to believe that by doing so there will be more gas for local industry and that this will prevent soaring prices. This couldn’t be further from the truth. The reason that gas prices are set to rise has little to do with farmers and environmentalists opposing coal seam gas, as Minister Hartcher would like us to believe. Rather, it is because the multinational gas giants that are extracting the gas are selling it in advance to overseas customers.
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