Albo enters gas debate: will do price controls (not)

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Albo finally speaks:

Prime Minister Anthony Albanese has confirmed his government is working towards putting controls on the local price of gas that is “appropriate” and does not see “businesses put under undue pressure”.

Video here. Albo appears to have been forced to speak by the fragmentation in his government. He is trying to pull Ed Husin into line and save Madeleine King who is currently in hiding on a WA gas rig as the government tears itself apart:

There appears to be no discussion beyond amending the Code of Conduct that Mad King signed, which was clearly composed by the Evil Gas Cartel itself:

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Changing the COC will change nothing. Albo’s cowards still do not understand the gravity of their situation.

This is a can that cannot be kicked without immense harm to the political economy. It needs a proper solution or none. It hasn’t even entered Albo’s cowards’ darkest nightmares that they are going to have to do the same with coal.

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They are going to find out the hard way.

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.