Mwahaha. The energy majors are all out with earnings in the last few days and are printing cash. That is no surprise.
What you may not be aware of is that there is another, much greater, winner, from war-profiteering the Ukraine conflict and the distraction of the Evil Gas Cartel.
It is the Evil Coal Cartel and its gains dwarf its minor-demon brother:
The Evil Coal Cartel is better taxed than the gas version. But, it is a lot more environmentally damaging. Moreover, it is significantly responsible for the electricity prices spikes in NSW and QLD where prices are highest for the longest because tradable black coal is still the dominant form of energy production:
And the price has gone mad:
A much higher proportion of local coal production is used in local power than is the case for gas. That means any policy remedy, such as capped price domestic reservation, will come at a much greater cost to the coal producers’ profits than is the case with gas.
Albo’s cowards have an even bigger fight on their hands with coal than they do gas!
