Elon Musk brought to tears by Aussie power prices

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From the Daily Heil:

Billionaire energy mogul Elon Musk was almost brought to tears by Australia’s deepening electricity crisis that has prices soaring out of control.

The Tesla boss was confronted with figures showing record numbers of people were disconnected because they couldn’t pay their bills.

‘Wow, really?’ he said in disbelief when told by 60 Minutes that power was becoming a ‘luxury item’ for many families.

More at the AFR from Elon’s mate:

Speaking to The Australian Financial Review, Mr Cannon-Brookes described the National Energy Guarantee as “unhelpful” and said it “creates more problems than it solves and is very scant on detail”.

“It seems like a good enough solution for the political parties to have the issue go away, but it doesn’t actually do anything to solve the real problems.”

Mr Cannon-Brookes said he was delighted at the progress made in South Australia, and alarmed by the confused decision-making by the federal government.

“The stuff with Elon has played out better than I could have ever hoped when I sent the tweet; from a tweet to it actually turning into a battery was an extremely long shot and now it looks pretty certain that it will become a very important facility,” Mr Cannon-Brookes said.

“Since it started it has become clear that there are very different forces at work at a state and federal level. I am far from being an expert on politics but that to me seems to be a long-term Australian challenge.”

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It has been a constant wonder to me that the Australian energy gouge has not created wider upset and anger. The gas cartel that is most responsible gets very little bad press despite my best efforts. Indeed, its share prices have been rising handsomely as the bodies of pensioners pile up:

That’s Straya for ya.

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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.