All of which use nationalised companies, as in, the government of their respective countries either wholly, or mostly owns the operation...
Again, ask any one of the 80% of Nigerians who live below the poverty line, how having Chevron and Shell contracted to extract their resources has brought prosperity and wealth to the country with the largest supply of oil in Africa.
I totally agree. They must extract the resource at the lowest possible cost. Peter
All of which use nationalised companies, as in, the government of their respective countries either wholly, or mostly owns the operation...
Again, ask any one of the 80% of Nigerians who live below the poverty line, how having Chevron and Shell contracted to extract their resources has brought prosperity and wealth to the country with the largest supply of oil in Africa.
Why do you expect Australia to have an outcome similar to a dysfunctional corrupt and unstable third world country like Nigeria?
It is much more likely to have an outcome similar to that of the Gulf of Mexico 30 years ago which has often been compared with WA today.
Are you trying to claim that Australia will not get the projected income from these facilities or are you trying to claim that the government will act corruptly like Nigeria. Nigeria's major problem is that it refines only a quarter of its oil leaving it way too dependent on the big multinationals. Are you expecting Australian processing facilities to be targeted by unrest?
We will see pretty soon anyway as these big gas facilities are coming online in the near future.
I think the bears are expecting a freight train to hit the Australian economy, the trouble is it is coming in the opposite direction to that which they expect.
Definition of a doom and gloomer from 1993 The last camp is made up of the doom-and-gloomers. Their slogan is "it's the end of the world as we know it". Right now they are convinced that debt is the evil responsible for all our economic woes and must be eliminated at all cost. Many doom-and-gloomers believe that unprecedented debt levels mean that we are on the precipice of a worse crisis than the Great Depression. The doom-and-gloomers hang on the latest series of negative economic data.
Why do you expect Australia to have an outcome similar to a dysfunctional corrupt and unstable third world country like Nigeria?
It is much more likely to have an outcome similar to that of the Gulf of Mexico 30 years ago which has often been compared with WA today.
Are you trying to claim that Australia will not get the projected income from these facilities or are you trying to claim that the government will act corruptly like Nigeria. Nigeria's major problem is that it refines only a quarter of its oil leaving it way too dependent on the big multinationals. Are you expecting Australian processing facilities to be targeted by unrest?
We will see pretty soon anyway as these big gas facilities are coming online in the near future.
I think the bears are expecting a freight train to hit the Australian economy, the trouble is it is coming in the opposite direction to that which they expect.
Thats right we have guys like Eddie Obied and his crew to watch the treasure chest
Why do you expect Australia to have an outcome similar to a dysfunctional corrupt and unstable third world country like Nigeria?
It is much more likely to have an outcome similar to that of the Gulf of Mexico 30 years ago which has often been compared with WA today.
I'm looking at the results of the ICAC in NSW, we might not be a third world country, but we're corrupt with the best of them.
Nigeria is unstable because the multinationals have the power to change their laws, much like the way the mining companies got the Labor government to back down from its resources tax. Hoodwinking the population into thinking it would go badly for them. But the resources are here, they can't move them, they have to either play our game, or we play theirs, I would rather they played ours, but sure, if you want to roll over and let them take, then be my guest, but don't complain if in 30 years, things don't turn out how you expected them to.
It is because the multinationals are there that the people often revolt. I would too if my government was in collusion with large multinationals, to essentially steal the wealth beneath my feet, while I lived on less than $1 a day. If the fabulous wealth that Nigeria has was actually shared with the population, I can't see any reason why there would need to be thieves (beyond the relatively normal first world level of thievery) in the first place.
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Are you trying to claim that Australia will not get the projected income from these facilities or are you trying to claim that the government will act corruptly like Nigeria.
Both, we won't get the projected income, because the projected income is based on peak prices, not actual prices. And the government is corrupt, of course it is.
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Nigeria's major problem is that it refines only a quarter of its oil leaving it way too dependent on the big multinationals.
What? How is that any different to what we are currently doing... Shipping raw iron ore off to be smelted in China, while buying said steel back from the Chinese.
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Are you expecting Australian processing facilities to be targeted by unrest?
Possibly, it depends on how well the government and the companies involved keep the people of Australia asleep.
