Albo's energy shock goes nuclear

I am still at a loss why there is silence around this. Gas prices are today double Albo’s price cap of $12Gj in NSW and VIC.

The consequences for electricity prices speak for themselves:

At these prices, utility bills will not only swamp Budget relief, but they will also rise by two-thirds. This will add 5-6% to the CPI and force the RBA to take the cash rate to 6%, crashing house prices and the economy.

Meanwhile, the global price of coal and gas continues to crash. Blue is coal, black is LNG:

Australian gas prices are close to double European, and electricity prices are triple.

This is openly criminal activity by the gas cartel that will do untold damage to the economy, slaughter the poor, and unseat the Albanese Government.

Which appears to be the plan.

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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.

Albo’s energy shock goes nuclear