Fifteen years of culture war politics and incoherent climate change policy led to the most clumsy and on-the-run interventions into the energy supply sector that has helped hold up Australia’s modern prosperity. Ashas warned, imposing domestic price caps on coal, and especially gas, come with a high risk of making Australia’s energy cost problem worse by ratcheting up political and sovereign investment risk and hence reducing supply.
As the Business Council of Australia said on Friday amid a global energy chaos beyond our control, the policy priority should be to avoid “the kind of domestic ad hoc intervention” that will make it worse. Yet as we report today, the Albanese government’s planned intervention into the east coast gas market goes beyond a 12-month temporary wholesale gas price gap and proposes a permanent “reasonable price provision” that would apply to all new supply from currently undeveloped gas fields.
The previous fetish of some on the political right in favour of coal and against putting a price on carbon has been replaced by the new fetish of the progressive left against the cleaner energy source that will help facilitate the massive transition to renewables and by a knee-jerk response to heavier government intervention that will only chill the needed new investment.
Calling Russia's domestic terrorism in Ukraine a war is a joke.
How much longer until mainstream media still doesn’t realise this I guess one down how many more to go if any
100% correct. It’s caused by blocking domestic energy supply: coal, gas, nuclear. You can sort it overnight by telling the green lobby to be quiet.
Price cap is too low. We should have introduced a super profit tax. Everything else being spewed by the energy cartel is pure propaganda.
gas &power is cheaper in WA n the miners have not gone bankrupt They dumped their social licence n they go after local consumer jugular
I can’t read this because of the paywall and as good as the FR is it is too expensive. But, I am very pleased they appear to be trying to get the full, real story out there. It is a complex issue and the ALP and Left media is pulling the wool over our eyes.
OPINION: The fin review wants to transfer even more of the nation's wealth to billionaire energy oligarchs
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