Carbon Economy

Via the AFR: Labor says the certainty created by having an energy policy and the falling cost of renewable energy means emissions can be cut and prices lowered at the same time.

It’s all so horribly predictable.

Whether its credit or Trump it’s a slowdown in China: The latest Caixin China Composite PMI™ data (which covers both manufacturing and services) signalled only a marginal increase in overall Chinese business activity at the start of the fourth quarter of 2018.

Yay!

A moderate victory over the gas cartel at Domainfax: Oil and gas giants will be hit with a $6 billion tax hike over the next decade following years of concern that Australia has been hemorrhaging lucrative revenue to multinationals.

Exciting news via Platts: On October 22, Japan’s Ministry of Economy, Trade and Industry unveiled a model clause that can be used by LNG buyers to remove destination restrictions from long-term contracts.

Via AFR: Mike Cannon-Brookes’ campaign to reclaim the phrase “fair dinkum power” from Prime Minister Scott Morrison has been swamped with offers of support, and the Atlassian billionaire is in the process of registering a trademark for a logo to promote renewable energy.

I know this bloke means well but having $6bn does not make you expert on everything, via Twitter: ⚡ Argh!

Not everything about the gas cartel is bad.

Via The Australian: Labor will take the National Energy Guarantee — devised by Malcolm Turnbull and Josh Frydenberg — to the next election as its preferred mechanism for reducing emissions.

Via the AFR: Labor will side with business and oppose the government granting itself powers to force the divestment of energy companies, arguing it is an ad hoc move which would have no impact on power prices and only serve as an investment risk.

Via the AFR today: From the start, the structure of the ADGSM, with its annual decision on whether to curb LNG exports, was seen as vulnerable to “gaming” by gas buyers as they sought to access lower prices.

From Renegade Economist comes the fantastic Bruce Robertson (IEEFA) on how Australia destroyed its own energy markets: We discuss policies to reduce gas prices as per international best practice.

Hope is kindled: Welcome aboard, Rod.

The AFR continues its energy jihad against all Australians today: East coast gas buyers have resigned themselves to the prospect of paying around $10 a gigajoule for gas, even with Labor’s gas plan signalling lower prices, said Cooper Energy chief executive David Maxwell.

Does anyone recall that glorious period for Andrew Bolt when he pounded away at the “myths” of global warming armed with one chart, the infamous “pause”: Mr Bolt remains a denier today but his chart has disappeared.

Check out this triple somersault with four and half twists from Cities Minister Alan Drudge: Moving migrants into the regions and smaller cities would help fight climate change because congestion in Australia’s largest urban centres will fall, according to Population and Cities Minister Alan Tudge.

The AFR offers a useful debate about gas today, though is draws all the wrong conclusions as usual.

The scab grab in Aussie energy today is quite simply a bloody disgrace.

More warnings today from industry, via The Australian: The Australian Industry Group, which represents 60,000 manufacturing and industrial businesses, said the expected rise of gas prices on the east coast this summer back to near crisis levels threatens to dent the economy and reflects the government’s failure to sanction sound energy policies.