The cock up that is the east coast energy market

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Kwality

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Just a little over a month ago Morrison, Dutton and his supporters were saying there was no need to have a carbon pricing scheme because private sector 'technology breakthroughs' will see Australia meet reductions targets to 2050.

And yet we now have the same LNP supporters pointing to forecasts out to 2050 that assume NO technology breakthroughs in grid distribution and storage.

While conveniently ignoring both massive new renewable projects already under development and the fact that Australia has ample gas reserves owned by Australians to see us through the transition if only the previous government had put some effort into an energy policy framework that wasn't based on cheap climate wars politicking.

Fools and Hypocrites.

What is needed is a comprehensive and flexible national energy market policy framework. Including a complete overhaul of the current morass of state - commonwealth governance and oversight committees, boards and mechanisms that were designed decades ago with a focus on 1980s free market economics principles and have no place at a time when the sole goal is to ensure a reliable, safe and cost effective transition to a zero carbon environment over the coming decades.

We dont need a national plan being inflicted on WA who are light years ahead of the rest of Australia.

That other States have 'thrown the ball' continues to be ignored by those who want to 'blame the Feds' & give a free pass to both sides of politics who have set State policy.
Fools & hypocrites does sum up where we are & thats not just one side of politics.

We arent ignoring the developments under way, its the lack of a transparent timetable for the east coast transition to a 24/7 grid that fuels uncertainty.
'Forecasting ahead to 2050, it said the grid would require the equivalent of 50 new Snowy Hydro schemes to enter the market.'



I do agree there needs to be review of Commonwealth State arrangements but have been found wanting, but our electricity failures are a today problem.
 

Kwality

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Even the Snowy relies on weather:

'As Australia's power crisis began to ramp up early this month, Snowy Hydro was called on to increase production.'

'But the hydro-electric generator remains significantly constrained by a surprising problem — too much water.

It's only one example of how weather extremes have deepened the nation's man-made power crisis.

Snowy Hydro's biggest power station is Tumut 3. At maximum output, it can generate 1,800 megawatts of electricity.

That's as much as a large coal-fired power station, but with zero emissions.'

'Generation from Tumut 3 Power Station is significantly constrained by the current storage levels in Blowering Reservoir and the release capacity of the Tumut River.'

"In order to meet the predicted energy demands in the coming days, it is possible Blowering Reservoir will fill and spill, potentially exceeding the Tumut River channel capacity.

"In this scenario, there is potential for the inundation of low-level causeways and water breaking out of the river channel onto agricultural land adjacent to the river."
 

Number37

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Even the Snowy relies on weather:

'As Australia's power crisis began to ramp up early this month, Snowy Hydro was called on to increase production.'

'But the hydro-electric generator remains significantly constrained by a surprising problem — too much water.

It's only one example of how weather extremes have deepened the nation's man-made power crisis.

Snowy Hydro's biggest power station is Tumut 3. At maximum output, it can generate 1,800 megawatts of electricity.

That's as much as a large coal-fired power station, but with zero emissions.'

'Generation from Tumut 3 Power Station is significantly constrained by the current storage levels in Blowering Reservoir and the release capacity of the Tumut River.'

"In order to meet the predicted energy demands in the coming days, it is possible Blowering Reservoir will fill and spill, potentially exceeding the Tumut River channel capacity.

"In this scenario, there is potential for the inundation of low-level causeways and water breaking out of the river channel onto agricultural land adjacent to the river."

Did you catch Ken Henry on the ABC's The Business earlier tonight?

Entire schmozzle entirely predictable and completely avoidable had anyone done anything since 1997.

Repeat 1997.
Politics, political ambition and ideology above policy. Pointed the finger squarely at Abbott without mentioning his name.
 

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Northalives

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Did you catch Ken Henry on the ABC's The Business earlier tonight?

Entire schmozzle entirely predictable and completely avoidable had anyone done anything since 1997.

Repeat 1997.
Politics, political ambition and ideology above policy. Pointed the finger squarely at Abbott without mentioning his name.
Yes and whilst we are talking about political ideology above policy, we should take careful aim at the ALP's gutlessness at not going to a double dissolution and Brown and the Greens for putting ideology above policy.

The Green people around these parts and I don't mean the Herman Munster types, they are so wedded to the thought that Brown and the Greens were doing the right thing at the time by not unlocking the door to carbon reduction and transition to renewables, regardless of how small that was initially, they just don't understand that the single greatest step forward was opening the door to allow for carbon abatement, renewables and being able to follow and then lead as the rest of the world got serious.

