11/09/2008. Crude oil has come down to less than $100 per barrel. Last time it was this low was on the 5th of March. The average ULP petrol price was $1.34. Today that price is $1.58 -- 24 cents higher.
The fall in the Australian dollar accounts for about 10c per litre. So who gets the rest?
The Australian Government did not do too badly; the GST has increased more than 2 cents per litre, making the total of excise and GST now 52.5 cents per litre.

BP profits jump thanks to oil prices

30/07/2008. BP, the world's third biggest energy group, behind Exxon Mobil and Royal Dutch Shell, says its net profit rallied by 28 per cent to $US9.47 billion ($A9.9 billion) in the second quarter as oil prices surged to record highs.
Although production was flat at 3.83 million barrels of oil equivalent per day, BP's revenue soared by 49 per cent to $US111 billion ($A116 billion) in the three months to June 30 compared to a year earlier.
A year ago (29/7/07) petrol was $1.199
The Australian Government did not do badly either: The GST on a litre of petrol rose from 10.9 cents/L to 13.5 c/L an increase of 23.8%.

Ambulance strike with a difference

27/07/2008. Ambulance officers are on strike, not for more money, but for a commitment of an increase of 300 additional staff to cope with the demands of the system – they also wanted their CEO Greg Rochford sacked.
This means free rides for patients, costing the government over a million dollars a week.
Between May 2002 and May 2008, the number of patients taken to Gosford and Wyong hospitals by ambulance has more than doubled. However there is one less ambulance crew on duty today than there was in 2000. Central Coast Express Advocate

PM Rudd: G8 made progress on climate talks

09/07/2008. PM Rudd used his allotted six minutes to tell the gathering of first and third world giants that the buck stopped with them all on finding a solution to global warming.
"The buck stops with us. It doesn't stop with anyone else. It stops at this table."
Participants in the meeting at a luxury hotel, have agreed to hold a similar expanded meeting after next year's G8 meeting and before the crucial Copenhagen climate change meeting in late 2009.

G-8 endorses halving global emissions by 2050

08/07/2008. Yesterday the Group of Eight leading industrial nations — The United States, Japan, Russia, Germany, France, Britain, Canada and Italy endorsed halving world emissions of greenhouse gases by 2050.
The White House said it was "a validation of Bush's global warming policy".
But: No short or medium term targets.
No base year from which emissions would be cut.
No binding targets.
A top European Union official called it a "new, shared vision" by wealthy nations on climate.
PM Rudd should arrive at the meeting tomorrow.

Plan to drill for oil off NSW coast

03/06/2008. An Australian joint venture is planning to drill 22 km off the NSW coast between the Central Coast and Newcastle in search of oil and gas.
The Greens are against it.
NSW Opposition Leader Barry O'Farrell said the public will benefit from a drop in petrol prices if the venture is successful.
The opposition leader seems to be totally unaware that oil is a globally traded commodity and that locally produced oil will therefore have no impact on local petrol prices.

Petrol likely to go to $1.65

14/05/2008. Petrol prices could hit $1.65 as international demand for crude oil remains strong. CommSec equities economist Savanth Sebastian warned: "The national average price (currently $1.462) is on track to hit $1.50 a litre, with prices likely to lift as high as $1.65 a litre in the next fortnight."

Senate approves therapeutic cloning

Hospital musical beds

Fuel cost soars for weekend.

Fuel prices differ from wholesale prices.

No end to diesel price pain.

Watchdog claims proof of petrol rip-off

LPG not the answer, says Joyce

Venezuela's petrol is now the world's cheapest at 3.2 US cents per liter

Someone famous once said:

We're as mad as hell and we're not going to take it any more!
Do something about the skyrocketing price of petrol. Join our party so we can get elected to Parliament to fight for:

Cheaper Petrol

Do something about global warming?

Without it affecting your pocket or your lifestyle?

Big Parties Big Losers this weekend.

