In 2000 Zimbabwe was one of the economic stars in Africa, but when Mugabe looked likely to lose the elections he pandered to his supporters by unleashing bands of thugs to "confiscate" and steal the land of white farmers supposedly to give to the masses. While he kept power, the Zimbabwean economy collapsed, and the country went from a massive exporter of food to its citizens starving. The banks who'd loaned large amounts of money to the farmers became technically bankrupt and the value of the Zim$ fell through the floor.

In Aus, we have Labor and the greens who have spectacularly failed to reduce power prices effectively trying to confiscate gas at prices well below market values to pay for their failed promises. Electricity prices are still going to rise by about 35% and will continue to rise as renewables are subsidized by price increases. (In Germany, real average power prices have risen by almost 50 per cent across the past decade as renewables have risen from under 20 per cent to more than 40 per cent of total domestic power generation.)
The $10bn question is how much the taxpayer will have to subsidize this government largesse as companies can and will sue the government for compensation.

Hey shadowminister,
Both sides are guilty of holding a position that have increased power prices.
They did this when supporting the defense of Ukraine and by extension a continuation of the war and sanctions, which lead to reduced global supply, that in turn caused prices to rise.

If our leaders truly wanted to keep Australian energy prices low, and do what was in their citizens interests, they would've supported a negotiated settlement between the two parties, not a continuation of the war and backing of the sanctions.

Not only has the government "spectacularly failed to reduce power prices", it has increased them with its climate-bothering lunacy; and now, like all incompetent dropkicks, it thinks it can solve the problem it caused in the first place - using our money!

"Thousands of years of experience – from the ancient Babylonians and Roman Emperor Diocletian, through to modern times – have demonstrated how price controls prevent the allocation of scarce goods to their most valuable uses, lower short-term production, and cause investment to seize up". (economist, Alan Moran)

Price controls were abandoned in the 1980s by the Hawke-Keating government, which accepted the truth that prices regulated by supply and demand is the best way to run an economy.

Government intervention in the economy results in a worse outcome for everyone except the politically privileged. The less the government is involved in our lives, the better off we are.

Whenever the state has started to dictate social, economic, and commercial behaviour – serious problems have followed. These usually include loss of freedom, loss of living standards, higher costs, and dislocation of society.

The ALP government’s price capping escapade, along with subsidies to unreliable wind and solar (yes, started by John Howard), is setting Australia up for a Soviet style economy.

What a load of Liberal Party BOLLOCKS!

The action to limit prices as they apply to Australian owned and consumed gas and coal resources producing power, is an attempt by the Federal Labor Government, endorsed by two Liberal Premiers, Perrottet and Rockliff at National Cabinet, to benefit Australians, by limiting the cost impact of OUR resources on power bills, not multinationals like 'Shell' who seek to exploit OUR resources for their benefit, and the financial benefit of their mega rich, cash bloated, foreign shareholders. Dud Dutton and his motley crew of reprobates, might be winning great kudos in the boardrooms of the multinationals, as they try to boost their rip offs super profits, but their 'NO' vote wins them no endorsement from battling Australians. Another nail in the coffin of the useless political mob masquerading as the Federal opposition.

Economic vandalism, a bunch of numbskulls creating a trillion dollars of debt, lining the pockets of the super rich, with nothing to show for it, only to make Australia another one of the worlds Indebted nations. SM and ttbn how about you give three cheers for ScumO' and Friedbrain, who created an economic disaster for Australia!

Thank the GREENS for obtain a economic support package from Labor to help battling Australians.

We all know that energy is of national importance
and that a national policy, national rules, and
regulations are necessary. The states and the industry
are fully aware of this and they have done what they
could but without a national energy plan it was hard to
make national investments.

For about a decade the Coalition failed to develop a
national energy plan. As a result Australia was
ill-prepared when the current crisis hit.

We wouldn't have been able to avoid the crisis - but as
a country we'd have been better prepared and would not have
had to resort to the government intervention that we see
today.

If we would have had a national plan a decade ago we
would now be in a much better economic sense. The
new Labor Government together with the states have
agreed on a national plan within weeks after the
election. This is a clear indication that the states
were more than ready.

Now with a national plan in place, we shall see an
increase in smart energy development around the country.
Unfortunately the results will be some years away
while the crisis is now. The energy crisis will get
worse but importantly it will get better over time.

AC,

What bollocks, Aus had nothing to do with Putin's unprovoked and illegal attempt to temporarily enslave Ukraine that pushed up oil prices. Now that oil prices are below those shortly before the war, this is irrelevant to oil or coal prices. The gas shortage is mostly due to Russia trying to punish the EU for supporting Ukraine and Russia blowing up the pipelines. Victoria banning onshore exploration has as much to do with the shortage as Russia.

Russia is busy having the crap knocked out of it while the Ukrainians are now receiving even more aid to rebuild their energy sector and patriot missile systems to stop Russian war crimes against civilian infrastructure.

The oil price cap is now working well and greatly reduced the revenue Russia is receiving for its oil.