Aussies dodge another energy bullet


Aussies can breath a sigh of relief as Australia’s two most toxic energy firms have dumped a planned merger:

The official end to merger talks between Santos and Woodside is not unexpected, given the public opposition of several high-profile Woodside investors and Woodside chief Meg O’Neill’s pessimistic comments last week.

Despite Australia’s appaling track record of allowing industry consolidation, I can’t believe the ACC would wave this putative disaster through.

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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.