This complete failure of policy at that time has led to gridlock with climate policy having nowhere to go and we find ourselves now in the ludicrous situation where the Business Council of Australia is far ahead of Government in climate and renewables policy/agenda and why, because there was/is no mechanism in place to be able to work within. Some just can't grasp the concept that you have to put the wheels in motion even if they are training wheels to begin with.

It's like learning how to ride a bike and that's what it was for the electorate at large in the late 2000's. It was about getting on the bike, falling off a few times, getting on again and learning to become proficient. The Greens wanted to be Cadel Evans from the off!

Now I know that what I have just written my make Johnny Bananas or whatever that gentleman calls himself laugh, as well as a couple of others flying into fits of rage at me having a go at the purer than pure Greens and the ALP but the consequences are right here in front of us.

We had absolutely diddly squat of a mechanism which we could reform and re-jig for over a decade and a half even though at the time, Greens and Bob Brown got a whopping 7.79% of the First Preference votes for the House Of Representatives and precisely zero seats in comparison to the ALP's 43.38% to hold 83 seats. In the Senate, the Greens scored 9.04% to the ALP's 40.30% with 32 ALP Senators and a massive 5 Green Senators who voted with the right wing flat earthers to stop the ALP CPRS from becoming law and giving us a mechanism through which we could move forward! We needed to have the Climate and Renewables door unbolted and made ajar so we could be able to go through it as the electorate started to come on board in even greater numbers.

We have an electoral system which means we are compelled to discharge our responsibility to the State and as such, you must bring the majority of people with you to be able to implement change and if that means compromising to a degree and negotiating a policy which, although is not everything you ideally want, so long as it creates the mechanism and sows the seeds of change which can grow and evolve than so be it.

It is far, far better this than to assassinate all hope of change in the future and that is what Brown and the Greens, Rudd and the ALP did.
 

Number37

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Yes and whilst we are talking about political ideology above policy, we should take careful aim at the ALP's gutlessness at not going to a double dissolution and Brown and the Greens for putting ideology above policy.

The Green people around these parts and I don't mean the Herman Munster types, they are so wedded to the thought that Brown and the Greens were doing the right thing at the time by not unlocking the door to carbon reduction and transition to renewables, regardless of how small that was initially, they just don't understand that the single greatest step forward was opening the door to allow for carbon abatement, renewables and being able to follow and then lead as the rest of the world got serious.

This complete failure of policy at that time has led to gridlock with climate policy having nowhere to go and we find ourselves now in the ludicrous situation where the Business Council of Australia is far ahead of Government in climate and renewables policy/agenda and why, because there was/is no mechanism in place to be able to work within. Some just can't grasp the concept that you have to put the wheels in motion even if they are training wheels to begin with.

It's like learning how to ride a bike and that's what it was for the electorate at large in the late 2000's. It was about getting on the bike, falling off a few times, getting on again and learning to become proficient. The Greens wanted to be Cadel Evans from the off!

Now I know that what I have just written my make Johnny Bananas or whatever that gentleman calls himself laugh, as well as a couple of others flying into fits of rage at me having a go at the purer than pure Greens and the ALP but the consequences are right here in front of us.

We had absolutely diddly squat of a mechanism which we could reform and re-jig for over a decade and a half even though at the time, Greens and Bob Brown got a whopping 7.79% of the First Preference votes for the House Of Representatives and precisely zero seats in comparison to the ALP's 43.38% to hold 83 seats. In the Senate, the Greens scored 9.04% to the ALP's 40.30% with 32 ALP Senators and a massive 5 Green Senators who voted with the right wing flat earthers to stop the ALP CPRS from becoming law and giving us a mechanism through which we could move forward! We needed to have the Climate and Renewables door unbolted and made ajar so we could be able to go through it as the electorate started to come on board in even greater numbers.

We have an electoral system which means we are compelled to discharge our responsibility to the State and as such, you must bring the majority of people with you to be able to implement change and if that means compromising to a degree and negotiating a policy which, although is not everything you ideally want, so long as it creates the mechanism and sows the seeds of change which can grow and evolve than so be it.

It is far, far better this than to assassinate all hope of change in the future and that is what Brown and the Greens, Rudd and the ALP did.

