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 Ok ScoMo, good idea, now let’s see it in action!

13.10.19. It really is quite laughable that anybody, let alone the Prime Minister of Australia, would be crazy enough to take economic advice from the old Labor hack Wayne Swan, the one time “World’s Best Treasurer”, according to some ‘non event’ magazine, who successfully sent the country broke.
Obviously addicted to political pain, like Shorten, for example, the corps of poor old Swanny was never interred but embalmed into the sarcophagus of ALP president. Visitors to the ALP’s dank catacombs can see Swanny propped up next to the row of many other past clowns.
Scott Morrison has stared down growing calls to expand his proposed “big stick” energy powers to other sectors, after former Labor treasurer Wayne Swan suggested they be applied to the banking “cartel”. Declaring he was not in the habit of taking economic advice from Mr Swan, now the ALP president, the Prime Minister said the laws to break up energy companies were what the government believed was necessary to restore some balance in the energy market.Source: Rosie Lewis, News Corp

PM stares down calls to expand ‘big stick’ powers

“I apply the ‘George Costanza principle’ to the economic advice of Wayne Swan. If Wayne Swan’s saying you should do it, there’s a pretty good argument you should do the opposite,” Mr Morrison said.
“You only have to look at the budgets when he was running them and compare them to our budgets today and it’s taken us six years to get the budget back into surplus.
“As I’m sure Wayne’s advice is well-intentioned, I’m not inclined to follow his economic advice.”
The George Costanza principle is a reference to the Seinfeld character by the same name, who in one episode goes against his instincts and does the opposite to great effect.
The big stick legislation gives the Treasurer powers to break up energy companies as a last resort following a recommendation by the competition watchdog, in a bid to drive down energy costs.
Labor is still considering the updated bill, after the legislation failed to pass the previous parliament, while key Senate crossbench party Centre Alliance wants the divestiture powers to be non-discriminatory and apply to other sectors like the supermarkets and banks.
Centre Alliance senator Rex Patrick, who with colleague Stirling Griff holds two Senate votes, will circulate an amendment to the bill early next week.
“Unlike the government’s proposition, it would be non-discriminatory as to sectors. It would be a residual power available for use against any large entity that abuses market power or engages in egregious conduct,” Senator Patrick told The Australian.
If Labor does not support the legislation, the Morrison government will have to win over at least one more Senate crossbencher to pass the bill assuming Cory Bernardi sides with the Coalition and One Nation to back in the laws.
A Senate committee is inquiring into the bill and is expected to hand down its report by November 7.
“It’s only after the Senate committee report that we’ll understand: A, any unintended consequences and B, what Labor’s position is,” Senator Patrick said.
“They will spell it out by way of simply agreeing with the report, having additional comments or having a dissenting report. That’s the point I expect to negotiate with the government, if they don’t have the numbers.”

{ 14 comments… add one }
  • Pensioner Pete 13/10/2019, 6:53 am

    The government is making a dogs breakfast of an action which in reality, is very simple.

    Hand back the ownership of energy production and distribution to the people – State governments, then apply the necessary political and financial pressure to the States to get off their collective posteriors and build power stations, be they coal or nuclear fired, with an assurance the States are in competition with each other with the provision of affordable energy to foster industry, be it large or small in the States.

    Then and only then, will we see the cost of energy in this country drop to levels where the Australian economy has a powerful tool, to promote growth.

    • Penguinite 13/10/2019, 7:39 am

      Can’t depend on The States to manage our electricity supply without meddling in solar/wind for the subsidies and Green votes. The only way would be for Federal Government to own and operate a competitive supply like nuclear or hydro. Even in little Tasmania the government can’t help it’s self. It’s building huge wind farms in isolated places with wet “battery of the nation” dreams. Not only does the idea upset Brown’s Greens but the cost of reticulation, moving the generated power to existing sites where it can be used or transferred to Victoria, will be astronomical!

      • Austin Ayforti 13/10/2019, 8:56 am

        Agreed Pen, there isn’t a single state government that hasn’t proven it is more than willing and able to throw their state’s people under the bus to impress a vocal minority set against the peoples interests.
        Return power to public ownership and outlaw any future sale or lease by irrevocable law.

    • DT 13/10/2019, 8:45 am

      State governments built and owned the power station supplied electricity grid until they decided to sell them and/or replace them with so called renewable energy by approving development applications from the private sector.

      NSW had plans drawn up to increase generator capacity at several state owned power stations before they were sold, add HELE units, and build new power stations.

      But as with the Snowy Mountains Scheme model, the cooperation between federal and state often takes years to achieve as politicians play games. And the old left verses right wars continue. With globalism socialism added to the mix now.

    • Tony H 13/10/2019, 2:54 pm

      Will not happen as the pro renewables people occupy the seats of Government and also on the various power company boards! It is a monopoly. We are being conned that it is private enterprise when all these people sing from the same song sheet and go to the same clubs! They all benefit from the same investment portfolios. In business it is called insider trading, but in politics it us something different!

  • DT 13/10/2019, 8:40 am

    Last year the Jonova website reported that for the owners of Liddell Power Station, Hunter Valley, NSW: 4 x coal fired steam driven generators each of 500 MW capacity – was worth more to AGL Limited if shut down than it is operating and generating electricity.

