Andrew Bolt: Albanese government’s thinking on gas doesn’t add up

You would think we’d have learnt that cutting gas supplies causes high prices but the politicians set to worsen our energy crisis don’t have a business brain.

Daniel Andrews ccomplains about gas companies, but won’t allow fracking and coal seam. Picture: Luis Ascui

Let me explain this simply to the politicians about to make our energy crisis even worse. To people without a business brain between them.

Even the coconut seller in some Third World market knows this: The less there is of something people want, the higher the price. A thousand coconuts for 100 buyers – prices low. A hundred coconuts for 1000 buyers – prices high.

And claiming there’s some climate god who hates coconuts won’t change the fundamental capitalist equation that seems totally lost to the geniuses in the Albanese government.

Take Industry Minister Ed Husic (former union official, no business background). Last week, talking about soaring gas prices, tipped to rise another 40 per cent next year, Husic claimed suppliers were to blame: “This is not a shortage of supply problem, this is a glut of greed problem”.

Or Environment Minister Tanya Plibersek (former public servant and Labor adviser, no business background). Her department last week said 18 gas and coal projects awaiting approval would now be checked for their effects on global warming.

(That effect is actually about zero on a warming that on the whole seems good for us anyhow, but this will help activist judges stop the projects and deter investors from financing them.)

Industry Minister Ed Husic last week claimed gas suppliers were to blame for rising prices. Picture: Getty Images

You’d think we’d have learnt that cutting supplies causes high prices. After all, we wiped out a third of coal-fired power plants in a decade. We slowed or halted new coal mines. Victoria banned new gas developments for years, and still bans fracking and coal seam gas technologies. NSW still won’t approve the new gas field at Narrabri that would supply all its gas to Australians.

We did all this to restrict coal and gas and – duh! – prices rose. The coconut seller on Tuvalu wouldn’t be surprised, but Albanese’s ministers sure are.

Not just them. NSW Treasurer Matt Kean (former Liberal staffer, only business experience a short stint as an accountant) is demanding action against gas and coal companies, but isn’t pushing to get Narrabri’s gas on line.

Victorian Premier Daniel Andrews (former Labor staffer, no business experience) complains about gas companies, but won’t allow fracking and coal seam.

Thankfully, one Albanese minister has at least exposed this con of blaming greed, not lack of supply, for our energy crisis.

Resources Minister Madeleine King (former lawyer, no business experience) said southern states “should seek to free up some of their gas reserves”, because more gas means lower prices.

Every coconut seller would know this. Why don’t Albanese government ministers?