pomtastic

Well, well, well, exactly my views.

The big media companies are owned by the mining magnates, so one would expect the propaganda.

Read a report the other day saying that only $3 billion of the the $43 billion Gorgon project would benefit WA businesses.

For anyone who has borrowed up to the max to benefit from the so called coming 'boom' - be careful, it just might be a tad over hyped!


http://www.brisbanetimes.com.au/busi...908-1jyxs.html

hoofie2002

What if I tell you that report comes from a recognised progressive, left-wing think tank that includes union presidents and Bob Browns' Chief of Staff ?

ozzieeagle

Meanwhile "The Australian" reports how Australia looks forwards to decades of prosperity and is now in one of the most enviable situations a Country can be in these troubled times.

Depending on how you see the World is which report you will take most notice of.... I being a migrant with a positive outlook prefer this scenario. . I also believe The Australian Newspaper carries more Kudos than The Brisbane times.

http://www.theaustralian.com.au/busi...-1226132603873

Amazulu

I agree, but as said on BE before, haters gotta hate.

ozzieeagle

I forgot to add the traditional icing on the cake quote as to get my point across for all to peruse.

A report commissioned by ANZ highlights that what we are seeing unfold in our resources and agriculture sectors is not a routine commodities boom, but the result of a more fundamental structural shift in the global economy as growth shifts to Asia.

It's a shift that is well under way and has decades to run.
The direct export opportunity is unparalleled in Australian history and if Australia can expand capacity fast enough, export revenues from hard and soft commodities could reach about $500 billion in real terms by 2030.
The scale of the investment required is also unprecedented.
To achieve this level of export growth, about $1.8 trillion in investment will be required over the next 20 years.
But there is major change under way in the economy that is leading to some sectors growing spectacularly while others experience significant pressure.
So while other OECD countries worry about the problem of a lack of growth, Australia's problem is how best to manage the opportunity we have.
Clearly, there's more that Australia needs to do to shape our economy more strategically so we can manage this structural shift and maximise the opportunity for all Australians.
But if Australia is going to maximise this opportunity, we must learn from what we are seeing in Europe and the US, and we have to regain our energy for transformation and reform.

Amazulu

Another thing to add is that whichever way you slice or dice it, Australia is going to be an LNG superpower in 10-15 years.

ozzieeagle

You hardly ever see mention of agriculture on these boards and exports from that have close to limitless potential.

So I'd say we'll hold our collective heads above the water.... Who knows our kids could be seen as wealthy as the Saudis are at present.

Imagine a Country that can do as well in Energy and Mining as it does in Agriculture... let's throw in a little bit of tourism just to finish the whole kit and kaboddle... now that would be something !

Amazulu

Agriculture is a good point and is often overlooked. Australia (and New Zealand) has the potential to feed a big chunk of Asia, as well as it's own people.

Sherlock Holmes

I really don't mean this reply to be a downer or a trolly type thing. I'm glad I'm here and yes, Oz is probably the best placed country in the world to cope with some of the financial strife that is round the corner. And, yes, Oz has the capacity for agricultural growth.

However, there is a problem with young people deserting the farming business. Round here it is mainly sheep, wool, beef and dairy production. It is good land and drought is a rarity. A lot of my customers are farmers, they are all 55+ in years and all have a few children. All of the children have left and have no interest in taking over.

The current owners have nil chance of selling their farms as going concerns. They are all doing well but they work many hours a week.

Just a thought.

Amazulu

It's a good post. Farming can be financially rewarding but can also be very tough physically and mentally. Very few people can do it and I'm not surprised that their children don't want to.

It's a problem.

jimbo_d

So what's the other option then - leave it all in the ground so no-one benefits?

btw Chevron's Gorgon project is a LNG plant, nothing to do with mining.

pomtastic

The Australian is News Limited owned, Brisbane Times is Fairfax owned.

News Limited is owned by the Murdochs! Kudos indeed.

northernbird

To idiots like him it is all the same.

Kalenge

Well, well, well ... every time you post something about mining, and the oil & gas industries it's blindingly obvious that you know nothing about them at all. Picking up one article in isolation isn't going to give you the all-rounded understanding you think you have.

ozzieeagle

Would you say that The Times and The Sunday times has less Kudos ? They are both Murdoch owned as well.