Petrol Price crisis......

[jpd80]

Originally Posted by Itsme

Hmmm you should keep that quiet since it is illegal.

It was made illegal by the gas companies to force people to buy Autogas, way more expensive than propane refills.
Yes I know, if it’s allowed, some nupty will get it wrong, incinerate himself and others but how many decades have people driven around with Jerry cans in their vehicles or worse, garages where fumes build up….

[DJR-351]

[FairmontGS]

Tanked the Fiesta today for 1.79$ in Marrick Vile

[Citroënbender]

Originally Posted by Itsme

Hmmm you should keep that quiet since it is illegal.

I’d think the “illegal” part - if that is so - would be the act of filling the tank this way on a road-related area. Not carrying the bottles or possessing the hose, nor filling it up this way on exclusive private property. Good old Nanny State, might as well mention the ARC while I’m on a roll.

[Itsme]

Originally Posted by Citroënbender

I’d think the “illegal” part - if that is so - would be the act of filling the tank this way on a road-related area. Not carrying the bottles or possessing the hose, nor filling it up this way on exclusive private property. Good old Nanny State, might as well mention the ARC while I’m on a roll.

Just made the comment since I once owned cars that ran on gas and use to do the same as you many moons ago .

[Franco Cozzo]

More gas news:

'Stupid' gas policies led to energy crisis in eastern states, say former premiers

To former Western Australian premier Colin Barnett, the reaction at international meetings first came as something of a surprise.

But pretty soon he began to expect it.

After a while, he could even see the dark humour involved.

"During my travels as premier I had governments internationally — and I'm talking about national governments — just basically laughing … that Australia is crazy not preserving some of its gas," Mr Barnett said.

"They weren't laughing at me," he said of WA's quite singular Australian state policy of quarantining 15 per cent of gas for its own market.

https://www.abc.net.au/news/2022-06-...iers/101143558

Dunno if I'd use 'stupidity', more like 'corrupt, second rate retards' who couldn't even land a job in a sheltered workshop outside of parliament house without making dodgy deals.

We should put them up on a sham trial like Nicolae Ceaușescu got in Romania

[Sprintey]

Great historical reference there Franco!

Yep, a very silly country. Surely self interest is providing for your own, first.

[Franco Cozzo]

Originally Posted by Sprintey

Great historical reference there Franco!

Yep, a very silly country. Surely self interest is providing for your own, first.

Thats one way to fix it, I wouldn't be as nice as others with how I'd handle our political class who have made these 'questionable oversights' at the cost of the rest of us in exchange for cushy alphabet positions with resource companies after they get voted out, for those not familiar go to Google Images and put in Nicolae Ceaușescu and look at the second image, thats him and his wife. My 'national anti-corruption commission' is much more cost efficient and delivers instant results.

European context is a good one to use, particularly dodgy ex 'Eastern bloc' countries like Romania or ones like Italy where they're often the joke of the 'democratic world'/Western societies for political corruption.

The only difference between Italy and Australia, is Italy acknowledges it has a problem with its questionable political class where as we just deny it and put our heads in the sand, whether its being one of the worlds largest exporters of gas and stiffing our own people by creating shortages in our domestic market, of a resource we have an abundance of, or water rights/irrigation scams

[Sprintey]

Yes, reminds me of the end of Benito Mussolini and his Mrs, at the petrol station iirc.

You'd be thrilled to know on top of everything else occuring, Italian sovereign bonds are currently having an ugly spike in yields, a bit like the heady PIIGS days of 2011... help us, Germany...

[Sprintey]

To be fair, it isn't entirely the Italian (or PIIGS) fault. The euro was designed as a brilliant mechanism whereby the European currencies were averaged - so if you came from the south, your currency averaged up in value and your manufacturers died out, but if you were Germany, you now could export to the world at about a 30% discount. The result of this has been the most amazing mercantilism, just with southern Europe teetering above continual bankruptcy. Add central bank induced bailouts to keep them breathing, and voila!

For Italy, default from Euro, convert to Lira, devalue, uncomfort, then you can design and build and export again - for Italy has a long tradition of awesome engineering.

But I digress.

[Franco Cozzo]

South-east Queensland and NSW residents are being urged to minimise their electricity use as power outages are expected on Monday night and Tuesday.

The Australian Energy Market Operator (AEMO) confirmed both Queensland and NSW could be impacted by power outages during peak periods.
Several south-east Queensland communities could lose power between 5pm and 8.30pm on Monday and about 8am on Tuesday morning due to the lack of energy reserves.

https://www.9news.com.au/national/po...8-9a38c7c5568b

Must be a perfect storm of selling all our resources to the lowest bidder

[MrEL]

Originally Posted by Franco Cozzo

https://www.9news.com.au/national/po...8-9a38c7c5568b

Must be a perfect storm of selling all our resources to the lowest bidder

One step closer to being a 3rd world country.........

