Mirabile dictu: Second energy shock collapses

Wednesday, 7 June 2023

Somebody has made a clandestine phone call to the gas cartel and threatened blue murder. God knows, I hope MB played some part in getting it done. It sure wasn’t anybody else.

The gas price has collapsed under the $12Gj price cap:

Electricity prices have collapsed as well, though they are still double what they should be:

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

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.