“We don’t have a shortage of supply. We have a glut of greed.” The assessment, delivered by Geoff Crittenden, Chief Executive Officer of WELD Australia, encapsulates the growing crisis facing Australian manufacturers as gas prices surge. The Australia Institute has documented the impact of escalating gas costs, attributing them to excessive exports, a situation that is threatening the viability of domestic industry.
The crisis was discussed on the “Follow the Money” podcast, featuring Crittenden alongside Mark Ogge, Principal Advisor at the Australia Institute, and hosted by Ebony Bennett, Deputy Director of the Australia Institute. The conversation centered on the disproportionate impact of export volumes on the availability and affordability of gas for Australian businesses.
According to the Australia Institute’s research, published in July 2025, the price increases are not a result of scarcity but rather a consequence of prioritizing international markets over domestic needs. A submission to the Gas Market Review, completed in August 2025, further detailed the Institute’s concerns regarding the current regulatory framework and its effect on gas pricing.
Crittenden, representing the manufacturing sector, highlighted the detrimental effects on businesses reliant on gas as a key input. The podcast explored potential government interventions to ensure a more secure and affordable gas supply for Australian industries. Discussions included the potential implementation or strengthening of gas reservation policies, designed to mandate a certain percentage of gas production be reserved for domestic consumption.
The conversation also touched upon the broader context of the clean energy transition and the role of gas within it. While acknowledging the long-term shift towards renewable energy sources, participants emphasized the immediate need to address the current gas affordability crisis to prevent further damage to the manufacturing sector.
The Australia Institute’s analysis, as presented on the podcast, points to a systemic issue of prioritizing export revenue over the needs of domestic consumers and businesses. The Institute has called for greater scrutiny of gas export policies and a re-evaluation of the balance between maximizing profits and ensuring energy security for Australians.
As of today, the Australian government has not publicly responded to the specific recommendations outlined in the Australia Institute’s submission to the Gas Market Review. A follow-up discussion on the topic is scheduled for the next episode of “Follow the Money.”
