Gas cartel eats Australias last plastics manufacturer

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It was the case that if you used polyethylene, then you would go to Qenos. But no more:

The federal opposition has slammed the Albanese government’s lack of action on gas prices as major plastics manufacturer Qenos prepares to shut up shop in Victoria and NSW.

Opposition energy spokesman Ted O’Brien said Labor’s focus on the renewable energy rollout was “trashing Australia’s comparative advantage” as energy-intensive companies such as Qenos that also relied on gas as a feedstock were forced to close down as a result of high energy and gas prices.

“My heart goes out to the hundreds of workers who face job losses due to this decision and their families, who are innocent victims of Labor’s ideological attack on gas, which is forcing manufacturers to the wall due to high energy prices,” he said.

You can’t use what you don’t have, Ted. Your lack of heart is obvious in the lies.

Both political parties could have prevented this years ago with more stern regulation of the East Coast Gas Cartel including proper reservation and harsher price caps.

I guess Qenos is off to Europe, where Aussie gas is still cheaper than it is today. Or to North Asia, where Aussie gas is often more affordable than at home.

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Neither political party is interested in doing anything beyond featherbedding their post-politics positions.

For some reason, the corrupt Resources Minister Mad King is busy saving useless nickel processing, which we use in nothing except shiny dinner knives, based on the need for “soverign capacity”.

But there is no soverign capacity for making plastic, which goes into absolutely bloody everything, including munitions.

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It is fast reaching a point where Australia versus Canberra is a life-and-death struggle.

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.