How Australia destroyed its own energy market

From Renegade Economist comes the fantastic Bruce Robertson (IEEFA) on how Australia destroyed its own energy markets:

We discuss policies to reduce gas prices as per international best practice. In light of further consolidation in the industry, we discuss how gas sets the baseline price for energy production in the nation. How much could energy prices fall if we got the gas price back to its’ long term price range?

Great/horrible listening for every Australian.

There is only one answer: regulation. We need domestic gas reservation and pipeline price fixing. Now endorsed by the ACCC:

Labor must do this as its first act in power or it risks the fate of four toppled PMs.

Comments

  1. the colonialMEMBER

    Just another poisoned chalice for the incoming government to sup from. Lets hope they don’t waste this crisis, but – unlike IP’s ceo – I’m not optimistic.

  2. Labor ……….Based on recent past performance of the incumbent parties (……………… sigh…….. Australian politics bumps Australian heads along the rocky bottom), we should have 1-2 leaderships spills (one within months from getting in office?), serious infighting over fairly clear routes of improving things, delays, gaffes galore, yet business as usual (eg high immigration and even higher power prices),…………….groundhog day with a different body.

  3. A complete calamity that isn’t getting the attention it deserves. This is the article that should have 100+ comments underneath it.

    • MediocritasMEMBER

      That’s increasingly common (last couple of years it went into overdrive). I think what’s happening is that the Lords, who are responsible for the really big problems, and are the ones who the Commoners should be uniting against, have done a very good job of deflecting attention via the mainstream media and their array of useful idiots.

      People are agitated by the big problems and, in that agitated state, they are easily incited to fight. The fights that have been promoted are a bunch of culture wars. So instead of discussing geopolitics, we’re discussing Trump’s sex life and NPC memes.

      Consume the black pill I say. It’s too late now and the ship is sinking. Get yourself into a lifeboat and prepare to fight off the latecomers.

      • So are you saying Strawberries and the Tampons tax are not the big issues affecting the everyday lives of Australians and just mere distractions to the real issues? I find that hard to believe when most strawberry farmers have gone broke(sarcasm) and women are dancing on the street throwing coloured tampons to celebrate the $6 they will save each year.