Voters support control of gas exports ahead of price surge

Nearly nine in 10 Australians want the government to intervene in the gas market as prices get set to soar even higher across the next two years. An Australia Institute study found that 86% of people support export controls or a windfall profits tax after the federal budget forecasted a combined 50% spike in the next two years in gas and electricity prices. The study says 80% of people support export controls and 71% want a windfall profits tax, with just 3% disagreeing with both measures. ‘‘There is no gas supply crisis. Australia has a gas greed crisis. The gas industry is making enormous windfall profits, up to A$40 billion (NZ$44 billion) this year alone, off the back of exporting 80% of Australian gas,’’ Australia Institute senior economist Matt Grudnoff said. He said a windfall profits tax could grab A$20 billion in revenue to spend on other cost of living measures.