[Adamz Ghia]

And we laugh at North Korea for losing power all the time…

[jpd80]

Any bets on 91 to be $2.50/litre by August?

[Franco Cozzo]

Originally Posted by jpd80

Any bets on 91 to be $2.50/litre by August?

Agree, I reckon 98 going to be $3/L by end of 2022.

[fiestaz]

Fuel jumping across sydney again. 91 at $2.25 for the most part.
Can easily still be had at mid $1.80s if one was to shop around.

[Yellow_Festiva]

Currently in Singapore.

Premium is around $4, unleaded around $3.5 and diesel around $3.15 at the local Shell..

And that's Singapore dollars.

Add about 5% more for AUD.

Will take a picture tomorrow for future reference.

Sent from my SM-G973F using Tapatalk

[Franco Cozzo]

Originally Posted by Yellow_Festiva

Currently in Singapore.

Premium is around $4, unleaded around $3.5 and diesel around $3.15 at the local Shell..

And that's Singapore dollars.

Add about 5% more for AUD.

Will take a picture tomorrow for future reference.

Sent from my SM-G973F using Tapatalk

That will probably effect us too because thats where everyones warehouses are

Here's why the east coast has no gas reservation policies:

‘More money than ever’: gas companies made almost $1m in donations to Labor and Liberals

Combined the total amount donated by eight oil and gas companies or their lobby groups amounted to $959,115.

Broken down between the parties, the lion’s share of this money went to the Liberal party, which received $506,810. Next was Labor, which received $392,354, and last was the Nationals, which received $59,991.

The Greens were not included as the party has a policy of refusing donations from fossil fuel companies and received none.

By far the biggest donor was Woodside Energy, which announced last year it was pushing ahead with its $16bn project to open up the Scarborough gas field, and gave $124,000 to the Coalition and $108,350 to Labor, making for a total of $232,250.

The next biggest donors were the Minerals Council of Australia, which gave $193,943 ($101,192 to the Liberals, $28,091 to the Nationals and $64,660 to Labor), and the trust for “coal baron” Trevor St Baker, which donated $165,202. Of this, $112,758 went to the Liberal party and $52,444 to Labor.

In many cases, the amounts donated skewed towards the Liberal party with groups like the Australian Petroleum Production and Exploration Association (Appea) giving the Liberal party $72,610 compared to $31,650 for Labor.

https://www.theguardian.com/australi...r-and-liberals

Imagine selling out the country for less than a million bucks combined, wouldn't even buy you a house in Granville/Guildford where all those shootings are happening in western Sydney, what a joke

New Government is off to a great start:

The Albanese government is facing renewed calls to introduce a windfall profits tax on the gas industry after a new report found companies exporting the commodity from Australia were 95 per cent foreign-owned.

The British government announced in May that it would use a windfall profits tax to fund payments to households to help with the rising cost of energy and other essential goods.

But Energy Minister Chris Bowen has so far ruled out introducing such a tax in Australia, and instead resorted to asking gas companies “to do the right thing by Australian domestic consumers”.

https://thenewdaily.com.au/finance/f...-gas-industry/

That's what $400,000 buys you, $100B+ yearly profits without tax. Interesting strategy 'asking to do the right thing', maybe Ukraine should ask Russia 'to do the right thing' and their war will be over tomorrow

[jpd80]

Why am I not surprised.
Asking corporates to do the right thing is the easiest /lazy option of the government as
they don’t have to do or spend anything. It beggars belief that a low cost domestic supply
of whatever petajoules required wasn’t hammered out as part of the original approvals for
coal seam gas and off shore gas projects. I could only imagine that would have done wonders
for transformation of the power industry away from coal and into gas and renewables….
and widespread use of CNG over petrol.

Sorry, I know I’m captain hindsight but surely the oxygen theifs could have done more when
negotiating away our resources…

[Franco Cozzo]

Originally Posted by jpd80

Why am I not surprised.
Asking corporates to do the right thing is the easiest /lazy option of the government as they don’t have to do or spend anything. It beggars belief that a low cost domestic supply of whatever petajoules required wasn’t hammered out as part of the original approvals for coal seal gas and off shore gas projects. I could only imagine that would have don e wonders for transformation of the power industry away from coal and into gas and renewables….and widespread use of CNG over petrol.

Sorry, I know I’m captain hindsight but surely the oxygen theifs could have done more when negotiating away our resources…

Self interest and rock bottom buy prices for corruption, we're the lucky country, chock full of retards.

It's so blatant and there's no mechanism to prevent it, so it'll keep happening. Especially as people keep voting for the two majors, the only difference is the colour tie they wear, both on the take - they don't even do corruption properly that's how lame our political class are.