Hooley Dooley that was it rant.
I don't disagree with what you said, however, it only deals with one part of the problem.
What Ken Henry said was we should have been taxing the "super" profits of resources companies.
To put it into context...the LNP and its cronies argue that gas companies shouldn't be forced to sell part of their gas in Australia when the domestic price for gas is much lower than the world price. ie there is more money to be made by selling it on the world market...so they then argue that Australians should have to pay the exhorbitant world price for gas because reasons.
What Ken Henry said was that if we tax the profits of the gas companies, then one of the options it gives us is that we can use that tax to help offset Australians having to pay the world price. Basically a rebate. Great idea because the costs of production have risen nowhere near the rise in selling price. So gas companies are basically raking in super profits whilst we are left without electricity.
What Ken Henry also says is that we are a resources superpower, but we are not taking advantage of that status as a resources superpower, for the benefit of the whole country....Again the resources super profits tax.
What Ken Henry also said was in line with what you said concluding that we have f'd up our energy policy so much that at this point the only option we have is a 'gas led recovery'.
 

Kwality

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Hooley Dooley that was it rant.
I don't disagree with what you said, however, it only deals with one part of the problem.
What Ken Henry said was we should have been taxing the "super" profits of resources companies.
To put it into context...the LNP and its cronies argue that gas companies shouldn't be forced to sell part of their gas in Australia when the domestic price for gas is much lower than the world price. ie there is more money to be made by selling it on the world market...so they then argue that Australians should have to pay the exhorbitant world price for gas because reasons.
What Ken Henry said was that if we tax the profits of the gas companies, then one of the options it gives us is that we can use that tax to help offset Australians having to pay the world price. Basically a rebate. Great idea because the costs of production have risen nowhere near the rise in selling price. So gas companies are basically raking in super profits whilst we are left without electricity.
What Ken Henry also says is that we are a resources superpower, but we are not taking advantage of that status as a resources superpower, for the benefit of the whole country....Again the resources super profits tax.
What Ken Henry also said was in line with what you said concluding that we have f'd up our energy policy so much that at this point the only option we have is a 'gas led recovery'.

What did Henry say about WA & its gas reservation policy that other State Governments have chosen not to follow?
Or did he choose to ignore it ?
 

Kwality

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Someone needs to tell Chris Bowen he is relying on a bunch of States who are the problem - expecting them to extract the digit is sheer folly.

Chris Bowen says states can decide how to provide backup energy generation but must meet 2030 target​

Bowen said the generation mix was different in different parts of the country, with Queensland having younger coal generation assets. “It’s appropriate that states can implement this in a way that is suitable for their needs, but it will be within that national framework and it will complement our emissions target,” he said.
 

Number37

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What did Henry say about WA & its gas reservation policy that other State Governments have chosen not to follow?
Or did he choose to ignore it ?

Didn't ignore it, specifically referenced the different situation in WA.
My take away from what he was saying is that a 'reservation policy' is a limited solution because it only comes into play as a result of not doing any of the other things we should & could have done.
 

Kwality

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Didn't ignore it, specifically referenced the different situation in WA.
My take away from what he was saying is that a 'reservation policy' is a limited solution because it only comes into play as a result of not doing any of the other things we should & could have done.

'it only comes into play as a result of not doing any of the other things we should & could have done.'

WA did it & doesnt have the problems on the east coast - sounds like you are 'arse about' 37.
 

Kwality

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Byron Bay junior electricity operator Enova Energy collapses, with its CEO slamming the "diabolical" state of the energy market as broken and unable to support small retailers amid soaring prices.

Enova, which branded itself as Australia's first community-owned electricity retailer, was placed into voluntary administration on Tuesday morning after failing to seal wholesale energy price hedging after a deal with Melbourne's Diamond Energy lapsed.

 

Northalives

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Hooley Dooley that was it rant.
I don't disagree with what you said, however, it only deals with one part of the problem.
What Ken Henry said was we should have been taxing the "super" profits of resources companies.
To put it into context...the LNP and its cronies argue that gas companies shouldn't be forced to sell part of their gas in Australia when the domestic price for gas is much lower than the world price. ie there is more money to be made by selling it on the world market...so they then argue that Australians should have to pay the exhorbitant world price for gas because reasons.
What Ken Henry said was that if we tax the profits of the gas companies, then one of the options it gives us is that we can use that tax to help offset Australians having to pay the world price. Basically a rebate. Great idea because the costs of production have risen nowhere near the rise in selling price. So gas companies are basically raking in super profits whilst we are left without electricity.
What Ken Henry also says is that we are a resources superpower, but we are not taking advantage of that status as a resources superpower, for the benefit of the whole country....Again the resources super profits tax.
What Ken Henry also said was in line with what you said concluding that we have f'd up our energy policy so much that at this point the only option we have is a 'gas led recovery'.
Spot on.

