Gas cartel destroys Coalition Government

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Via Herald Sun:

Baby Boomers, Millennials, mums and dads and every state and territory are united on one thing this election — cost of living is their number one issue.

…After five years in power, the Coalition is likely to take a hit over cost of living issues given wage growth remains sluggish and households haven’t seen a major reduction in power bills.

…Power prices will be a key election issue with the exclusive Australia Speaks survey revealing they’re the most concerning household expense for the majority of voters.

Millennials were the only demographic that didn’t view rising electricity and gas prices as their key concern, according to a special election edition YouGov Galaxy poll.

…Every other demographic — Baby Boomers, Gen X, mums and dads, Australians without children and voters in every state and territory — named electricity bills as their chief concern among household expenses.

Skyrocketing gas and power prices are both the direct result of the gas cartel’s engineering of an artificial shortage and crazy prices on the east coast.

The Government is getting everything that it deserves on the issue, and if Labor doesn’t fix the gas market with stronger domestic reservation, then it will be next.

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.