Australia’s LNG Boom Cost Australia’s Manufacturing $118 Billion

Key points

• A 2014 Deloitte Access Economics report warned that exporting gas from Queensland's liquefied natural gas projects would raise domestic energy costs and hurt manufacturers. It estimated cumulative manufacturing output losses of $87.7 billion to $118.1 billion over 2014 to 2021, in discounted terms, against a modelled alternative.
• Those figures were not forecasts of an annual fall.
• Regulators later documented soaring gas prices, factory closures and curtailed aluminium output.