1 00:00:00,160 --> 00:00:02,759 Speaker 1: Murray Old's Assie corresponds with us right now, Hello, MS, 2 00:00:03,640 --> 00:00:05,920 Speaker 1: very good afternoon, Heather. Right, so you're going to be 3 00:00:05,920 --> 00:00:09,120 Speaker 1: forced to keep your gas on shore as we bloody 4 00:00:09,119 --> 00:00:13,319 Speaker 1: well should wa. Western Australia has had it's called a 5 00:00:13,320 --> 00:00:16,120 Speaker 1: gas reservation policy, which is a hell of a big 6 00:00:16,160 --> 00:00:18,639 Speaker 1: way to say we're going to keep some gas here 7 00:00:18,680 --> 00:00:21,480 Speaker 1: in Australia and export it all up to Asia. We're 8 00:00:21,520 --> 00:00:24,280 Speaker 1: almost all to Asia. And the federal government has now 9 00:00:24,360 --> 00:00:27,480 Speaker 1: set to follow the lead set by Western Australia probably 10 00:00:27,560 --> 00:00:30,360 Speaker 1: nearly twenty years ago. Let's how long this goes back. Heather, 11 00:00:30,760 --> 00:00:33,280 Speaker 1: knowing at federal level, had the foresight to think that's 12 00:00:33,280 --> 00:00:36,440 Speaker 1: not a bad idea. And so what we've seen here 13 00:00:37,200 --> 00:00:41,479 Speaker 1: gas is the only transition fuel available to wean industries 14 00:00:41,560 --> 00:00:45,760 Speaker 1: off coal fired power and onto renewables. We've discussed coal 15 00:00:45,840 --> 00:00:49,320 Speaker 1: fired power before. All the assets are running out of life. 16 00:00:49,720 --> 00:00:51,800 Speaker 1: The biggest one in Australia has been propped up to 17 00:00:51,840 --> 00:00:55,640 Speaker 1: the tune of for said two hundred million dollars. Tax 18 00:00:55,640 --> 00:00:58,120 Speaker 1: players are paying that in New South Wales to keep 19 00:00:58,160 --> 00:01:01,720 Speaker 1: this old, this old bm off still chugging along for 20 00:01:01,720 --> 00:01:04,320 Speaker 1: the next two years. But coal is on the way 21 00:01:04,360 --> 00:01:07,360 Speaker 1: out now gas is the only transition fuel. As I said, 22 00:01:07,440 --> 00:01:09,919 Speaker 1: the opposition took a similar policy to the last election 23 00:01:10,240 --> 00:01:13,800 Speaker 1: that labor was criticizing it. Oh, it's terrible, it's terrible. 24 00:01:14,000 --> 00:01:16,839 Speaker 1: Now apparent it's a great idea. Gas prices have tripled 25 00:01:16,840 --> 00:01:19,720 Speaker 1: here in the last decade as coal fired plants get 26 00:01:19,720 --> 00:01:22,319 Speaker 1: a lot older. And guess what is being exported. The 27 00:01:22,319 --> 00:01:24,520 Speaker 1: whole line of is exported. So now the government is 28 00:01:24,560 --> 00:01:27,240 Speaker 1: saying we're not in so many words yet this has 29 00:01:27,319 --> 00:01:30,000 Speaker 1: just been a story floated in the media today. But 30 00:01:30,080 --> 00:01:33,880 Speaker 1: governments are propping up industries without money, industries like steel 31 00:01:33,920 --> 00:01:36,959 Speaker 1: and aluminium, to keep jobs in the remote areas. Keep 32 00:01:37,000 --> 00:01:39,440 Speaker 1: some industry at home. What's upon And don't we make cars? 33 00:01:39,560 --> 00:01:43,960 Speaker 1: You're not anymore? And politically, of course, the opposition's bashing 34 00:01:44,040 --> 00:01:47,960 Speaker 1: labor over high prices. Election promises are going to cut costs, 35 00:01:48,040 --> 00:01:50,720 Speaker 1: the need to safeguard jobs. It's a mess. But the 36 00:01:50,800 --> 00:01:52,480 Speaker 1: line of the short of it looks to be that 37 00:01:52,560 --> 00:01:55,280 Speaker 1: the gas exporting companies are going to be told you 38 00:01:55,400 --> 