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Australian Manufacturing Industry Urges State Curb on Gas Prices

The Australian manufacturers have urged the government to curb rising natural-gas prices that threaten to reduce the nation’s gross domestic product by as much as A$13 billion ($11.7 billion) a year.

While a boom in gas production from shale in the U.S. has cut prices for American manufacturers, buyers in Australia are being charged more than twice as much as they paid over the past decade as more of the fuel is exported to Asia, Wood Mackenzie Ltd., an energy research company, said this month.