Business
There are aspects of Australian life that seem completely dire: housing affordability and escalating rents, energy costs, labour shortages, impacts from the war in Ukraine, rising interest rates and an inflation rate that many people haven’t seen before.
Business
Higher interest rates were not the only bill shock Australian were facing with petrol prices heading back towards $2 a litre.
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Russia warns that oil prices could surge to $US300 a barrel and it might close the main gas pipeline to Germany if the West halts oil imports over the invasion of Ukraine as peace talks make little progress.
The surge in renewable energy generation in Queensland is offsetting China’s ban on Australian coal and has given a boost to the LNG industries where east coast production hit a record in December, according to analyst EnergyQuest.
Origin Energy has announced writedowns of up to $1.2 billion including a cost to its APLNG project in Queensland of between $720 million and $770 million.
Their superannuation may be taking a pummelling, but the collapse in the global oil market is good news for motorists.
