Malcolm Turnbull defends energy market intervention, says electricity prices will halve - ABC News (Australian Broadcasting Corporation)

You have got to solute, using the word in context, this as a win, gas prices will become fair in a market with more gas than it knows what to do with and multinational exploiters will be made to do the right thing, a somewhat rare occurrence.

More to the point this demonstrates what can be done in a parliamentary democracy where leadership can implement what it sets out to, When you have the numbers and the right cause you can do what is necessary, even if you opposition is blowing about a bit, as usual, Mr Shorten being short on support, as is usual, when he didn't think of it

Certainly sounds good on paper Clete, and no doubt many pats on the back going around, but the devil is in how exporters make up that revenue they lose from less exports. Don't expect instant cost savings for consumers in Australia, current contracts are still in force, and many things can affect future contracts, and while this intervention has INTENTIONS to increase domestic supplies, lower prices remain to be seen.

Even your own lawmakers recognize they have to have MORE supply to make this happen eventually. No telling what the Aussie version of "drill, baby, drill" will take, or in this case "frack, baby frack!"

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Originally Posted by talaniman

Certainly sounds good on paper Clete, and no doubt many pats on the back going around, but the devil is in how exporters make up that revenue they lose from less exports. Don't expect instant cost savings for consumers in Australia, current contracts are still in force, and many things can affect future contracts, and while this intervention has INTENTIONS to increase domestic supplies, lower prices remain to be seen.

Even your own lawmakers recognize they have to have MORE supply to make this happen eventually.

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You see here, Tal, Government supercedes contracts, someone may spend time in the courts but eminent domain extends to minerals, only the government owns the minerals so you either agree or get hit with royalties that will put you out of business. What is happening now is what should have happened when the projects were approved, but back then the problems of gas extraction hadn't been exposed which meant subsequent projects which were to supply local demand got put on hold, also the difficulties of the chinese market or post tsunami japanese demand weren't obvious. I now pay more for gas than they sell Australian gas in Japan for which is ridiculous, you can't tell me the market is working

along with this declaration is a declaration that states are to get real and stop standing in the way of exploration and extraction, so federal trumps states

Well lets just hope the moms and pops can meet your domestic demands when you force multinational exporters to rewrite their foreign contracts. You're still talking NEW investments here, which translate to TIME and MONEY. Be interesting to see the actual legislation.

Until then its just an IDEA that sounds good. The devil is in the details, court rulings in the future notwithstanding.

doesn't he know by now that the only thing the government can do with tinkering with the market is to screw it up .

That maybe but screwing up multinational exporters and exploiters isn't bad. Turncoat is a former investment banker, he has a better idea of what can be done than most of us, and he won't be acting without the backing of his party and the electorate, we are sick of being screwed by energy companies. Your President can send a message to NK, my Prime Minister can send a message to gas exporters and it is simple you can't take out of the market more than you put in and 50% of the gas supply is retained for domestic sale

You may put america first but here we have come to the opinion Australia first and screw american multinationals

Even Australia needs actual legislation to be passed and signed so let me know when you have done the deed. Till then its just yakkity yak by your politicians.

Ah regulation is a wonderful thing