The Albanese government is considering developing an East Coast gas reserve as part of a comprehensive energy system review, according to a report in the Australian Financial Review citing anonymous sources — a policy Labor previously called "a joke" when proposed by the Coalition at the last election.
The potential policy reversal has drawn mixed reactions from federal politicians, with Coalition Senate Leader Bridget McKenzie expressing cautious support while Independent MP Zali Steggall warned against expanding gas reserves due to climate concerns.
"We'll look at the detail if the rumours are correct, but the reality of the Labor Party at a state and federal level's policies is we've got higher electricity prices and lower energy security," McKenzie said during a Sky News Australia panel discussion Friday morning.
The Coalition took the gas reservation policy to the 2022 federal election as part of its energy platform, arguing Australia should secure domestic gas supplies to reduce prices and ensure energy security while the country exports significant quantities overseas.
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