Global gas collapses. Except in Australia

In the US, gas is cents above a 30 year low at $2.40Gj.

In Europe, gas is $8Gj netback.

In Asia, gas is $10.50Gj net back.

In Australia, the gas price remains glued to the Albo’s $12Gj price cap, which does not even apply to the spot market:

A reminder: we have some of the cheapest gas in the world.

Resources Minister Mad King needs to get off her arse and pull the ADGM lever, apply export levies or just get on the phone and threaten blue murder to gas export cartel executives unless they halve Aussie gas prices.

Earth to Albo. We have an inflation problem driven by electricity prices and this is the cause.

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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.