Australia's gas-led recovery is a year old today and is showing signs of growing pains as it has far from ushered in the private-sector stimulus the government had thought. The first year has been marked by contestable government financial handouts and Canberra's commitment to build a gas-fired peaking plant, which will only operate for around 2pc of the time. One of the multiple subsidy programmes to the gas sector has come under legal scrutiny, with legal authorities examining the lawfulness of the A$50mn ($37mn) funding for upstream exploration firms working in the onshore Beetaloo basin in the Northern Territory ... (full story)