GloboAlbo is Prime Minster of everywhere except Australia.
He puts cheap foreign labour ahead of Aussie workers.
He puts mass immigration ahead of Australian youth for housing, and ahead of everybody else for public services and the environment.
He puts toilet paper Third World university degrees ahead of a hard-earned Australian education.
He puts China grovelling ahead of Australian liberalism and strategic power.
He puts Washington in control of the Australian military.
And, to top it all off, GloboAlbo puts greedy foreign corporations ahead of your energy bills. Galivanting around the world, giving away cheap Aussie energy to anybody and everybody, while Aussies are rorted and gouged beyond belief.
While GloboAlbo has pretended to fix the east coast gas cartel, it is now delivering gas to Europe at $14.50Gj. As a result, German electricity prices (a good median for Europe) have fully normalised to pre-Ukraine prices at $76MW/h.
But Australian gas prices are 30% higher at $19.12Gj. As a result electricity prices are, astonishingly, more than double German at $170MW/h:
In fact, GloboAlbo is selling Aussie gas to friends and foes alike at a 30% discount to Aussie prices. He doesn’t care who.
GloboAlbo’s Aussie gas is 30% cheaper in Japan than it is at home:
Anthony Albanese has told Prime Minister Fumio Kishida that Australia is committed to remaining a reliable supplier of energy to Japan in an attempt to calm concerns in Tokyo about future policy decisions in Canberra.
GloboAlbo’s Aussie gas is 30% cheaper in Korea where he has made similar pledges.
GloboAlbo even sells it to China for $14.50Gj despite it coming back transformed into hostile aircraft carriers.
As GloboAlbo sprays cheap energy anywhere and everywhere but Australia, the strangest debate I can remember is underway in the iMSM:
The Australian oil and gas industry is currently neither primed, nor keen, to go to war with politicians over energy policy.
To be sure, they’ve lost some skin over issues such as the emergency price cap of $12 per gigajoule of gas imposed in December last year and now in place until mid-2025.
Today’s price is $19.12Gj. Is that under the $12Gj price cap?
So, what are the Australian implications of GloboAlbo’s highest gas and electricity prices in the world?
Utility bills make up 5% of household budgets. Current prices are 250% above the pre-Ukraine War ranges. Wholesale energy costs make up 30% of retail bills. So current prices add 75%.
A quarter of this has already been passed on after last year’s shock (some of which was absorbed by state governments). The Budget is aiming to undo this temporarily with bill subsidies.
However, GloboAlbo’s new energy shock will add another 50% to utility bills. With spillovers, this will add 3% added to the CPI over the next year.
This is enough to force interest rates to 5%, to crash house prices again, and to drive unemployment meaningfully higher than otherwise.
We can only conclude that GloboAlbo loathes Australians.