08/09/2008. Mayo:
Liberal candidate Jamie Briggs has claimed victory in the by-election for Mayo, Alexander Downer’s old seat, but the Greens' Lynton Vonow is refusing to concede. Labor chose not to contest the seat.
Lyne:
Nationals lost the seat of Lyne (Mark Vaile held the seat as deputy prime minister) to independent Rob Oakeshott. Labor chose not to contest the seat.
WA.
Labor lost, but the Liberals did not win, however either party may form government with the support of the Nationals.

Prof Garnaut calls for urgent climate action

04/07/2008. Prof Garnaut warned the biggest losers under emissions trading would be the poor and recommended compensation. He wants petrol included - with no compensatory cut to fuel excise. Agriculture should be left out of emissions trading for now. He rejected the coalition policy to cut petrol excise to compensate for higher prices under emissions trading and dismissed their calls to consider delaying emissions trading beyond 2010.
Garnaut Review
The Final Report is expected at the end of September 2008.

Become a Foundation Member of the Cheaper Petrol Party today
(It's free for the first 2000 applicants!)

Budget 2008: “It’s about my house stupid!”

14/05/2008. Last night’s budget has been praised by the commentators, as a fiscal responsible conservative budget.
But Despite the rhetoric, this budget paid mere lip service to “Struggling Hard-Working Families”
Families earning up to $60,000 (no children) will only receive up to $17.31 per week.
No relief at the pump. No relief at the Super Market. No relief on rent or mortgages.
Fiscally responsible is of little use if you have to feed the family now.

LPG - Cheaper, better for environment BUT conversion subsidy likely to be dumped.

04/04/2008. The LPG Vehicle Scheme grants are likely to be scraped, in order to pay for the promised tax cuts.
As of 23 of March 2008 113,493 $2000 grants were paid for conversions and 907 $1000 for new vehicles with LPG units. Apart from the fact that it is cheaper for struggling families, LPG is better for the environment and it reduces our dependence on foreign oil.
LPG vehicles produce 15% less greenhouse gas, up to 50% less particulate matter, up to 60% less carbon monoxide, up to 33% less oxides of nitrogen, virtually zero evaporative emissions of hydrocarbons and up to 80% less air toxics like benzene and 1,3 butadiene.
But axing the subsidy could potentially save 400 million (66 million per year).

The promised tax cuts will be about 32 Billion.

Oil $100 per barrel first time ever.

03/01/2008. Crude oil rose to $100 a barrel for the first time in New York as record global fuel consumption threatens to outpace production. China has more than doubled oil use since 2001. That soaked up most of the world's spare production capacity amid supply cuts in Nigeria, Iraq and Venezuela. The last time the world found more oil than it consumed was in the mid 1980's. Add to this the increased cost of recovery and the capacity restrain of refineries and it is clear that crude oil prices can only go up.

ACCC Report on Petrol Price

19/12/2007. After a 6 months inquiry the ACCC has concluded (in line with the previous 41 investigations over the last 30 years) that there is no evidence of price fixing.

The commission has produced a report of over 300 pages, so it will take us a while to digest it. However for those who suffer chronic insomnia, here is the link to the report: http://www.accc.gov.au/content/index.phtml/itemId/806216

The ACCC concluded that because there were only a small number of players in the refining market (BP, Caltex, Mobil and Shell - which control 96 per cent of the petrol market) there might be "a series of arrangements between them" amounting to what Mr Samuel carefully described as a "comfortable oligopoly", but this, it seems, does not amount to cartel-like behaviour (because that would be illegal).

The ACCC will be given new powers by the new Labor government to monitor fuel prices. This may eventually lead to a reduction of “a few cents per litre”.

This at same time that Labor is saying energy prices will have to go up to deal with greenhouse gas emissions.

The best advice (after 6 months)? Buy when its cheap.
We can't wait for the inquiry into grocery prices!

