Australian (ASX) Stock Market Forum

The Albanese government

Who is going to be the first to try and knife Airbus next year?

  • Marles

    Votes: 1 9.1%
  • Chalmers

    Votes: 3 27.3%
  • Wong

    Votes: 1 9.1%
  • Plibersek

    Votes: 3 27.3%
  • Shorten

    Votes: 2 18.2%
  • Burney

    Votes: 0 0.0%
  • Other

    Votes: 1 9.1%

  • Total voters
    11
Read some where it was the Gillard Government that issued the gas licences without holding back provisions.
I don't think anyone is really to blame as such, 10 years ago renewables were in their infancy really and the East Coast obviously had many sources of gas supply, probably no one at the time gave it a thought.
Hindsight is a wonderful thing, but really the focus needs to be on the way forward, in a sensible holistic way.
W.A was in a unique position, we actually were very dependent on one source of LNG for quite some time, so supplies from that source were imperative. :2twocents
 
It is good to see something will be done about MyGov, the people I speak to who uses it, say it is a nightmare.


Labor wants to end the “digital workhouse” approach to people trying to get government payments, with new minister Bill Shorten planning to turn using myGov from an often-frustrating experience into a seamless one.
Shorten is taking briefings on his new government services portfolio but wants to get moving immediately on a user service audit of myGov, the online entry portal into services such as Centrelink, Medicare and the Australian Taxation Office.
 
It is good to see something will be done about MyGov, the people I speak to who uses it, say it is a nightmare.


Labor wants to end the “digital workhouse” approach to people trying to get government payments, with new minister Bill Shorten planning to turn using myGov from an often-frustrating experience into a seamless one.
Shorten is taking briefings on his new government services portfolio but wants to get moving immediately on a user service audit of myGov, the online entry portal into services such as Centrelink, Medicare and the Australian Taxation Office.
I wish him luck :xyxthumbs
 
WA has the advantage that it operates on its own while the Eastern States are connected in energy and dodgy politics. Angus Taylor had the opportunity to pursue gas reservation but he didn't act. Do nothing government or were receiving donations towards the election?

From his own internet page so you don't have to deal with the media.
That is the narrative the media has been selling for quite some time, now that the Labor /Greens are in power the narrative adjusts.
A very good article on the state of affairs, it is a pleasant change to get a full article, rather than a politically orientated one..

From the article:
Unlike their WA counterparts, east coast state governments gave local and multinational energy firms carte blanche to export as much as they'd like.

The real cause for the crisis, however, relates to a catastrophic blunder dating back more than a decade during the Queensland coal seam gas boom.

The energy giants over-estimated the amount of gas in the ground and contracted to sell more gas offshore than they could source.

To cover the shortage, they since have plundered local gas supplies, pushing domestic prices higher.

Their foreign customers now enjoy much cheaper Australian gas than Australians.

Turnbull's gas crisis redux​

This isn't the first time we've faced a gas crisis. In 2017, then Prime Minister Malcolm Turnbull was forced to bring the gas exporters to heel.

Australia had just overtaken Qatar as the world's biggest exporter of Liquefied Natural Gas. But the domestic market was facing shortfalls as the exporters squeezed supplies to meet their offshore commitments.

As ridiculous as it sounds, it was cheaper to buy Australian gas offshore, ship it all the way back home and reconvert it from liquid to gas, than to buy it on the local market.

In response, Turnbull created the Australian Domestic Gas Security Mechanism — a strategy designed to limit exports in the event of a domestic shortage.

While it's never been triggered, its creation and the threat it may be used, restrained some of the worst excesses of the exporters.
 
Last edited:
As I said early in the piece, Albo's biggest challenge will be working with the Greens.

And Albo's real battle begins.

Greens leader Adam Bandt says the party has a mandate to stop new coal and gas mines and warned the Labor government that it will use its balance of power in the Senate to introduce legislation to block new mines.
The Greens look set to quadruple their lower house representation by robbing the LNP of their Queensland seats of Brisbane and Ryan and booting Labor frontbencher Terri Butler from the seat of Griffith.