00:01:58,520 Speaker 1: must keep fifteen twenty twenty five percent of the gas 39 00:01:58,520 --> 00:02:00,800 Speaker 1: you're getting out of the ground, must keep that for 40 00:02:00,840 --> 00:02:03,240 Speaker 1: the domestic market here in Australia and if you don't 41 00:02:03,240 --> 00:02:05,240 Speaker 1: bek it to Belcher. So we just have to wait 42 00:02:05,280 --> 00:02:06,960 Speaker 1: and see which way to mop flops on this, but 43 00:02:07,000 --> 00:02:10,920 Speaker 1: we expect to announcement next week. Very interesting now, the 44 00:02:10,919 --> 00:02:13,480 Speaker 1: black market tobacco is becoming quite a problem with you 45 00:02:13,520 --> 00:02:18,880 Speaker 1: people own absolutely. Here's some stats three of sales of 46 00:02:19,000 --> 00:02:21,840 Speaker 1: legal tobacco that's the stuff that you know we're allowed 47 00:02:21,840 --> 00:02:25,440 Speaker 1: to buy, that's collapsed. Almost thirty percent collapse in the 48 00:02:25,480 --> 00:02:29,280 Speaker 1: last year to September, one third the size it was 49 00:02:29,360 --> 00:02:32,280 Speaker 1: three years ago. Now, if you spend fifty bucks in 50 00:02:32,320 --> 00:02:36,240 Speaker 1: a packet of cigarettes over here, twenty cigarettes, about thirty 51 00:02:36,240 --> 00:02:39,200 Speaker 1: five forty dollars of it is actually tax that goes 52 00:02:39,240 --> 00:02:42,480 Speaker 1: to the government. Here's the thing. Ever, on the black market, 53 00:02:42,680 --> 00:02:44,920 Speaker 1: a packet of durries can be bought for ten or 54 00:02:44,960 --> 00:02:49,160 Speaker 1: twelve dollars. So the government tax takes down dramatically seven 55 00:02:49,240 --> 00:02:53,320 Speaker 1: billion this year. It was more than double that just 56 00:02:53,440 --> 00:02:56,720 Speaker 1: five years ago. And the other metric relates to health 57 00:02:56,720 --> 00:02:59,040 Speaker 1: today and I hadn't even thought of this. The tax 58 00:02:59,200 --> 00:03:01,359 Speaker 1: was devised to call in the governments back in the 59 00:03:01,440 --> 00:03:04,880 Speaker 1: day to discourage smoking. Let's tax this product to make 60 00:03:04,919 --> 00:03:07,320 Speaker 1: it every more expensive. Well, here's the thing. The sales 61 00:03:07,480 --> 00:03:10,480 Speaker 1: legal tobacco are dramatically down. Black market souse with the 62 00:03:10,600 --> 00:03:13,920 Speaker 1: roof state governments are saying, listen, coming up, government, cut 63 00:03:13,960 --> 00:03:16,200 Speaker 1: the exercise. We'll get rid of the criminals. They're all 64 00:03:16,360 --> 00:03:20,480 Speaker 1: shooting each other and fire bombing each other's shops. I 65 00:03:20,480 --> 00:03:22,720 Speaker 1: don't think anyone's died yet, but it's only a question 66 00:03:22,800 --> 00:03:25,800 Speaker 1: of time, because that must must have you. Have you 67 00:03:25,800 --> 00:03:27,760 Speaker 1: stopped to think about how nutty this is. They are 68 00:03:27,840 --> 00:03:32,079 Speaker 1: fire bombing shots shops over illegal tobacco, for God's sake. 69 00:03:32,520 --> 00:03:39,280 Speaker 1: I know that's nuts, right, it really is. Yeah, most listen, 70 00:03:39,280 --> 00:03:40,840 Speaker 1: thanks very much. Bring us up to speed on that. 71 00:03:40,880 --> 00:03:44,080 Speaker 1: You have yourself a nice day. That's Murray Old's Australia correspondent. 72 00:03:44,680 --> 00:03:47,880 Speaker 1: For more from Hither Duplessy Alan Drive, listen live to 73 00:03:47,960 --> 00:03:51,000 Speaker 1: news Talks it'd be from four pm weekdays, or follow 74 00:03:51,040 --> 00:03:52,800 Speaker 1: the podcast on iHeartRadio.