We really do need to start taking back the farm.

In SA, the one term Liberal morons wanted to give (bribe) $67 million to the privates so they would establish a Hydrogen Hub at Port Bonython near Whyalla. The incoming Labor Government has given the incompetent Liberal Government's "plan" short shrift and has dumped it into the rubbish bin, just where the SA Liberals have been put by the people of SA.

A short excerpt from a story written in the Advertiser by Miles Kemp a few days ago:

The previous Liberal Party government advocated a $13bn private sector backed hydrogen hub at Port Bonython north of Whyalla.

Mr Koutsantonis has other ideas, a huge taxpayer fillip of $593m to get the hydrogen ball rolling.

Mr Crafter heads the Office of Hydrogen Power within Mr Koutsantonis’s Department for Energy and Mining.

The office will remain under the minister’s tight control and as per Labor’s anti-privatisation stance, ownership of the asset will remain in taxpayers’ hands.

The government’s Hydrogen Power South Australia will then operate as a business at arm’s length, producing the product but also facilitating billions in private sector development.


This has to be the way forward for Australia.
 

Gralin

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Man I do love how people keep blaming the greens, who have never been in power for the current mess
 

Kwality

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The ESB is correct that numerous generators, particularly coal power plants, will face significant challenges for their viability as wind and solar grows.

In February 2021 we issued a report highlighting that an influx of renewable energy supply expected by 2025 could reduce the revenues earnt by coal power plants by 44% to 67% (based on wholesale spot market outcomes).
This loss of revenue was likely to be so severe that five coal generators could be operating at a loss by 2025 – Yallourn, Eraring, Vales Point, Gladstone and Mt Piper.

Our analysis was subsequently proven correct with the closures of Yallourn and Eraring being brought forward. The operators have given several years’ advance warning of the closures.

This is where the ESB proposal has failed to deal with the issue at hand. The issue is not so much that coal power plants will withdraw, which is inevitable if we are to meet climate goals, but rather the problem is the potential timing mismatch in which they might withdraw before we have built replacement capacity.

The issue for potential investors in new dispatchable replacement capacity is that the financial viability of their investment in new plants hinges on the exit of coal power plants. Investors are better placed holding off on an investment in new capacity until they have confidence that coal capacity will exit permanently.

 

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QuietB

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Spot on.

We really do need to start taking back the farm.

In SA, the one term Liberal morons wanted to give (bribe) $67 million to the privates so they would establish a Hydrogen Hub at Port Bonython near Whyalla. The incoming Labor Government has given the incompetent Liberal Government's "plan" short shrift and has dumped it into the rubbish bin, just where the SA Liberals have been put by the people of SA.

A short excerpt from a story written in the Advertiser by Miles Kemp a few days ago:

The previous Liberal Party government advocated a $13bn private sector backed hydrogen hub at Port Bonython north of Whyalla.

Mr Koutsantonis has other ideas, a huge taxpayer fillip of $593m to get the hydrogen ball rolling.

Mr Crafter heads the Office of Hydrogen Power within Mr Koutsantonis’s Department for Energy and Mining.

The office will remain under the minister’s tight control and as per Labor’s anti-privatisation stance, ownership of the asset will remain in taxpayers’ hands.

The government’s Hydrogen Power South Australia will then operate as a business at arm’s length, producing the product but also facilitating billions in private sector development.


This has to be the way forward for Australia.
Union power is no longer an excuse to privatise everything that is not bolted down
 

Northalives

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Man I do love how people keep blaming the greens, who have never been in power for the current mess
Yep, they have never been in power but they certainly stick their f****ng noses in and behave like they are in power even though, at the 2007 election, they got 7.79% and 9.04% of the vote in the Reps and Senate respectively and a massive, massive representation of 5 Senators and yet, they thought they could just thwart the will of the people who overwhelmingly supported the ALP and their Climate and Carbon abatement policy agenda.

