... it's a Gas!
http://www.theaustralian.news.com.au/business/story/0,28124,25950461-5005200,00.html
Now that the "Global Financial Crisis" is apparently over, and you've got back to bickering over why we shouldn't be building new rail projects because they are to expensive, perhaps someone would like to explain to me why this $50bn deal to sell natural gas to China was ever allowed to go ahead?
The way I understand the Gorgon Project, the breakup of the interested partied is thus:
50% - Chevron Australia (a subsidiary of Chevron) (50%)
25% - Shell Development Australia (a subsidiary of Royal Dutch Shell) (25%)
25% - Mobil Australia Resources (a subsidiary of Exxon Mobil) (25%)
None of these companies is Australian. This means that the actual resources flow out of the country and $300bn in sales, which equates to $235bn in profits also flows out of Australia.
I understand perfectly that without private investment, projects like this would not occur but perhaps someone could explain to me why an Australian company couldn't do it? Do we simply not possess the skill? Are Australians that stupid?
Even I can work out that the $300bn in sales would have "stimulated" the Australian economy more than the $40bn which is expected to be taken in taxation. Maybe we are that stupid.
While I think about it, considering that the price of crude oil is probably going to skyrocket over the next 10 years, then why didn't the Australian Government just decree that cars on Australian roads progressively switch over to natural gas? That way irrespective of what the price of crude was, we'd always have our own readily available supply but no - that will never happen now. Now that's stupid, simply stupid.
Once again, international business yet again has sold Australia very short indeed, and yet even though we have hostile relations with China, the utility of the scheme is enough for the whole thing to be rubber stamped.
Hello world, welcome to Australia. A land so incredibly stupid, that we rejoice when people steal from us.
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