ACCC Petrol Price Inquiry Extension

21/09/2007. From The Treasurer: "I have today agreed to a request from the Chairman of the Australian Competition and Consumer Commission (ACCC) for an extension of the reporting date of the ACCC’s inquiry into petrol pricing across Australia. The inquiry is to be completed and a report submitted no later than 15 December 2007." (Well and truly after the election.)

Another Petrol Price Inquiry

15/06/2007. Federal Treasurer Peter Costello has announced yet another inquiry into petrol prices. This will be the 42nd investigation at a federal level in addition to the 14 by State courts over the last 30 years. The last time the ACCC warned about a public shaming in January 2007 prices came down by about 15 cents per liter. Prices went up again, by the same margin, a couple of weeks later when the ACCC withdrew its threat. To us this seems to be a colossal waste of time and money. As far as we can find, no case of price fixing arrangements in relation to petrol prices in Australia has ever been proven. Cynics might suggest that the inquiry is held because of the pending federal election. The ACCC will hand down its report to the Treasurer no later than October 15.

Today:
Average Unleaded Petrol = $1.498
Crude Oil: (Brent Spot) US $76.24 per barrel
That's 75 AU cents per litre.
So who gets the rest?

High and Low for today (New Window)

Changes to NSW Road Rules

26/06/2008. New road rules come into effect on the 1st of July 2008.
Main Changes
Full List of Changes (pdf)

Jane McGrath died at the age of 42

23/06/2008. We acknowledge her courage and bravery for going public with her fight to raise our level of awareness. Our sympathy is extended to Glenn and the children, and to all of those who have lost the fight against this viscous killer.
We would like to repeat her message:
Do regular checking.
Regardless of how old you are, get it checked.
The sooner you find a change and go to see your GP, the better.
Do it for yourself and for your family.

Labor's $70 million hybrid gift to Toyota

11/06/2008. PM Kevin Rudd yesterday pledged $35 million to Toyota from Labor's new Green Car Innovation Fund as an incentive to assemble the Hybrid Camry at the Altona facility in Victoria.
Victoria matched the $35 million.
To us this sounds like policy on the run. No inquiry and no HCC (Hybrid Car Commissioner). Also, according to last month's budget, the Green Car Innovation Fund (for which guidelines have not yet been developed) does not start operating until 2011.
Toyota announced it would have build the cars here "with or without assistance".

Rates blamed for house price dive

07/06/2008. A SUCCESSION of interest rate rises is blamed for the greatest single drop in Australian house prices on record.
The national median house price lost nearly $13,000 in the first quarter of this year.
Home prices may slide further this year after housing affordability deteriorated in the first quarter to the worst on record, according to a separate report by the real estate institute published May 28.

Member calls for investigation into benefits and risks associated with genetically modified orgasms.

03/06/2008. We're not touching this one.

Wages, House Prices and Petrol

16/05/2008. Data from the Australian Bureau of Statistics show that Adult average wage has increased by 4.8 % over the 12 months to Feb 2008.
The Capital Cities House price Index rose 13.8% over 12 months to Mar 2008.
In the 12 months to Feb 2008 petrol has increased from $1.06 to $1.46.
An increase of 40 cents or 37.7 %.

BUDGET SPEECH 2008‑09

13/05/2008. Read the full text of the Budget Speech delivered on the 13th May 2008.

Another rate rise - to cut inflation??

05/02/2008. The RBA increased rates by yet another .25%. This marks the bank's 11th increase since May 2002, which has lifted the rate from 4.25 percent to now 7.0%. But isn't the increase in interest rates contributing to inflation? Lifting rates did not work the last 10 times, why would it work now? Can we look forward to another rate rise in March?

Kevin Rudd sworn in as Australia's 26th Prime Minister

03/12/2007. Kevin Rudd has been officially sworn in as Australia's 26th Prime Minister in a ceremony at Government House this morning.
The new Prime Minister wants to get preparation under way in the key areas of industrial relations and education before Christmas.
Interim legislation on industrial relations will be introduced as soon as the new Parliament commences in early February.