If you don’t lead in a critical national crisis then the crisis will lead you. And that is exactly what is now happening to the Albanese Government as everybody turns on its ribald energy failure:
Energy Minister Chris Bowen will face calls from state and territory counterparts to consider capping gas and coal prices, restricting energy exports, subsidising electricity bills and slapping a windfall profits tax on fossil fuel producers at a meeting aimed at curtailing price spikes.
South Australian Energy Minister Tom Koutsantonis said Friday’s meeting would be a “deep dive” into solving the crisis, with briefings from the Australian Energy Regulator, Australian Energy Market Operator and the Australian Energy Market Commission.
He said a comprehensive plan had to be led by the Albanese government and should include measures to force gas and coal producers to lower prices when selling to the domestic market.
Bravo. At last, coal enters the conversation. More:
NSW Energy Minister Matt Kean said thermal coal, which has nearly doubled in price since the war in Ukraine, needed to be part of any discussions of regulating domestic prices.
“Regulating gas alone is not a solution. It is essential that both coal and gas are addressed together to get the best outcomes for all states in the national energy market,” Mr Kean said.
He added the federal government should use the massive increase in tax receipts from coal and gas exporters to subsidise the electricity bills of households and businesses.
Queensland Energy Minister Mick de Brenni also signalled support for price regulation on coal and gas producers. “The ability to charge super prices in Australia, for essential services that are served by Australian-owned resources, is not acceptable to consumers,” he said.
ACT Energy Minister Shane Rattenbury said the Albanese government should slap a windfall profits tax on fossil fuel companies and redirect the money to household rebates.
I don’t know who is briefing these “leaders” but much of it is wrong or wrong-headed. Coal is up 800%. Recycling super profits taxes as subsidies will just drive up inflation unless it is done alongside domestic reservation.
God knows how Bovver Bowen is going to react. So far, he has been as big a disaster as Mad King and that is saying something.
Albo’s cowards are now huddled in a dark corner with the Evil Gas Cartel and Big Coal as everybody else enters the leadership vacuum:
- Dutton, Greens, and Teals are demanding cheaper energy.
- St Vincents de Paul, manufacturing, Grattan, Australia Institute, and clean energy lobbies are demanding cheaper power.
- ACCC past and present is demanding action.
- The Idiot MSM has finally gotten the message, though its reporting on the issue is a factual disaster.
The highest likelihood outcome at this point is this:
Energy ministers should agree to impose a price cap on gas at about a third of current market offers when they meet on Friday to help ease inflation threats, the head of one of Australia’s largest industry groups has said.
Andrew Richards, CEO of the Energy Users Association of Australia, said current energy prices were “dire”, with contracts being offered for gas at about $35 per gigajoule.
That’s up from about $10/GJ a little over a year ago and compares with average gas production costs at about $5.50/GJ, Richards said.
“What we’re seeing now is a price shock driven by the war in Ukraine,” he said. “I’ve got members in Echuca [on the Murray River in Victoria], who are food processors and are inundated with flood water, saying ‘the floods won’t kill us but the energy prices will’.”
Albo’s cowards are yet to even mention coal so I doubt that they have it in them to get out in front of that. Even though they are mad not to do so.
Basically, Albo has foregone a screamingly obvious opportunity to lead on a policy shift that would have made them heroes forever and baked in a second term.
Instead, they are being pushed kicking and screaming to address the clearest possible intersection of hip-pocket politics and national interest imaginable. And will now be resented even if they take action.
Such awful judgment bodes very poorly for the Albanese Government’s future.
