National Cabinet is to consider capping the gas price at $12 when National Cabinet meets Friday. At that high price, the government is gifting super profits to the gas cartel at the expense of Australian customers and industry. A price of $7, new research shows, still leaves solid profits for gas producers. Is $12 the gas cartel number? Rex Patrick writes.

Source: It’s a trap: mooted gas cap plays into the hands of the cartel, locks in high energy prices – Michael West