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Surging energy bills make foreign investors rich

Michael McLaren

Michael is joined by Ian Verrender, ABC News Business Editor, about the astronomical rise in the cost of Australian gas which he says should have all Australians angered.

“Not only is it hitting household budgets directly and escalating costs to local business, it also is a major contributing factor in the recent spike in electricity prices”, says Mr Verrender.

“Most of the windfall profits being earned at the moment — courtesy of Vladimir Putin’s invasion of Ukraine — are being funnelled out of the country because Australia’s oil and gas resources are overwhelmingly exploited by global multinationals.”

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Michael McLaren
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