Banana gas market enters theatre of the absurd

Thursday, 18 August 2016

We all know the east coast gas market is broken given the spot market is now exhibiting periods when Australian gas is cheaper in Tokyo than it is in Sydney:

Driving electricity prices to the moon:

The problem is a toxic cocktail of policy failure including:

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.