I doubt if anyone is expecting a quick fix. So much damage has been done that no thinking person would be expecting a quick fix, far from it. It may even get worse before it gets better, although from the actions taken already, I now doubt that.
However, the dirt is being uncovered. Today we read that the power companies have been hedging to insure themselves, just as airlines do with fuel etc. Qantas recently admitted that its fuel surcharge is really to cover its 'negative hedges' losses, i.e.. they got it wrong, but we pay.
Similarly, the power companies will lose millions if they unwind their now 'negative hedges', so that means that high prices are not going away with the abolition of the carbon tax. Julia really put a big poison pill in that one.
In effect it means that the government will not be getting any revenue from the carbon tax, but its bad effects will mostly remain. What a mess.
I can understand politicians pushing their own barrow, even if it is contrary to their electorate's wishes, but poison pills are beyond the pale. Its vindictive in the extreme and is usually the provence of bullies.