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We will see pretty soon anyway as these big gas facilities are coming online in the near future.
And that's the problem, they've been built, or are nearing completion, the money in the way we deal with our resources is in the construction phase, the production phase is all about profits for the company and its shareholders, we only get a tiny portion of that in our state and national coffers.
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I think the bears are expecting a freight train to hit the Australian economy, the trouble is it is coming in the opposite direction to that which they expect.
The bears are watching the bulls standing on the tracks, saying come off, there is a train coming, and the bulls are standing there with a dumb look on their faces, saying that it's business as usual, there is no train coming, and if it is, it's slow and stately, and we'll all see it coming, but none of the bulls could even conceive of iron ore being less than $100 a ton, but look at it today, less than $80 a ton.
"If man is to survive, he will have learned to take a delight in the essential differences between men and between cultures. He will learn that differences in ideas and attitudes are a delight, part of life's exciting variety, not something to fear." - Gene Roddenberry
"Balloon animals are a great way to teach children that the things they love dearly, may spontaneously explode" -- Lee Camp
Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$ It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do. Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
The whole point of the expression : "thinking the grass is greener on the other side" is that it isn't.
Its the same colour.
Property acquisition as a topic was almost a national obsession. You couldn't even call it speculation as the buyers all presumed the price of property could only go up. That’s why we use the word obsession. Ordinary people were buying properties for their young children who had not even left school assuming they would not be able to afford property of their own when they left college- Klaus Regling on Ireland. Sound familiar?
The evidence of nearly 40 cycles in house prices for 17 OECD economies since 1970 shows that real house prices typically give up about 70 per cent of their rise in the subsequent fall, and that these falls occur slowly. Morgan Kelly:On the Likely Extent of Falls in Irish House Prices, 2007
Are you trying to claim that Australia will not get the projected income from these facilities or are you trying to claim that the government will act corruptly like Nigeria. Nigeria's major problem is that it refines only a quarter of its oil leaving it way too dependent on the big multinationals. Are you expecting Australian processing facilities to be targeted by unrest?
Very interesting point, I may refer you to news of closure of oil refineries around Australia. Only half of fuel at pump would be sourced within this country by the end of this year. Yes, we are on our way to Nigeria.
The whole point of the expression : "thinking the grass is greener on the other side" is that it isn't.
Its the same colour.
I think that was the point she was making, however...
Sometimes the grass is actually greener, sometime very much more.
Some houses water their lawn with pristine water, fertilise and aerate, they meticulously care for their lawn, while some take the 'she'll be right' attitude and wait for it to rain, often the house that takes care of their lawn has something they can be proud of, whereas the house that waits for rain has brown patches.
"If man is to survive, he will have learned to take a delight in the essential differences between men and between cultures. He will learn that differences in ideas and attitudes are a delight, part of life's exciting variety, not something to fear." - Gene Roddenberry
"Balloon animals are a great way to teach children that the things they love dearly, may spontaneously explode" -- Lee Camp
Skamy seems to be one of the shrinking number of people who simply can't come to terms with the fact that the boom from resources is behind us, not ahead of us.
Mind you, I do expect the ore price to rebound sooner or later. But unlikely to be enough to to rescue the boom in investing in more capacity - we are swimming in supply as it is.
Another 700 to go from coal in my neck of the woods I see. But of course, WA is different - it will boom forever, free of any fundamental demand for what it produces. Truly the promised land
Skamy seems to be one of the shrinking number of people who simply can't come to terms with the fact that the boom from resources is behind us, not ahead of us.
The rain came and went, and we didn't save any of it. In the false hope that it will keep raining, forever.
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Mind you, I do expect the ore price to rebound sooner or later. But unlikely to be enough to to rescue the boom in investing in more capacity - we are swimming in supply as it is.
Quite true, but likely only when the larger players have either pushed or bought out the smaller players.
"If man is to survive, he will have learned to take a delight in the essential differences between men and between cultures. He will learn that differences in ideas and attitudes are a delight, part of life's exciting variety, not something to fear." - Gene Roddenberry
"Balloon animals are a great way to teach children that the things they love dearly, may spontaneously explode" -- Lee Camp
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