CEO “laughed out of Canberra” for forecasting gas crisis

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Via the AFR:

The managing director of Australia’s biggest brick making company says if a company was ever run as badly as Australia has been in the past 10 years by its politicians, the entire board would step down.

Lindsay Partridge was fuming on Thursday as he revealed that Brickworks manufacturing plants were facing a 40 per cent rise in energy prices over the next 15 months as it grappled with an extra $20 million in gas and electricity price hikes.

“If a company was run as badly as this country, the board would resign,” Mr Partridge said.

“Governments of all persuasions over the past 10 years have watched this happen,” he said. Mr Partridge added that he had raised the looming gas crisis in 2012 in Canberra, but nothing had been put in place to prevent it.

“We could see this coming in 2012 and I got laughed out of Canberra,” he said.

Know how you feel, buddy.

I just finished watching Do-nothing Malcolm explain very clearly on the ABC how the gas and electricity crises are interrelated before suggesting we should build a coal-fired power station in far north QLD that will do nothing to fix the issue short or long term.

Canberra should be razed.

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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.