In the US, gas is now $2.50Gj.
JKM Asian netback LNG shipped from Australia is $10.30Gj (I’m only including the shipping cost, not freezing).
NWEM European netback is $8.50Gj (I’m only including the shipping cost, not freezing).
Yet, Australian gas prices are still $12Gj despite coming out of the ground for $1Gj:
This is, once again, driving local electricity prices to the moon while they crater worldwide:
Need I remind Albo’s dills they are fighting an inflation problem? Are they going to do something about this latest gas export cartel price shock?
- Pull the lever on the ADGSM.
- Lower the gas price cap.
- Apply export levies.
- Import US gas and sell it at cost to benchmark the local spot market.
- Nationalise the bastards.
The government now finds itself in the ludicrous position of providing billions of dollars in offsets to households and businesses for inflated utility bills, savings that are, in effect, subsidised profits for the gouging gas export cartel.
This is somewhere between criminal and mentally ill, which is an excellent description of Resource Minister Madeline King, the captured buffoon in charge of the debacle.
Get off your arse and do something.
