It also came at enormous cost to the rest of Australia's business community after the scrapping of a corporate tax cut to 25 per cent.
While Russia's ill-fated invasion of Ukraine has intensified the situation, the energy crisis now gripping the country isn't something new. Its genesis stretches back more than a decade to when the east coast exporters, attempting to exploit the new coal seam gas fields, overinvested and overestimated how much gas was available.
For that entire time, the exporters claimed the problem was caused by insufficient supply — that state governments had restricted new gas field developments, thereby forcing domestic prices higher.Suddenly, last week, it was thrown out the window by Ian Macfarlane, former resources minister and now industry spokesman, in an interview on the ABC's 730 program.Watch“Having a government setting a gas price is incomprehensible”: Queensland Resources Council CEO Ian Macfarlane.
How bad is communism?🤣🤣🤣
Always follow the money. If the multinationals believe there is still money to be made in Australia then they will stay. But like anyone they will find indignation and bluster at the loss. Mining will continue to boom because it makes them rich.
The ABC marxists have no idea what a ‘free market’ means.
You need to finish the sentence: Free market or freedom to profiteer or controlled market and inability to make a profit thereby killing the industry and gas supply…the ultimate goal of green, red and teals.
They a worse then profiteers they are war profiteers the lowest of the low profiteering of misery inflicted on by Dictator Putin
We export gas and have the right to put Australia first and set a price. EU imports. Don't compare us to them
Free market - what billionaires love Real world - the place the billionaires screw over the rest of us
I don't know why foreign shareholders should benefit from our gas.
Albo If you can CAP Coal & Gas prices, why can't you CAP the prices of Petrol Groceries Rents Mortgage Interest rates Home insurance
getting the government moving looked like we didnt have the same interest
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Source: GuardianAus - 🏆 1. / 98 Read more »