Angus Taylor makes no sense – » The Australian Independent Media Network

Righto. Angus is on the job. Except … Australia’s largest producer of urea, Incitec Pivot, told the stock exchange last month it plans to close its main urea plant in Brisbane’s Gibson Island by the end of next year. The facility had been unable to secure “an economically viable long-term gas supply.” Paradoxically, Australia’s Department of Industry, Science, Energy and Resources said in its Resources and Energy Quarterly released June 28 that the global LNG market is likely to be marked by a surplus of supply over the next couple of years, which will place downward pressure on prices. “Given the large-scale expansion of global LNG capacity in recent years, import demand is expected to remain short of export capacity throughout the outlook period,” the report said. Then I read in the New York Times … Tanker ships carrying liquefied natural gas from exporters like the United States, Qatar and Australia have been steaming toward China and Brazil, drawn by higher prices.

Source: Angus Taylor makes no sense – » The Australian Independent Media Network

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