Wesfarmers has joined the list of victims of Western Australia's gas supply crisis.The company told the ASX yesterday that the cost could be & #36;20 million a month off pre-tax earnings for as long as the supply problems last.The news saw investors give the company a touch up and sold off the shares by around 3.5%, or & #36;1.36 to & #36;37.40.It joins the likes of Babcock and Brown Power, Fonterra, BHP, Newcrest, Alcoa and Minara Resources in experiencing some financial impact from the gas supply problems that followed the Varanus Island blast at the start of the month.That June 3 pipeline explosion has cut 30% of the state's natural-gas supplies. Brokers, Southern Cross Equities said Tuesday that the crisis could knock earnings at mining companies such as BHP Billiton and Newcrest Mining by a combined & #36;500 million this year.Newcrest, Minara and Alumina are among companies that have reduced output or profit estimates after the explosion at the Apache Corp plant.Full production won't be restored until December, boosting power costs for mining companies.The WA Chamber of Commerce says the gas shortage and associated problems may cost the Western Australian economy billions of dollars over the rest of 2008 and into early 2009.Wesfarmers is the first company to put a dollar figure on its possible losses and says some of the loss will be recovered from insurance.The company made no mention of any impact on its Coles group outlets an ...
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