Attention anybody. Australian gas is now comfortably the most expensive anywhere on planet earth:
- US $2.50Gj
- Europe $8.70Gj net back.
- Asia $10.60Gj net back.
Australian gas is $11.73Gj. It comes out of the ground for next-to-nothing up the road:
Canberra has a spaghetti bowl of existing and possible regulations to fix this in an instant:
- Australian Domestic Gas Security Mechanisms (ADGSM) to force more gas from exports into the local market.
- The gas Code of Conduct.
- Special ACCC gas cartel monitoring.
- Export levies.
- LNG imports by government to act as a ‘gas central bank’.
- Jawboning the east coast gas cartel.
Instead, the ALP is subsidising the world’s highest gas prices via retail and business utility bill giveaways.
The giveaways temporarily prevent spiking wholesale electricity prices – driven by gas – from hitting utility bills:
But the gas export cartel pays no tax, so Canberra’s subsidies are still coming out of the pockets of Australians via higher taxes for them in the long run.
Not to mention that the situation is directly responsible for much of the current inflation problem and sky-high interest rates.
Can somebody, anybody, please do or say something.
