Australia's Commodities Boom

[Marina Schwarz + 1,576]

...won't last, according to Reuters' Russell. Here.

[markslawson + 1,042]

16 hours ago, Marina Schwarz said:

...won't last, according to Reuters' Russell. Here.

Marina - I think you've forgotten that various forum members, including me, live in Australia. The article is certainly a timely warning to our politicians but the Australian mining boom is generally thought to have peaked in 2012. That's when capex (new investment)  in mining peaked. Prices for every commodity Australia produced went through the roof and stayed high for a long time, mostly thanks to China. Prices have since come down and new investment has trailed off but production volumes have increased enormously so any increase in prices is a real win. Coal prices are still short of the 2012 levels but have surged. That surge is not expected to last but then booms never last. It all depends on China. 

[Marina Schwarz + 1,576]

I haven't forgotten. That's exactly why I posted it. I wanted to hear from you, guys.

Yeah, mining boom maybe but there's still gas. 

[Tom Kirkman + 8,860]

2 hours ago, Marina Schwarz said:

Yeah, mining boom maybe but there's still gas. 

And LNG.

So I heard that Oz may be importing LNG soon, because of huge long term contracts to export Australia's LNG to Asia, leaving locals in the lurch.

That's probably going to make Aussie energy a tad expensive outside of the urban regions.

[NickW + 2,714]

5 hours ago, Tom Kirkman said:

And LNG.

So I heard that Oz may be importing LNG soon, because of huge long term contracts to export Australia's LNG to Asia, leaving locals in the lurch.

That's probably going to make Aussie energy a tad expensive outside of the urban regions.

Yep - Oil and gas in Oz is full of XXXs who sold the country down the river (I'm a dual citizen) on the back of a parliament full of spineless toadies.

A certain proportion of Aussie gas should have been reserved for home use. If not feasible then the developer should have had a clause put in that they supply the equivalent based on some sort of pricing formula even if that means buying it in Qatar and delivering to Australia. That would have also got some LNG import terminals built in the South East.

 

[NickW + 2,714]

5 hours ago, Tom Kirkman said:

And LNG.

So I heard that Oz may be importing LNG soon, because of huge long term contracts to export Australia's LNG to Asia, leaving locals in the lurch.

That's probably going to make Aussie energy a tad expensive outside of the urban regions.

Probably?

Back in 2016 my gas bill in Oz (Perth FFS) was higher than in the UK in 2019. In Oz it basically ran a water heater and stove top.

Part of that is down to the fact Ozzie houses are basically greenhouses with tin shack roof but still in the UK it heats all our water, heating and cooking needs.

Edited April 1, 2019 by NickW

[Tom Kirkman + 8,860]

9 hours ago, NickW said:

Yep - Oil and gas in Oz is full of XXXs who sold the country down the river (I'm a dual citizen) on the back of a parliament full of spineless toadies.

Heh heh, well said.  "Spineless Toadies" seems like a pretty description of many politicians and lawmakers, pretty much anywhere in the world.

Banksy's painting Devolved Parliament for those who haven't seen it:

 

9 hours ago, NickW said:

A certain proportion of Aussie gas should have been reserved for home use. If not feasible then the developer should have had a clause put in that they supply the equivalent based on some sort of pricing formula even if that means buying it in Qatar and delivering to Australia. That would have also got some LNG import terminals built in the South East.

Yep, agreed again.