There’s a great piece at Bloomberg today on how Japan is destroying Australia using our own gas against us: Every six hours, somewhere in the world, a shipment of liquefied natural gas controlled by a Japanese company leaves a port. The vessels — giant, floating thermoses that keep the fuel super-chilled — cross the globe,
The USD saw a surge overnight due to a better than expected initial jobless print but also a revision in US 2nd quarter GDP but it didn’t stick completely against all the majors as it faded towards the end of the session. This kept Wall Street on edge while European markets took benefit from the
The Australian Energy Market Operator has released new forecasts regarding electricity supply and demand over the next decade. AEMO says that a slower uptake of battery-electric vehicles is set to reduce pressure on the electricity grid. In December, AEMO forecast that seven million electric vehicles would be sold over the next ten years, but it
On 12 December 2023, Victorian Premier Jacinta Allan ignored expert advice and signed the first tunnelling contract to build the $200 billion, 90-kilometre Suburban Rail Loop (SRL) to nowhere. “We are full steam ahead with the Suburban Rail Loop – by 2026, tunnel boring machines will be in the ground and Victorians will be hard
Yarra Capital Management chief economist Tim Toohey warned that the $300 billion in extra savings accumulated during the pandemic may have run out, curtailing household spending. Toohey estimates that households probably spent the last of their pandemic-era buffers around March 2024, as younger consumers struggling with cost-of-living pressures pulled back on saving to pay for essentials.
Unbeknownst to all of Australia, the Australia Energy Market Operator (AEMO) has its finger on the answer to everything: Favorable weather conditions toward the end of winter and reduced gas generation demand have allowed Iona to start refilling its storage capacity. Iona inventory is currently sitting at 44% or 10,736 TJ, while Newcastle LNG is
A fairly mixed session for Asian share markets following the dip on Wall Street overnight as the post close NVIDIA earnings muddy the AI/tech waters with Chinese shares and their Australian satellites down. The USD is fighting back somewhat against most of the majors with Euro retracing below the 1.12 handle but the Australian dollar
Victoria is the capital of homelessness in Australia. Victoria has the lowest proportion of social housing in Australia, accounting for only 2.8% of total dwellings. This is much lower than the 4.1% national average, which is already low by worldwide standards. Last year, The Guardian reported that Victoria’s social housing stock expanded by only 74
Some have been determined to go down with the ship. With China’s economic momentum subdued since March amid the real estate downturn and a tight fiscal policy stance, the investment bank now expects gross domestic product to expand 4.6% in 2024, down from an earlier estimate of 4.9%. For next year, UBS sees growth at
Treasurer Jim “chicken” Chalmers, the wholesale wrecker of Australian living standards does not have a leg stand on when criticising others: Jim Chalmers has ruled out the Greens’ $514bn “Robin Hood tax” on big businesses, accusing them of “making up numbers”. …But the Treasurer dismissed their plan and argued the government’s “methodical approach” is better