Sam Lester 🇦🇺

@AvidCommentator more fuel on the fire. well done jimmy

"The Albanese government has called for an above-inflation minimum wage increase for almost 3 million workers so they can cope with the surging price of fuel despite calls for restraint from employers." afr.com/work-and-caree…

@MickamiousG extremely concerning, even jeff schnider can see it. how can our government be so dumb?

Australia is so fvcked right now

@bowtiedstocks he's an absolute idiot. no vision what so ever.

Hope you got a good wheelbarrow™️

600 gas stations just ran dry, The Philippines declared a state of emergency Four weeks into the Hormuz blockage and here's where we are: → 600+ fuel stations across Australia have run out of at least one type of fuel → The Philippines declared a state of national energy emergency, the first country to do it → India is in full panic-buying mode despite government officials saying "nothing to worry about" → Egypt is forcing restaurants, shops, and malls to close by 9 PM starting Friday → South Korea is warning its airlines to prepare for refueling restrictions across Asia → Multiple countries are now hoarding jet fuel And it's spreading. Shell's CEO just warned that Europe will start experiencing the same disruptions Asia is dealing with right now. His exact message to European governments: start pulling levers on the demand side. Translation: Prepare for rationing. But here's the part nobody in the mainstream is getting right: This is not inflationary. Oil shocks never are. History is conclusive on this. The price spike gets paid for out of employment. Businesses already on the edge start cutting workers. Consumers pay more at the pump and slash spending everywhere else. Output drops. Activity collapses. It's already showing up in the data. Yesterday's US PMI from S&P Global showed the first fall in employment in over a year. Demand for services is weakening. Business confidence is dropping. And this is hitting an economy that was ALREADY reeling, flat beverage conditions, a private credit bust that's accelerating, and now a legitimate energy shock on top of all of it. Race against time doesn't begin to describe it. TOMORROW,Thursday, March 26 at 6 PM Eastern, we're laying out the full picture: → Private credit bust, the latest from Moody's and what stage we're entering → Dollar squeeze, euro dollar tightening that's compounding everything → What comes next, and how fast it gets there This situation is deteriorating by the day. Not by the month. By the day. you can sign up here eurodollar-university.com/home-page-web

@JEChalmers Fight inflation by putting petrol on the fire lol.

BREAKING: Labor is backing another pay rise for 2.7M minimum wage and award workers. Today we've made a submission to the Annual Wage Review recommending the Fair Work Commission award an economically sustainable real wage increase to Australia’s award workers. The minimum wage is now $175 a week higher than when we came to office. This is just another way we're helping with the cost of living, alongside all the support we’re rolling out like tax cuts and cheaper medicines.

The RBA is coming to the realisation the deceleration of the 2022 spike in inflation was not all down to its policy settings. And this makes its previous conclusions about the neutral rate misleading for policy purposes. Speak to an RBA that should have been (benefits of hindsight) and now needs to be more proactive on addressing domestic sources of inflation.

Let me summarise the results in 2 words for you - DESTINATION FCKED

One positive about the war is there are noticeably a lot less cars on the road . Cats 🐱feeling the pinch . When crude goes 150 bux + it’s going to be bliss driving around Sydney .

SPY closed today sitting right on the lower edge of the bear pennant which is nearing apex. The oscillators all look ready to roll over as well. When you look at the DXY bouncing off the bottom of it's uptrend channel with some strength and WTI oil confirming its 20DMA as support you can see the case for a rollover tomorrow into Friday unless Iran agrees to some form of ceasefire overnight. The case for further weakness ahead is bolstered by the large put orders on SPY and SPX that came over at the close. I maintain my view that we will see one more flush that takes us to 640 before seeing a violent rip to the upside after reaching that point.

Alex Antic is rapidly becoming Australia's JFK I am in full support.

@mattjcan Sent you an email Matt

We are now spending way more on big business handouts thanks to net zero and the high energy prices it has unleashed, than we ever spent on the car industry.

Great quote from the great Doomberg: "When is the last time that world leaders convened an emergency meeting because of a shortage of solar panels."

@DaveTaylorNews do most people have their head buried in the sand? The damage is done what comes next will hurt.

So Trump will lift all sanctions from Iran (now that WTI dropped to $87). Ceasefire is guaranteed by an alternative Iranian government (not the one that tweets). And Marines and Airborne are going there just for sightseeing ? Maybe the market is a bit naive.

Cigarettes need to get back to 25 dollars a packet to compete. The excise needs to be cut far more. They also have to stop the plain packaging garbage. The imports taste better. People will always smoke, it's not the governments job.

Amazing, everything they touch burns to the fkn ground, the incompetency of this government is really something #ausbiz #Albo

Currently working a timeline of when Australian fuel import cargos would theoretically start not arriving and this would begin to impact fuel stockpiles if alternative sources weren't found. Full article coming on this. TLDR: Mid-April

@nypost what if its his plan to pay off the debt? Wild speculation here. I'm just curious to know why they do it so obviously

$580M oil trades made minutes before Trump's key Iran announcement draw scrutiny trib.al/aEBu4bN

One Nation has called on the government to declare a National Fuel Crisis. Servo pumps are running empty, prices are skyrocketing and regional towns are being strangled. If we're not in a crisis now - then when will they call it one? The big oil companies are strangling the independent distributors who service the regions. That's forcing the prices up in the regions, and then the big oil owned service stations in the cities are increasing to match. The government can try to gaslight us all they want and try to say there's no emergency. Every Australian can see we have a crisis on our hands. It's time for Minister Bowen to use the laws that are in place: declare an emergency, force supplies to the regions and end the price gouging.

@comical_engr @mattjcan @RennickGBR

As an engineer working in the energy sector here is how I would solve our energy crisis: Cancel net zero, what Australia does in this space is pointless. Given our isolation have one year's storage of petroleum products. Build an energy sector that utilises all of our bountiful resources, such as gas, coal, nuclear and some renewables (rooftop solar, geothermal, hydro) Prioritise energy security and cost to consumer. Build refinery capacity to meet our local needs. The refineries should be flexible to support different oil crudes. For energy exports follow the Qatar model, local use first then export to drive down costs. Drill baby drill and consider technology such as Gas to Liquids and biodiesel to shore up our oil reserves. Produce all of our own fertiliser and adblue locally. The gulf crisis has shown the folly of our current approach. Whatever the question is Hydrogen is not the answer. @PaulineHansonOz #auspol