Policy bombshell for PM Turnbull. Read what Tony says – “Ending any further mandatory increase in the use of renewables”
The comprehensive book “He who must be Obeid” by Kate McClymont and Linton Besser details over 20 years of Labor corruption in NSW and has ~20 pages of Chapter notes (Endnotes) with many dozens of references to press articles (including exact headlines which are easily searched with Google). Amazon has a Kindle Edition.
I have scanned the 20 odd pages which are linked below if you click on “Continue reading”.
Over weeks & months I intend to post links online to all the press articles from the book that I can find using Google. For a start here are links to scans of the Endnotes. Continue reading
I will add to this list and links as ideas come in. We may be the lucky country but surely stupidity will extract a price one day. All these issues would make articles in their own right.
 AUSSAT $700mill losses & debts rolled over into Pay TV 1990’s,
 $6Bn Collins Class Submarines 1990’s – duds we are still stuck with,
 Electricity privatisations started in 1990’s – looking at our ballooning power prices would we have been better off keeping the old State Electricity Commissions? Despite the feather-bedded unions.
 MRET scheme making 3 worse and harming our electricity grid into the bargain – ongoing multi $Bn’s as taxpayers fund wind & solar that can never power our 24/7 grid,
 Defence purchases eg MRH-90 helicopters $4.2Bn,
 Frequently delayed and poorly performing F-35 fighters $24Bn alone,
 Eastern States Desalination plants ~$20Bn,
 Rudd Labor watering down border laws $11.6 billion over five years,
 Decades of anti-damism – after not building the Franklin Dam in the 80’s,
 Antifracking hysteria affecting gas exploration policy in face of rising prices,
 Building the Education Revolution $16.2Bn – More money for Education = worse results,
 Adelaide Hospital third most expensive building in the world $2.1Bn,
 Inability to control rogue unions like CFMEU which affects 12 and all other construction est +$10Bn,
 NBN a future $100Bn mediocre performer?
 Buying 12 French submarines before even a prototype is built future $50Bn,
 The GST carve up which rewards the basket case States SA & Tas.
 Various States and GreenLabor anti-nuclear policies.
 Climate change policies – have a effect in 4, 7, 10, multi-$Bn’s.
 Just been told about this from Toytown 17 Jan 2017. Amazing construction stuffup with Sydney Metro NorthWest rail bridge.
“Investigation reveals ‘disappointing’ failures in Skytrain construction”
Please send in useful links and analysis. I must have been half asleep to leave the Rudd MkI Pink Batts and School Halls stimulus projects off the list. Also forgot to add GreenLabor’s Murray Darling Basin Plan to waste more dam water to the ocean.
The chart is from data at AEMO Average Price Tables – and shows prices rising from the brief period of stability post June 2014 after the Carbon Tax was abolished.
The closure of the last coal fired generation in South Australia in May 2016 preceded the price explosion in June. Then in July the “Safeguard Mechanism” administered by the Clean Energy Regulator kicks in and is designed to make large emitters purchase Australian carbon credit units (ACCUs) if their emissions exceed a baseline. So that would tend to add costs which probably pass on into electricity prices. It is intriguing that while NSW, Qld and SA have seen firm prices in Spring 2016 compared to pre-May – Vic prices have weakened. The reasons for the spikes in Qld prices late 2014 to early 2015 and again in Feb 2016 are not known but operational shutdowns could be a cause. Check NemWatch for realtime generation.
There has to be a relationship between the cost of petrol in Australia and world oil prices. The ACCC has been in the news lately making various claims so I thought I would compare trends between world oil and pump petrol prices. I got world oil data from IndexMundi and ULP from the AAA. Full size chart.
Using these data the chart shows a period of relative price stability during all of 2010 where I am assuming no oil companies were going bankrupt – so the chart axes have been adjusted to bring WTI and ULP prices close for that period. 2011 saw world oil prices rise in AU$ but there was a period from Jun to Oct 2011 when the reduced WTI price produced no flow-on reductions in pump prices. Then again from Jun 2012 to Apr 2013 the reduced WTI price produced no flow-on reductions in pump prices. B marks a three month period where motorists might have clawed back some losses.
Then there was 12 months of relative price stability from Oct 2013 to Sep 2014 before the world oil price began its prolonged crash which is not ended even today. It is obvious that by the relative prices of 2010 pump prices should have remained a lot lower after Jan 2015.
Assuming Australia uses ~18Billion litres of petrol PA – the price gouging at say 2 yrs @ 10c per litre is of the order of $1,800Million PA extra lifted from motorists wallets. The Caltex CTX share price shows a marked appreciation after the start of 2014. I realize there may have been increases in Fuel Excise since 2010 but the amounts would be slight compared to the yawning gap in my chart.
Updating my chart of daily AEMO RRP prices across SA, NSW, Qld, Vic – we see the great South Australian price explosion of June which affected all states. Then by mid July prices in NSW, Qld, Vic were crashed back to pre-June levels – SA prices took a week or two longer to fall. Looking at the 30 day smoothed trend. For large chart.
Queensland prices have risen post July and rival levels in South Australia – why would this be?
New South Wales prices have risen post July but recent softness leaves the 30 day average just above $50.
Victorian prices have fallen post July and now look similar to April 2015.
South Australian prices slumped into September but since October continue their starring role.
It is interesting that the lunacy of negative daily prices is appearing in NSW. Periods of low prices tend to be when winds are strong – check chart to MW. NemWatch gives a realtime picture of generation.