Gold! Gold for gas cartel in world record rort!

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While Straya celebrates a per capita medal tally so high that it disgraces the nation, the power it produces has taken gold for highest cost anywhere.

The East Coast gas cartel is in full rape mode this morning, with gas prices well above Albo farcical $12Gj price cap:

And, wait for it, electricity prices have gone berserk:

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Wind power has collapsed in the past 24 hours and gas has piled into the gap:

If you want to know what is causing the PPI spike amid collapsing global prices for everything, Albo’s incredible new power shock is it:

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Unless the gas cartel is addressed, this is the perfect example of Australia’s future. Every time there is a disruption to renewable supply, prices will explode owing to gas shortages.

The net result will be an endless energy shock impoverishing the nation.

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And now back to the synchronised swimming.

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.