00:00Manufacturers like this are becoming a dying breed.
00:07The sector says high gas prices are to blame.
00:10Four to five years ago we were paying about five to six dollars a gigajoule for gas.
00:15We're now paying around 15.
00:18A growing list of manufacturers have already shut down.
00:22Australian manufacturing is at a dangerous crossroad.
00:25Now the boss of Blue Scope Steel warns Australia risks repeating the United Kingdom's industrial decline
00:33if the Federal Government fails to fix the broken gas market.
00:37How did we become one of the world's largest exporters of LNG?
00:41Providing the energy that our trading partners need
00:44while effectively starving domestic industry of a key input.
00:48Calls for a fair gas price come after another energy intensive manufacturer
00:53was given another bailout.
00:55This time $600 million from the Federal and Queensland governments.
01:00Securing this asset is an important part of securing a future made in Australia.
01:05The Queensland smelters owner Glencore
01:08partly blaming high energy prices for its financial woes.
01:12The manufacturing sector is calling for a gas reservation policy
01:16to lock in affordable and reliable supply on the East Coast.
01:21They also want a mechanism to ensure prices are kept below $10 a gigajoule.
01:27If Australia reserved just one-third of its current East Coast gas production,
01:32it would be sufficient to meet expected residential and commercial demand,
01:36industrial decarbonisation needs
01:39and gas peaking generation to help firm renewables.
01:44Without it, the sector warns there will be no future made in Australia.
01:48map.
01:50under Mack finals
01:54water
01:57Australia
01:58on the North
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