Gas cartel plays dead

Friday, 19 August 2022

The gas price is hanging around $19Gj again today as the cartel calculates that that is low enough to take the heat off it during ADGSM negotiations with the captured Resources Minister Mad King.

Power prices have thus fallen back too and at these prices will raise utility bills by about one-third over the next year and put most manufacturing out of business. It is a considerable improvement but still completely unnecessary and very damaging:

Install a $7Gj price trigger into the improved ADGSM and crash energy prices NOW.

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.