1. Australian politics becomes completely ridiculous
Laura Tingle called it a week of low, low farce.
Must share this David Rowe cartoon:
For a billing service that needs to invest no more than renting an office, hiring some staff and buying office furniture and computers, rewards for an electricity retailer are rich indeed. In this post I publish some comments I sent to our local ABC Mornings presenter, Steve Austin, who has taken up the cudgels on behalf of consumers who are hurting from electricity price rises. Austin is fighting the good fight but unfortunately regularly misfiring. Then, while I was writing those comments, information came through of another Victorian investigation, which is a bit of a bombshell.
Sophie Vorrath at RenewEconomy has a post Failed experiment: Now it’s retail arms gaming energy consumers with the grisly details. Continue reading Electricity retailers reap rich rewards
When Prof Jason Sharman told Phillip Adams that half a million dollars was stuffed into the new intelligent deposit machines installed in the Commonwealth Bank from 2012, and then did the same for the next three years, it sounded incredible, and if true, could only happen with complicit corruption. Seems it didn’t happen quite like that, but what authorities say did happen is staggering and quite bizarre. Continue reading Drug syndicates turned CBA into a money pump, but the whole financial system is at risk
The Liberal Party Has Overwhelmingly Decided To Keep Its Plebiscite Policy, so because the Senate again failed to pass the necessary legislation, we are off to a $122 million postal vote, which is really a voluntary survey to be conducted by the ABS, if the High Court lets them.
Except, we already know what the people think, because they’ve already been surveyed, and people who know about these things say that the proposed survey is incompetent as a survey, lacking proper sampling. Of course, the opponents of same sex-marriage see this as their best chance of getting a “no” vote and kicking the can down the road.
For now same sex marriage takes centre stage, but journalists and pollies have taken time out to unload on the Commonwealth Bank, forgetting that their own esteem in public eyes hovers around that of used-car salespersons. Also most have never organised anything bigger than a booze-up in a brewery, so the chances of them understanding how large businesses work is close to zero.
We’ll have to wait for the court case to find out what really happened, but there have been a couple of articles in the AFR, and an ABC TV interview with the chair of the board, Catherine Livingstone, so here is my best estimate as to what happened. Continue reading Which bank under heavy fire
That is as reported by Simon Benson in The Australian:
The Australian has learned that Malcolm Turnbull and Energy Minister Josh Frydenberg are working on a compromise deal on coal that would allow them to quell internal resistance to a CET.
Would that they were.
Paul Budde has urged the government to press the reset button on the NBN, as short-term and longer-term faults and complaints affect up to a third of connected customers and large numbers of premises are being put in the too hard basket for connection.
One man was without a phone or internet for four months, and only got relief after media involvement. Then he got relief by being reconnected to the legacy service he had left, which is against the rules. Continue reading Pressing the reset button on the NBN
It’s the kind of article we expect in RenewEconomy, but this one by Angela Macdonald Smith is in the Australian Financial Review – Future for gas to be cut short by batteries and renewables:
Now it’s a discussion of how much an opportunity gas has before it gets squeezed out of the mainstream generation market by solar/wind and storage – not on carbon emissions grounds, but on costs.
Quiggin says, yes we can.
I can’t comment on his blog, because the Askimet software has got me marked as a pest, and my comments go straight to spam. There is no facility for telling Askimet I’m OK, so there it is, I’m as good as banned. So I’ll make my comments here, which are in any case longer than is form for comments there.