This is a snippet from The Australian on the spiking East Coast...

This is a snippet from The Australian on the spiking East Coast gas price issue...

Treasure Jim Chalmers declines to speculate on a proposition to artificially intervene in the gas market and cap exports as prices soar in east coast markets, saying there is "no simple mechanism" to give immediate relief for consumers. He concedes the nation is facing a "perfect storm" of conditions in its energy market, with spiking gas, liquid fuels and electricity prices hitting businesses and households.

While in opposition, Anthony Albanese called for former prime minister Scott Morrison to pull the trigger on capping gas exports by invoking the Australian Domestic Gas Security Mechanism which limits producers from exporting when there is a shortfall in local supply." There is no simple mechanism that would immediately take this pressure off the gas price,” Dr Chalmers says. "This spike in the price has a number of causes and it does not have a single solution. If there was one, somebody would have reached for it."

I will discuss with the regulators and with Chris Bowen and Madeleine King in resources to make sure that we are managing this the best that we can and that we are monitoring developments."

Stating the obvious here re politicians but what they say while in oppositions is always far easier than what they will actually do when in power.

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