I've heard talk that the price of oil mite keep rising a lot more yet, we might see US $200 barrel, or over $3 a litre for fuel yet.

Not sure this is right video,
But it's interesting to hear what he has to say about things going forward.

Runaway Inflation Is About To Collapse The US Economy w/ Peter Schiff
http://youtu.be/b_pSCwWpSQI

Thanks Armchair Critic. Kudos.

We are now learning that in states where power generation is state owned and operated such as WA there is little problem with supply. In other states where generation has been "privatised", the private owners are holding the populace to ransom over supply based on price. As the federal government through the AER battles to set a fair consumer price for electricity, greedy private producers are withholding supply in an attempt at price gauging.

There are other problems as well, in states that over rely on coal fired power generation, the infer-structure is old and has lacked investment, resulting in unplanned outages. For almost 10 years the federal Coalition government had no viable energy policy, this created lack of certainty and a failure to invest in cheaper renewables.

Pauliar,

Once again you post complete bollocks. Power has almost always been cheaper and more reliable when the generators have been privately owned. Victoria is a prime example, though Andrews is doing his best to stuff it up.

If the grid is owned by the government and it allows open access to power generators then it should create a low price environment. It's seems to be sloppy thinking to just blame the energy companies- without understanding the essence of the issue. Both sides- Labor and Liberal parties- have sold off what are considered as utilities. But there are other strategic reasons for decisions and transparency isn't always beneficial to a nation.

shonky,

What we do know is private operators have been withholding electricity supply in an attempt at price gauging within the market.

The Australian Energy Market Operator late on Tuesday warned of a gap in available resources from Wednesday night and beyond as many energy producers are choosing to withdraw electricity supply from the east coast market. We are now paying the price for Coalition incompetence with energy policy, and their unscrupulous selling off of power generation and delivery assets to their low life mates in business, all done at fire sale prices. Its time to return a vital commodity into public hands, and stop the rip offs and wroughting of private operators.