Now this facing the new energy minister Madelaine King.
From the article:
Federal Resources Minister Madeleine King has warned there may be little the government can do to reduce soaring wholesale gas prices in the short-term.
Ms King has been urging the chief executives of Australia's biggest gas producers to get more supply into the domestic market, which could lead to cheaper wholesale spot prices.

"I am assured by them that they are doing everything they can — both maximising production in their plants and seeking to maximise supply into New South Wales and Victoria," Ms King told the ABC.
Gas giant Santos has also announced it will expand its operations in the Cooper Basin, which spans the South Australian-Queensland border.
The company's managing director Kevin Gallagher says an additional 15 terajoules of gas per day could hit the domestic market by the end of the year.

Labor's support for gas development has been criticised by the Greens – which have a greater representation in the 47th Parliament – and want to stop new gas projects.

"Methane gas is more expensive than renewables, up to 86 times worse for the climate than carbon dioxide and is responsible for up to 12 per cent of the burden of childhood asthma," Greens leader Adam Bandt said last week.


"Opening up new gas projects is a climate crime."


Oh dear. :whistling:
 
WA has the advantage that it operates on its own while the Eastern States are connected in energy and dodgy politics. Angus Taylor had the opportunity to pursue gas reservation but he didn't act. Do nothing government or were receiving donations towards the election?

From his own internet page so you don't have to deal with the media.
Well why isn't the new Government pursuing a gas reservation policy? I'll let the new minister explain, then you can stop blaming the last minister, maybe let the media know. :roflmao:
The narrative is on the move, now nothing will be the Govt's fault, until the media run out of reasons to blame the last Govt, then it will be open season on this Govt.
Wash, rinse, repeat, ah the theatre of it. :xyxthumbs
From the article:
The reservation policy has spared WA from soaring gas prices, but Ms King argued it would be hard to implement on the east coast.

"The gas reservation policy of Western Australia was a very great political struggle to introduce, it was very hard on the then state Labor government, and a lot of people lost a lot of political skin in that fight," she said.

"It was also part of the design of the export industry — so it came in at the same time, and was also part of, the investment decisions of international investors into the WA gas production system.

"That kind of system is very hard to reverse engineer now on the east coast, [the] export market was developed without that in place, investment decisions were made without that restriction."

All of a sudden it is hard to reverse engineer. :wacky:
So is putting common sense into the general public. ?
 
"The gas reservation policy of Western Australia was a very great political struggle to introduce, it was very hard on the then state Labor government, and a lot of people lost a lot of political skin in that fight," she said.

Politics above the national interest ?

Not a good start Ms King.
 
Well why isn't the new Government pursuing a gas reservation policy? I'll let the new minister explain, then you can stop blaming the last minister, maybe let the media know. :roflmao:
I will blame them if they do nothing. At present they are making noises. Only been in a week.

i know we aren't allowed to mention the previous government who are blameless in every way.

Coal prices are extremely high forcing the price up also.

1654570516591.png
 
Politics above the national interest ?
Not a good start Ms King.
The Coalition did not want a gas reservation policy, with Turnbull ensuring at the federal level a supply "trigger" mechanism was preferred, and is now locked in. It's proven totally useless, and needs to be overridden if we are serious about our economy ahead of other nation's.

What has happened under the Coalition is an open book. Energy companies were screaming for investment certainty and never got it. Instead they took the low road of cheap renewables and have not been backed up with the necessary grid infrastructure. Rather they lose tens of millions on a gamble than a few billion at a time on potentially stranded assets!
 
I will blame them if they do nothing. At present they are making noises.
Coal prices are extremely high forcing the price up also.

View attachment 142622
I wasnt having a go, just pointing out how the general public can be given a perception, when the reality is completely different.
It wasnt Duttons fault there was no reservation policy, but that was the perception the public were given to believe.
As has been said on numerous ocassions, the onshore gas reservation is a State issue, not a Federal one. That is why W.A has a gas reservation policy, despite what the ranters and chanters rave on about.Lol
The Feds have huge gas reserves offshore in the NW of W.A, whether they decide to use them is another thing.
They could have implemented a reservation policy back when they vave tbe ok to extract the Federal gas. Ooops, lol
 
Last edited:
The Feds have huge gas reserves offshore in the NW of W.A, whether they decide to use them is another thing.
Well they can't as they don't have gas reservation policy, as you note. The feds just regulate offshore oil and gas activity.

