ACCC: Australia paying more than anybody for own gas

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Here is the chart from the ACCC monthly series, which has gas netback prices at $11.03Gj:

While Australians pay $11.88Gj:

And in a direct consequence, electricity prices soar:

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Crickets from Canberra and the press as usual while Treasurer Jim “Chicken” Chalmers chases chump change:

Woodside chief executive officer Meg O’Neill has backed the swift passage of legislation for a $2.4 billion change to the Petroleum Resources Rent Tax (PRRT), saying the impost had been under review for eight years, and it was time for some certainty.

Treasurer Jim Chalmers also urged the Coalition to pass legislation for the tax change after meeting its demands to streamline the environmental approvals process for resource projects.

I’ll bet Meg does. It is a rounding error but still too much for Dutton’s Whoresition.

Anyways, here’s how much of the gas economic and war rents your government is collecting:

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Lol, you loser.

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.