    Because of the subsidies and accounting AGL could make more profit from so called renewable energy investments and with Liddell’s 2,000 MW no longer available to the electricity grid then the ridiculous auction system for supply would enable profiteering manipulators to push prices up. The highest bidder for supply during peak hours and other high demand periods effectively leads the price for all suppliers, they are all paid the highest price for that period.

    The fact is that with no subsidies, with no wind and solar intermittent bursts interrupting power station efficiency of operation and ever rising electricity pricing investment in wind and solar farms would not be so attractive.

    And regardless of what the unnatural climate change hoaxers say, High Energy Low Emissions coal fired power stations, gas fired or nuclear power, power stations are the proven best generators to secure low cost baseload electricity and to supply peak period demand.

    Power stations need no expensive feeder transmission lines to connect to the main grid, they are on the grid network. They do not need “firming”: back up generators and storage of energy systems. In other words they actually cost much less money to build and operate when used effectively without loss of efficiency from, by comparison, toy generators.

  • Lorraine 13/10/2019, 8:42 am

    You often wonder where did it go wrong, was it the carbon tax under Gillard, that surely with the Unions, finished the car industry. Or was it the RET that both sides seem to agree….Often wonder how were they so dumb. Privatisation was no answer , that’s for sure.

    • DT 13/10/2019, 8:52 am

      I believe that privatisation is not the problem as such, the problem is lack of control or regulation to guarantee reliable cost effective supply of electricity and the Renewable Energy Target subsidies and allowances made for wind and solar inefficiency that make the “farms” attractive investments and power stations not attractive investments.

      And few people seem to be aware of the Mansion and BHF imposition that Labor supported in Parliament, an environmental levy (legislation title I forget) on emissions so far targeting coal and gas burning but easily extended to, say, liquid fossil fuels if a government decided to force ICEV off the roads in favour of EV: Noting that Mansion also provided $300 million of incentive to fleet leasing firms, Macquarie Bank Leasing $100 million I understand, for them to encourage clients to use EV.

      Politicians care only about meeting emissions targets and being patted on their backs by their UN colleagues or associates. And crony capitalism, maates making money at our expense from RET, EV, etc.

    • Peter 14/10/2019, 8:55 am

      The power industry’s demise and costs spiral was when the greedy state governments seized the power distribution from local councils (county councils) incidentally employed and trained many apprentices. Then the cost skyrocketed with the privateisation the green, labor governments subsidation of solar wind ideology in their effort to appease the Greens / Labor inner city constitutes.
      Subsequently we the silent Australians pay through our teeth and the lower socioeconomic struggle to manage their power bills.
      Same with water management back in the days when Bob Carr was environmental minister he decreed no “dams” and look at the mess and lack of protection in especially this current drough. Another mess taken away from local decision makers such as county councils

  • DT 13/10/2019, 9:15 am

    Maybe people are not aware of the history of selling off electricity assets?

    In NSW it was a Labor plan, Premier Kenneally was the last on the list of sellers. The Electricity Commission was replaced by the LNP Greiner Government to stop union poor work practises and related inefficient delivery of electricity to consumers. The Greiner Government created government owned private businesses to take control of electricity assets and run them like a business model. When Carr Labor took office they replaced management executives with Labor maates.

    When the O’Farrell LNP Government took over the already underway sale of electricity assets they inherited sale amounting to $5.9 billion compared to industry estimates of $12-15 billion valuation. And when the hidden debt (watch for it in QLD) within the government owned businesses was retired, debt Labor used to extract extra “dividends” to improve state budget bottom lines amounted to $5.1 billion leaving return from sale $800 million.

    Sale included Bayswater Power Station, coal mine and dam and nearby Liddell Power Station was handed over free of charge.

    SA were first to exploit the RET and now VIC follows on.

  • DT 13/10/2019, 12:18 pm

    Hughenden irrigation project, first leg of the iconic Bradfield scheme to water inland Queensland OCT 7
    Posted by Editor, cairnsnews

    THREE levels of Government congregated at Riverside Station outside of Hughenden today to unveil the foundation stone representing the future site of the Hughenden Irrigation Scheme, a federally funded project which will irrigate over 10,000 hectares of farmland. KAP Leader and Federal Member for Kennedy Bob Katter was flanked by State counterpart Robbie Katter, Assistant Minister for Roads Scott Buchholz, as well as economic mastermind Sir Leo Hielscher as they spoke to media and project stakeholders beside 100 hectares of irrigated pasture, a visual demonstration of what’s possible with the Hughenden Irrigation Project Corporation (HIPCo) on a bigger scale.

    read more at cairnsnews

  • DT 14/10/2019, 9:01 am

    A new dam for New South Wales and a raised dam wall public works about to begin state and federal government representatives including the Premier and the Prime Minister advised on the television news last night (Sunday).

    And the PM said there is a lot of federal money on the table awaiting more state government dam projects to be approved by them, a number in Queensland already being discussed for some time, but others too.

  • Albert 14/10/2019, 9:37 am

    Same rubbish, different day.

    • Disgruntled 14/10/2019, 10:31 am

      Effing idiots, the lot of em. Just talk, talk and promise and promise. Albert your so right!!!.
      Only pollies even remotely able to be listened to with any respect at all are O.N. and Robbie Katters mob here in Qld.

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