Corrupt Morrison Government backs gas cartel against ACCC

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If you will pardon me for saying so, this is the economic equivalent of sexual assault. The Australian is citing the ACCC which has:

  • Slammed the east coast gas cartel for failing to even draft a code of conduct that will engage bulk gas users.
  • Rod Sims said the Government will move on mandatory price targets if no code is created.

I’m afraid not, Rod. Also at The Australian:

  • Resources Minister Keith Pitt said there was no need for mandatory prices.
  • He said higher prices were needed to trigger new supply.
  • And that “unscientific bans” on fracking were green pandering.
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And you wonder why the cartel has not drawn up a code of conduct that has no teeth anyway.

It’s like they are not even trying to hide the shoddy pantomime anymore with the gas cartel openly pulling the strings of the corrupt Morrison Government as it ignores the pleading of its own competition regulator.

Doubtless, Keith Pitt is eyeing off his executive position in oil and gas as his government chokes on smut.

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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.