Albo’s nation-gutting energy shock is slowly ebbing as we move into Spring shoulder season for power:
However, do not expect the lows of last year to return while gas is glued to Albo’s catastrophic $12Gj price floor:
The Albanese government’s failure to fix gas markets is on full display today as the entire parliamentary pet shop squawks every which way:
Teal MPs and the Greens are demanding an end to new gas projects, complicating Anthony Albanese’s backing of the resource should he find himself needing crossbench support to form minority government.
Of the 22 crossbenchers approached by The Australian, excluding the Greens, nine urged an immediate end to new gas exploration, while another three called for the energy source to be phased out as soon as possible. Three others did not respond.
The Greens, which holds four seats in the lower house and 11 seats in the upper house, said its calls for a ban on new coal and gas would factor heavily into any discussions with government on guaranteeing supply.
This is retarded. Where have they all been for the last fifteen years as the crisis mounted? That’s how long I have been writing about it.
Even now, planting your flag on more or less projects is entirely beside the point.
The problem is neither supply nor demand; it is market structure.
More projects won’t help bring down prices or stabilise the power grid while the gas export cartel controls volumes in the local market.
Fewer projects can still lower prices and stabilise the grid if the gas export cartel is broken.
Address the cartel with blanket domestic reservation or export levies or become a failed state.
