One of the trends for 2013 is the shale gas boom in US which means that petrol and gas prices are dropping. As I understand things the product will stay in the US to achieve lower prices domestically. Meanwhile it is suggested that Australian producers will send their product overseas to take advantage of the higher prices on offer. So my question is: why would US producers leave their product at home to achieve presumably lower prices. Alternatively, what has to be done for Australian producers to leave their product in Australia and help bring down our own high price.
I am presumably missing a macro issue here but the different intent of producers here and the US is intriguing.