However, this seems to have escaped a lot of people's attention:
"The Agreement, signed by Prime Minister Scott Morrison and LNG exporters, Australia Pacific LNG, Queensland Curtis LNG and Gladstone LNG will help secure competitively priced gas supply for the east coast market at least until 2023."
My calendar still shows 2022, not 2023, so that was a fail on time and price!
 
The Feds own offshore resources as I previously posted, you need to get out of electioneering mode, Labor won you can relax. ;)

The agreement between Dutch Shell and the then Gillard Government, to allow Shell to extract and process Australia's Federal offshore reserves, while not reserving any for Australia.
My calendar shows that was 2013 under the Gillard Government, when Gary Gray was resources minister, but don't let that get in the way of your narrative. ?
You tell a great story, you should write children's books, your rhetoric revolves around fantasy. ?


https://www.news.com.au/national/we...t/news-story/33ad9094cb30216a684007754e37ac68
From the article:
FEDERAL Resources Minister Gary Gray has varied the conditions on five of the seven Browse retention leases clearing the way for a floating processing plant.
Premier Barnett confirmed this evening the state government was still mulling over the decision, claiming the Commonwealth had rushed the approval.

“The State Government is still pursuing the appropriate development option which includes the appropriate benefits for Western Australia including onshore processing of gas, a supply base and domestic gas obligations,” he said.
“It’s a pity that the Commonwealth and State’s position is not aligned,” he said.

Mr Gray has long supported the floating technology, but today said the new conditions of the lease did not specify any development concept.

"It was clear that the Browse Joint Venture did not consider development of James Price Point to be commercially viable,” he said.

“I take the view that companies, not governments, are best placed to determine which developments are commercially viable, subject of course to environmental and regulatory requirements."

He said Australia needed to provide an “environment for commercial decision-making” or risk missing out on investment.


“Australia, Western Australia and the communities of the Kimberley cannot afford to delay any longer, which is why I have made this decision."

Australian Manufacturing Workers’ Union WA state secretary Steve McCartney was quick to criticise the decision, saying it put royalties before West Australian jobs and simply gave the consortium what it wanted.

“This decision means lost jobs, lost opportunity and lost economic development for Western Australia,” he said.

“It also delivers a severe blow to local communities, especially the most disadvantaged, by taking away opportunities for real jobs and real skills development.

“Manufacturers, construction workers and all the smaller Australian contractors that feed off our LNG industry will all lose because of this decision.”
 
Or the agreement between Dutch Shell and the then Gillard Government, to allow Shell to extract and process Australia's Federal offshore reserves, while not reserving any for Australia.
My calendar shows that was 2013 under the Gillard Government, when Gary Gray was resources minister, but don't that get in the way of your narrative. ?
https://www.news.com.au/national/we...t/news-story/33ad9094cb30216a684007754e37ac68
From the article:
FEDERAL Resources Minister Gary Gray has varied the conditions on five of the seven Browse retention leases clearing the way for a floating processing plant.
Premier Barnett confirmed this evening the state government was still mulling over the decision, claiming the Commonwealth had rushed the approval.

“The State Government is still pursuing the appropriate development option which includes the appropriate benefits for Western Australia including onshore processing of gas, a supply base and domestic gas obligations,” he said.
“It’s a pity that the Commonwealth and State’s position is not aligned,” he said.

Mr Gray has long supported the floating technology, but today said the new conditions of the lease did not specify any development concept.

"It was clear that the Browse Joint Venture did not consider development of James Price Point to be commercially viable,” he said.

“I take the view that companies, not governments, are best placed to determine which developments are commercially viable, subject of course to environmental and regulatory requirements."

He said Australia needed to provide an “environment for commercial decision-making” or risk missing out on investment.


“Australia, Western Australia and the communities of the Kimberley cannot afford to delay any longer, which is why I have made this decision."

