Payback is a bitch for gas cartel

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The danger in running a cartel is a bit like that faced by the Targeryans of Game of Thrones. The power is so absolute that the only danger to it is itself as it breeds hubris.

That is the moment that Australia’s gas cartel now faces:

A treasurer in possession of a large budget deficit had better channel the American bank robber Willie Sutton rather than the English author Jane Austen – he needs to go straight where the money is.

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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.