They whinge and whine like little girls, then they sell your gas like it’s gold in Asia.
Pakistan and Bangladesh were forced to buy expensive liquefied natural gas shipments as the Middle East conflict chokes supply, straining government finances.
The spot shipments cost about double what the two countries would have paid for long-term supply from Qatar, prompting them to rethink their reliance on the super-chilled fuel.
Contract gas is booming as well as Brent launches back over $90. Those volumes are sold as a percentage of Brent, between 11% and 14%.
At least one of the Pakistan cargoes was sold by Total, which could very well have been from GLNG, your friendly neighbourhood gas thief.
Meanwhile, the ALP poofs around.
Labor’s upcoming national conference represents the best chance for a tax on gas exports to become a reality, advocates say, as senior ministers play down the prospects.
Hundreds of delegates will converge on Adelaide from Thursday for Labor’s triennial summit, which will determine the party’s official policy agenda.
…Australia Institute chief economist Greg Jericho said potential debate about issues around the gas tax at the conference signalled movement on the issue.
Sadly, if arch-mincer Greg Jericho is backing it, it has no chance. The ALP executive appears lukewarm at best.
Critically, we also need to know what the government plans to do with the tax. It’s bloody useless if it just goes back into more overspending and crowding out of the private sector.
It should either be structured as a 100% export levy, thereby crushing the local price of gas and power. Or, it should be recycled as bill subsidies for households and businesses.
Anything less will be inflationary and further exacerbate the decline in living standards.
You are, once again, paying absurd prices at home for your own gas.
Wrecking the energy transition in the process.
