Market interventions are inherently bad, yet we have seen a big one in the past week. Energy continues to be a geopolitical battleground, and Australia’s energy market never ceases to provide intriguing policy conundrums.
Over the past few weeks, it became clear that both gas and coal needed to be considered, and some form of price caps would be the least bad solution. The caps should apply only to domestic supply and preferably without affecting current contracts.Advertisement The caps will not apply to export contracts and will not restrict the companies’ capacity to benefit from the high international prices. Presumably on the coal side there will need to be agreement to ensure supply to the domestic market, like what the federal government can deliver through the Australian Domestic Gas Security Mechanism.
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OPINION: The fin review is bought and paid for by billionaire energy oligarchs, and is complicit in altering the narrative in the favour of the billionaire energy oligarchs
Combining the policy with not investing significantly to increase gas, coal and oil production particularly investment in producing diesel given a war is on our doorstep defeat is going to fall from a great height and not simply regards our energy policy.
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Labor’s energy plan could go beyond price cap in ‘declaration of war’ on the industryEnergy producers fear price controls will last beyond a temporary cap negotiated last week after a long-term “reasonable price provision” was included in a consultation paper. | CroweDM NickToscano1 CroweDM NickToscano1 It’s our gas. They should provide it to everyone in australia for free for the privalige of exporting it. They are such turds CroweDM NickToscano1 Cry me a river of Gas that runs on a raging electriccurrent Excuse me while I cry croco tears for the gouging wroughting companies that sell Aust commodities to overseas comps then sell Aust its OWN products at EXORBITANT prices & profits GOUGING Tax Payers auspoI aholes CroweDM NickToscano1 These poor energy companies and their very well remunerated executives! It must so be hard to, now, be accountable!
Source: theage - 🏆 8. / 77 Read more »
Labor’s energy plan could go beyond price cap in ‘declaration of war’ on the industryEnergy producers fear price controls will last beyond a temporary cap negotiated last week after a long-term “reasonable price provision” was included in a consultation paper. CroweDM NickToscano1 The SMH is like a Murdoch rag, but even more smug and annoying. CroweDM NickToscano1 A declaration of war on the industry WTF could go wrong...Labor lunacy 🤦♂️ CroweDM NickToscano1 The gas cartels & their investors have already declared a price & misinformation war on the Australian public. Fact 1. 80% of Australian gas is exported or used to power the LNG trains that prepare it for export & is free of price caps.
Source: smh - 🏆 6. / 80 Read more »
‘Near nationalisation’: shock gas market changes revealedThe policy proposal would increase the risk of blackouts by cutting supply, and could derail the $18.4 billion takeover bid for Origin Energy, industry and analysts say. Have a sook, etc. The sequence of events is real simple: 1. Gas price cap 2. Gas supply declines 3. Electricity prices climb (* workers suffer *) 4. Renewables increase as they are more economically attractive 5. Rise of new energy Czars 6. People freeze and starve Bookmark this prediction… Well that’s what we voted for
Source: FinancialReview - 🏆 2. / 90 Read more »