Energy Policy

Australia is finally admitting its gas export boom was a domestic disaster. From 2027, east coast LNG producers must reserve 15 to 25 percent of output for local use, covering three Queensland plants that serve 27 million people. The policy responds to domestic prices tripling since exports began in 2015, while unlimited overseas sales gifted $149 billion in LNG value over four years. Prime Minister Albanese promises existing contracts stay untouched, but the precedent signals resource nationalism is back as energy security trumps export revenues.

Ed Miliband controls the biggest spending department, the most politically sensitive policies, and increasingly the government's entire economic strategy. His energy and climate brief now touches everything from industrial policy to housing costs, making him more influential than most chancellors. The question hanging over Starmer's cabinet is whether Miliband's technocratic approach can survive contact with voter bills. His carbon pricing plans will determine whether Labour's green transition becomes an economic asset or electoral liability.