Treasury recommends market intervention to lower Australian power prices

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The federal government's chief economic advisor endorses market intervention to cap or reduce coal and gas prices, warning unusually high company profits are coming at the expense of poorer Australians.

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The federal government's chief economic advisor has endorsed market intervention to cap or reduce coal and gas prices, warning unusually high company profits are coming at the expense of poorer Australians.

Treasury secretary Stephen Kennedy has told parliament that the war in Ukraine has prompted a "redistribution of income and wealth" that is not in the national interest. "The current gas and thermal coal price increases are leading to unusually high prices and profits for some companies," Dr Kennedy said in a statement read out by deputy secretary Luke Yeaman."The same price increases are leading to a reduction in the real incomes of many people, with the most severely affected being lower income working households.

"The energy price increases are also significantly reducing the profits of many businesses and raising questions about their viability."

 

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Instead of recommended government intervention. Lame.

Well then it’s not a fucking market at all then is it.

Why can't we ask energy exporters to release gas cheaply to the Australian market now, with the promise that they will be looked upon favourably for developing new gas fields such as those in NT and NSW in the future. Those that don't, won't.

The war in Ukraine? He really means the stupid, self-defeating sanctions imposed on Russia by the whole world* in a desperate, doomed effort to prop up US hegemony. *whole world: NATO countries and their felching running dogs Australia and NZ.

Because it's worked so well, so far.

Here’s an idea, fire up OUR coal

Which will increase inflation. Nice one. Hoping that one day our politicians will wake up and realised they've been lied to about so-called 'renewable' energy, and go back to cheap and reliable coal and gas, and/or start building nuclear plants...

So the clown’s so-called “plan” included a little bit of socialism? Well I never!!

Wow. Just let the gov run it all. Then we can use the public money. Just like superannuation should be. Out of private hands. Unless every member of the public is made a shareholder and we all receive equal dividends, why are only some allowed to Privately own public assets ?

Bout time. Booo to the energy corporations. All had it too good for too long at the expense of the Australian public. Ban All petrochemical gas mining subsidies wtf 😳 give our money back via taxation & all the subsidies given PAY BACK ALL $$$$$$$$ wheres my subsidies der wtf

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