The Albanese government is confident that its deal with the states provides it with a crucial political breather to cope with spiralling. But the cost of this comes in the form of opening a highly volatile, high-risk battle with gas producers, backed by most of the resources industry.
Credit Suisse energy analyst Saul Kavonic believes it represents “a declaration of war on the gas industry”. So far, the government is defiant about the confrontation, and Energy Minister Chris Bowen says he rejects the argument that “you need somehow elevated war profits to make investments work”. The federal government says its measures are temporary and needed to deal with unprecedented market shocks, particularly the invasion of Ukraine.
Such attempts to provide precise estimates of the impact on consumers were always going to be an exercise in politics rather than economics. The bottom-line impact for manufacturing businesses screaming about gas prices – as well as for coal and gas producers - is particularly vague.
'Political breather' says it all. They have no policies other than the political green bandwagon..... Just waiting for the blackouts to begin, and they will.
This article adds no value what so ever.
One hot summers day is all it will take to collapse the energy system