Liberal senator Jane Hume did a bit better job of explaining the Coalition’s gas reserve policy on the Seven network this morning:

This is about an east coast reservation, essentially keeping Aussie gas for Aussies. There are three ways that gas can be used: It can be used in long term contracts, it can be used for domestic supply and it can also be traded on the spot market using those volatile prices — that’s where this East Coast gas reserve will come from bringing more gas to the system will unlock supply and bring prices down over time. We estimate that it’s going to create around a 23% drop in wholesale gas prices that will feed through to industrial gas, to retail gas, and also to electricity prices.

It then dissolves into a fight over who cares more about energy prices with Clare O’Neil which is…sigh.