You are right though, one can't blame the f****ng pretentious, self seeking Brown and his Green puppy dogs in the Senate; the blame lies with the gutless Rudd/ALP and the fiefdoms that protected Rudd from not calling a double dissolution and putting Brown and the Greens in their place once and for all.

It's amazing how you Super, just don't comprehend the abominable role Brown and the Greens played in condemning Australia into being moribund on Climate policy and Carbon abatement for over a decade and a half.

I'll repeat for you the undeniable facts as to the State of the Houses at the end of the 2007 election just in case you've forgotten:

House Of Representatives
ALP 43.38% (+5.74%) First Preference votes to hold 83 seats
Greens 7.79% (+0.60%)First Preference vote to hold 0 seats

Senate
ALP 40.30% (+5.28%) First Preference votes and 32 Senators
Greens 9.04% (+1.37%)First Preference votes and 5 Senators

Any fair minded person who is not just a partizan, party political apparatchik would see that from these numbers, the ALP had a very strong mandate from the people of Australia to implement their climate, carbon and renewables polices. Bob Brown and the Greens were just bloody minded and the ALP were f****ng stupid in not wiping out Brown as a political figure by not going to a double dissolution election. This could well have resulted in the Greens losing Senate seats, it would definitely have finished Brown as a political "leader".

I wholeheartedly agree with the aims and ideals of the Greens. I also agree with much of ALP policy and I despise the LNP but I am not beholden to any of those parties or anyone else for that matter - none of them have me by the balls.

The Greens along with the ALP MUST take responsibility for where we find ourselves now. The LNP are just pigs so we know what they do and the Greens and the ALP made it piss easy for them to protect and even enhance the lot of the toxic, ancient technology vested interests.

You can keep deluding yourself Mr. Super that Mr. Brown and the Greens played no part in where we find ourselves but that won't change the reality.
 
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Number37

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'it only comes into play as a result of not doing any of the other things we should & could have done.'

WA did it & doesnt have the problems on the east coast - sounds like you are 'arse about' 37.

You are completely ignoring that a reservation policy is there should the s**t hit the fan/ a last resort.
That our energy policy is so f'd up that we go so quickly from having enough electricity to the s**t hitting the fan/ the last resort should tell you how f'd up our energy policy is.
That it doesn't tell you how f'd up our energy policy is quite disturbing.

Gas reserves are like lifeboats on a ship.
Instead of questioning why the captain is steering a treacherous course when there are clear alternatives, you're here telling everyone not to worry about the captain steering a treacherous course because we got lifeboats.
 

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Festerz

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Spot on.

We really do need to start taking back the farm.

In SA, the one term Liberal morons wanted to give (bribe) $67 million to the privates so they would establish a Hydrogen Hub at Port Bonython near Whyalla. The incoming Labor Government has given the incompetent Liberal Government's "plan" short shrift and has dumped it into the rubbish bin, just where the SA Liberals have been put by the people of SA.

A short excerpt from a story written in the Advertiser by Miles Kemp a few days ago:

The previous Liberal Party government advocated a $13bn private sector backed hydrogen hub at Port Bonython north of Whyalla.

Mr Koutsantonis has other ideas, a huge taxpayer fillip of $593m to get the hydrogen ball rolling.

Mr Crafter heads the Office of Hydrogen Power within Mr Koutsantonis’s Department for Energy and Mining.

The office will remain under the minister’s tight control and as per Labor’s anti-privatisation stance, ownership of the asset will remain in taxpayers’ hands.

The government’s Hydrogen Power South Australia will then operate as a business at arm’s length, producing the product but also facilitating billions in private sector development.


This has to be the way forward for Australia.

A link to the SA Hydrogen Jobs Plan is here:


I am a little disappointed to see that the new 'Office of Hydrogen Power' that the newly elected SA Labor Government has created will be headed by a Labor Party favourite rather than an independent and well recognised leader in the field. Sam Crafter is the son of former ALP MP and Minister Greg Crafter who has previously worked as a political minder in the Rann government for many years before being slotted into a government liaison sinecure in oil and gas giant Santos Ltd.


I just think appointing a recognised and qualified expert to that role, rather than a politically aligned colleague, would have been a better move.
 
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Gralin

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Yep, they have never been in power but they certainly stick their f****ng noses in and behave like they are in power even though, at the 2007 election, they got 7.79% and 9.04% of the vote in the Reps and Senate respectively and a massive, massive representation of 5 Senators and yet, they thought they could just thwart the will of the people who overwhelmingly supported the ALP and their Climate and Carbon abatement policy agenda.

