ACCC moving to price regulate gas

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Australian Competition and Consumer Commission Gina Cass-Gottlieb just now:

“We recommended a set of steps to make those commitments binding and enforceable.

“One option… is a mandatory code rather than a voluntary code. So we do provide evidence and data from 2017 where we’ve been tracking these questions.

“The whole intent of heads of government and the (Australian Domestic Gas Security Mechanism) was to create a pressure and a threat of intervention which would result in sufficient supply domestically.

“We will be considering price and we will look at options. The treasurer has been very clear in relation to the question of an immediate short term need.

“The treasurer has been very clear in relation to the question of an immediate short term need.

“But we will, in view of the request be looking at a range of options that includes a price regulation.”

The Treasurer has allowed the circumstance to develop, has denied the need and delayed the deployment of any responsible response, and is now in a full-blown panic mode after his pointless budget blew sky high.

And still ahead for the Chicken is exactly the same fight with coal!

After a ripping report tearing the Evil Gas Cartel a new one two months ago, and now moving to clean up her boss’s shocking mess, Ms Gina Cass-Gottlieb is my new hero.

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Time to show the Chicken what balls the national interest looks like.

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.