Australian Manufacturing Workers’ Union WA state secretary Steve McCartney was quick to criticise the decision, saying it put royalties before West Australian jobs and simply gave the consortium what it wanted.

“This decision means lost jobs, lost opportunity and lost economic development for Western Australia,” he said.

“It also delivers a severe blow to local communities, especially the most disadvantaged, by taking away opportunities for real jobs and real skills development.

“Manufacturers, construction workers and all the smaller Australian contractors that feed off our LNG industry will all lose because of this decision.”

Does anyone else get the feeling of a parallel universe in which roles are reversed ?

The Libs usually act in the interests of big business, but a Liberal Premier Barnett acted in the interest of his State, Labor say they act in the national interest but Gillard lets big business take what they want. (Gough would never have done that).

What is the world coming to ? o_O
 
Does anyone else get the feeling of a parallel universe in which roles are reversed ?

The Libs usually act in the interests of big business, but a Liberal Premier Barnett acted in the interest of his State, Labor say they act in the national interest but Gillard lets big business take what they want. (Gough would never have done that).

What is the world coming to ? o_O
That's why the rusted on attitude people get is so badly misplaced, Barnett was great, McGowan is great.
It doesn't come with the party, it comes with politicians who give a $hit and put the interests of Australia first. :wheniwasaboy:
 
That's why the rusted on attitude people get is so badly misplaced, Barnett was great, McGowan is great.
It doesn't come with the party, it comes with politicians who give a $hit and put the interests of Australia first. :wheniwasaboy:
I must admit I'm impressed by Albo and his team.

I've been a member of 4 political parties in my time, Country, Nationals, LNP and ALP, ( not necessarily in that order and more than once at different stages in the cycle ) as I always liked to be in with the party in power.

I have absolutely no shame, it is all about me, my family, my friends, my State and Australia, and if you are not with the party in power you cannot influence anything. Nobody in the local branches or head offices seemed to mind.

I'm no longer a member of any party now.

I'm hoping that that this ALP Government will have the vision and actions of Keating, even though a few of my mates went broke from interest rates and won't have a bar of him.

gg
 
Albo has come out of the gates well, he could become one of Australia's great PM's IMO, he has a challenge ahead and I think he is the right person to sort it.
 
Albo has come out of the gates well, he could become one of Australia's great PM's IMO, he has a challenge ahead and I think he is the right person to sort it.
He seems to be able to get on with most people and doesn't rub anyone up the wrong way.

Of course the media (Sky) will say he's not tough enough but that's their problem.
 
He seems to be able to get on with most people and doesn't rub anyone up the wrong way.

Of course the media (Sky) will say he's not tough enough but that's their problem.
Well I think the main thing that resonates with real Aussies, is the fact he isn't up there trying to big note himself, he doesn't speak mandarin, doesn't speak like a merchant banker, doesn't wear budgie smugglers, doesn't wail at everyone that that they are being picked on, yet has flaws.

You have to admire a guy, that obviously has to punch above his weight, to stay relevant in the $hit pit of politics.

He has, he now has his opportunity and if he is half as smart as I think he is he will measure twice and cut once, rather than shoot from the lip like a lot from both sides of politics have done.

As for sky media I've never watched it, but I'm sure both sides of the media balance each other out, if people weren't smart Shorten would have been in last election. It wasn't because of Murdoch or Sky media, it was because the silent majority aren't stupid, as this election showed.

The facts lay somewhere between what the left leaning media say and what the right leaning media say, when they cover the same issue, as is being proven with the gas issue at the moment.
The real problems with the energy crisis over East now is, the States who really are the ones for the problems regarding gas, can't take the easy out and blame the Feds that door has closed.
Now the tide is going out, the ones who really stuffed up are going to be caught out swimming naked. Gilding their States with royalties while not allocating anything for domestic reserve, I wonder if ICAC was around then?
 
Last edited:
He seems to be able to get on with most people and doesn't rub anyone up the wrong way.

Of course the media (Sky) will say he's not tough enough but that's their problem.
I think people have woken up to Sky and all that other Murdoch crap after what happened with Turnbull and Rudd prior to that and for the first time in a decade they played little part in this election. Icing on the cake if they spent millions doing it :)
 
Top