You are right though, one can't blame the f****ng pretentious, self seeking Brown and his Green puppy dogs in the Senate; the blame lies with the gutless Rudd/ALP and the fiefdoms that protected Rudd from not calling a double dissolution and putting Brown and the Greens in their place once and for all.

It's amazing how you Super, just don't comprehend the abominable role Brown and the Greens played in condemning Australia into being moribund on Climate policy and Carbon abatement for over a decade and a half.

I'll repeat for you the undeniable facts as to the State of the Houses at the end of the 2007 election just in case you've forgotten:

House Of Representatives
ALP 43.38% (+5.74%) First Preference votes to hold 83 seats
Greens 7.79% (+0.60%)First Preference vote to hold 0 seats

Senate
ALP 40.30% (+5.28%) First Preference votes and 32 Senators
Greens 9.04% (+1.37%)First Preference votes and 5 Senators

Any fair minded person who is not just a partizan, party political apparatchik would see that from these numbers, the ALP had a very strong mandate from the people of Australia to implement their climate, carbon and renewables polices. Bob Brown and the Greens were just bloody minded and the ALP were f****ng stupid in not wiping out Brown as a political figure by not going to a double dissolution election. This could well have resulted in the Greens losing Senate seats, it would definitely have finished Brown as a political "leader".

I wholeheartedly agree with the aims and ideals of the Greens. I also agree with much of ALP policy and I despise the LNP but I am not beholden to any of those parties or anyone else for that matter - none of them have me by the balls.

The Greens along with the ALP MUST take responsibility for where we find ourselves now. The LNP are just pigs so we know what they do and the Greens and the ALP made it piss easy for them to protect and even enhance the lot of the toxic, ancient technology vested interests.

You can keep deluding yourself Mr. Super that Mr. Brown and the Greens played no part in where we find ourselves but that won't change the reality.
Oh man
Gillard and the greens made policy which Abbott reversed
Rudd being a sook is in Rudd
ALP haven't been starting on climate in opposition either and are still weak now, is only compared to the abomination that was the last 9 years of coalition climate policy
 

Carn The Berries

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A link to the SA Hydrogen Jobs Plan is here:


I am a little disappointed to see that the new 'Office of Hydrogen Power' that the newly elected SA Labor Government has created will be headed by a Labor Party favourite rather than an independent and well recognised leader in the field. Sam Crafter is the son of former ALP MP and Minister Greg Crafter who has previously worked as a political minder in the Rann government for many years before being slotted into a government liaison sinecure in oil and gas giant Santos Ltd.


I just think appointing a recognised and qualified expert to that role, rather than a politically aligned colleague, would have been a better move.
You mean the ALP make appointments that are more political than practical? And here was I thinking that it was only the domain of the LNP. Colour me shocked.
 

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'it only comes into play as a result of not doing any of the other things we should & could have done.'

WA did it & doesnt have the problems on the east coast - sounds like you are 'arse about' 37.
You arent taking into account that there are two states over east that dont produce f/a gas.

So how are they going to reserve gas for themselves like we do. They cant order qld to reserve gas for them because the states own their own resources.

A super tax on resources would allow the federal government to use that money to subsidise the non gas producing states to have the same effect as reserving gas.
 

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Excellent little piece on the failure of the National Electricity Market.


Love Quiggin. Has a skill of communicating economic concepts in easy to understand language
 

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Footscray
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Western Bulldogs
Other Teams
Footscray, Coney Island Warriors
You arent taking into account that there are two states over east that dont produce f/a gas.

So how are they going to reserve gas for themselves like we do. They cant order qld to reserve gas for them because the states own their own resources.

A super tax on resources would allow the federal government to use that money to subsidise the non gas producing states to have the same effect as reserving gas.
It would also act as an economic incentive to supply the Australian market, while potentially adding to general revenue.

Makes far too much sense for government to do it.
 

Carn The Berries

Club Legend
Sep 16, 2008
1,092
999
Perth
AFL Club
Melbourne
Sure as s**t that royalties go up the mining companies pretend they're going to abandon ship. All that's left is for them to start bleating about sovereign risk like it actual means something.
Given that there are people currently advocating for the nationalisation of resources I would say that there is at least a small level of sovereign risk in the market.
 

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