Do Not Touch Media Release

Media Release

Reserved Resource Policy the solution to rising gas prices
2014-10-21

KAP Leader and the Federal Member for Kennedy Bob Katter is calling for support from his fellow cross-benchers to move legislation for a Reserve Resource Policy in Australia to prevent rising gas prices which threaten our manufacturing, resources and food processing industries.

Mr Katter is responding to recent media reports of some companies facing a $1 million increase in their gas bill.

“The cost of domestic gas is skyrocketing.

“Gas prices threaten the entire existence of industry in Australia. We need people to understand that our country is about to be stripped of its motor vehicle manufacturing industry totalling 46,000 jobs; its steel industry totalling 38,000 jobs; and the aluminium industry totalling 37,000 jobs.

“How are companies going to adjust to the 200 per cent rise in electricity charges in the last 10 years since corporatisation/privatisation and now on top of this a potential 400 per cent increase in gas prices?

“We are experiencing a dramatic price hike in gas and electricity due to the free market zealotry of the LNP and the ALP Governments.

"Where we were once paying $3.50 a gigajoule for gas, we are now forced to pay international prices of around $9-10 a gigajoule.

For nearly two decades Mr Katter has been a sustained and lone voice in the Parliament pushing for a Reserve Resource Policy, after being part of the inner-power group in the Bjelke Petersen Government in Queensland, which implemented a similar policy and saw Queensland’s development proposer and household electricity bills remain stable.

“A Reserve Resource Policy enabled Queensland to deliver the cheapest electricity in the world, which in turn helped to secure the aluminium industry,” Mr Katter said.

“If we introduced a Reserve Resource Policy for gas consumption we would see a drop in prices for the domestic and industrial market. This would save our dwindling industries.

“With the grim outlook for coal and all mineral processing - Australia is looking down the gun barrel of 200,000 jobs vanishing and within three years a plateauing of the iron ore industry.

“The outlook is as barren as the middle of the Simpson Desert.

“Our Government would rather export our resources, sell off our assets and let foreign companies prosper, rather than implement a Reserve Resource Policy and retain our assets; which would reduce the ever increasing costs of living,” said Mr Katter.

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