In 2032, let's see where Chris Bowen is working.

[Citroënbender]

Agreed, the kickbacks are a joke even compared to what Sydney councillors take for favouring development applications. (Which is so entrenched I think there’s a table for calculating it in Rawlinson’s Guide…)

[jpd80]

Rather than outright corruption, I think it’s simply utter stupidity and lack of foresight when negotiating deals,
They’re afraid of asking for things not in the investment contract for fear that the deal will be killed off…it’s madness

[roKWiz]

Originally Posted by jpd80

Rather than outright corruption, I think it’s simply utter stupidity and lack of foresight when negotiating deals,
They’re afraid of asking for things not in the investment contract for fear that the deal will be killed off…it’s madness

I agree with Franco and CB, total corruption lining their own pockets and are well aware of what they are doing. Just have to see the plum jobs (usually consulting jobs) they score after politics. Funny that.

[Dr Smith]

Originally Posted by jpd80

Rather than outright corruption, I think it’s simply utter stupidity and lack of foresight when negotiating deals,
They’re afraid of asking for things not in the investment contract for fear that the deal will be killed off…it’s madness

Agree..the fear of having a deal fall over seems to always create these problems later when it's realized big business has everything in their favour...when will the pollies realise that if one big company says no to a deal which might actually protect Australians that there are another 3 or 4 big companies happy to come in or maybe just for once call the bluff of the international energy companies.

I cannot believe a power generator in this country can deliberately cut generation so that the regulator jumps in and demands the output is increased and then pay a massive penalty to that generator when it was their action which caused the shortfall to exist in the first place. The contract should read, produce as much as is needed, if you cannot meet demand then you pay a penalty for the shortfall...it's not that hard ffs.

[jpd80]

All of the power issue began exactly when the price cap was imposed last week, a whole bunch of unforeseen (by inept negotiators) consequences in the supply contract. Again, this has to be down to stupid people negotiating contract conditions thinking that they are so smart getting discounts and controlling prices when they actually don’t.

[simon varley]

Originally Posted by jpd80

Why am I not surprised.
Asking corporates to do the right thing

thing is though, that they aren't even our corporates. most are foreign majority owned

https://australiainstitute.org.au/re...-in-australia/

[Franco Cozzo]

Originally Posted by simon varley

thing is though, that they aren't even our corporates. most are foreign majority owned

https://australiainstitute.org.au/re...-in-australia/

[Franco Cozzo]

Originally Posted by roKWiz

I agree with Franco and CB, total corruption lining their own pockets and are well aware of what they are doing. Just have to see the plum jobs (usually consulting jobs) they score after politics. Funny that.

Yep, when you have politicians responsible for the countries resources, who make questionable moves, then once they leave politics (see voted out) suddenly end up working in alphabet positions with the companies they were supposedly regulating - there's no other word for it.

Because there is no accountability framework nor independent anti corruption function (independent as in funding and staff are controlled outside of parliament house) for our politicians, this keeps happening.

There's no disincentive for our politicians to not sell us all down the river, that's why you end up with all these groups hedging their bets by donating to the major political parties, and former MPs ending up as CEOs or 'consultants', usually in the areas they had portfolios.

Seems VERY suspicious, they know what they're doing when they make terrible decisions and its networking/relationship building for life post politics.

If you don't have to answer to anyone, nor are there any repercussions, why wouldn't you be making these deals?

This all started with the privatisation of government infrastructure - why would you privatise essential services like energy and water?

Because of the high resources prices at the moment, the generators are withdrawing their services, creating energy shortages because they're losing money.

Its a business, the more they return to their shareholders the better the CEO's pay packet is going to be, an essential service has been corporatised for very short term gain. They can withdraw supply of energy to artificially drive up prices - and its completely legal.

Regardless of which colour tie you wear, its been a failure on behalf of both major parties and not a small failure either, they've all had decades to intervene federally, and even the states (see WA and its gas legislation) have the ability to intervene as well but they haven't.

I think it will do some good for everyone to go without power for a couple of days in winter so they can reflect on how we got here.

This is a great test for all the current state governments and especially for the brand new federal government, they can intervene and stop it, watch their moves, and then in 10 years time see where the people with the key portfolios are working.

[jpd80]

Originally Posted by simon varley

thing is though, that they aren't even our corporates. most are foreign majority owned

https://australiainstitute.org.au/re...-in-australia/

My point was that the laziest thing for the federal government to do is ask corporates to do
something for them, it costs no money and no legislative effort to ask and beyond that,
there’s no guarantee that our federal government will act if those corporations decline.

[Dr Smith]

Plus the Green movement in Europe considers natural gas OK vs coal, Biomass burning waste to generate electricity also OK, Nuclear OK....why do we have greens here with a different view on these fuel energy sources?