As renewed chaos grips the oil market, China is reaping the benefits of electric vehicles. But Australia’s reliance on diesel leaves it exposed.
- Senior Lecturer in Finance, Macquarie University
It’s highly unlikely Australia will end up with no diesel. But if what is available becomes extremely expensive, the whole economy – and all of us – will feel it.
Electricity prices are going up again by as much as 25% on July 1. The advice to consumers is to shop around to get the best deal. Yet neither electricity bills nor comparison sites are user-friendly.
The rain comes as coal demand surges and pressure mounts for the industry to wind back production to help tackle climate change.
Extreme weather is behind much of the crisis, but it will make the transition to new energy sources more complicated.
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