Australia’s slow-motion energy train wreck

Debate over declining investment is obscuring the political decisions setting up the eastern seaboard for scathing gas shortages – unless urgent action is taken.

Australian energy groups are telling me that Australian industrial demand for electricity in major eastern state capital cities is falling because, outside mining, Australian companies have stopped investing.

The investment decline is being obscured by the current mining investment boom, but even in mining almost all projects that have not started, or are about to start, will now be mothballed .

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