Brace for the knock-on effects of the oil price slide

The low oil price, coupled with Australia's LNG gas disaster, will have wide-ranging repercussions and potentially see some companies go broke.

The full ramifications of the recent fall in the oil price will unfold in the next few months along with the new Greek-driven European crisis.

But let me give you a sneak preview of some of the events that could be ahead if oil stays at present levels or goes lower. Domestically we will look stupid because we are exporting our gas at a loss, but we will have to pay top price on the eastern coast for local gas. I will come back to that issue later.

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