An article recently pointed out that over 50% of Australian voters are on the Labor Teat - as bureaucracy, or welfare recipients... which I guess explains our stupidity of voting in and still supporting Labor and Albo, which together must rank as the most anti-Australian, most unpatriotic government and PM in our history.
Someone in the North West Shelf Project told me that the Japanese were pissed off because Australia had told the Japanese to slow down their LNG tankers so they would emit less carbon on their way to Japan. Do you have any more examples of such Australian stupidity? It is good to point out there is a big problem which the Australian public aren't told about. But it would be a great help to compile a list of all the individual stupidities that are concerning Korea and Japan.
David, Korea’s KEPCO, 85% of Korea’s power generation bought into Bylong with the expectation of being able to mine coal but after a decade, losing two High Court challenges they had their mining license application rejected by the Independent Planning Commission. US$1 billion up in smoke.
Should take us to international court for breach of contract? Or something. Between the utter stupidity of both major political parties and the absurdity of activism trumping national interests in courts (take Stellion putting 'indigenous law' which only exists in someone's head and is not even written - over open law over Blayney gold mine) we are the fattest boiling frog ever to willingly hop into our own pot. This self-immolation has to stop. The only pollie who speaks consistently and sensibly is Matt Canavan but even his own party preferred the bantamweight Littleproud. Just shows our stupidity knows no bounds.
The tankers run on LNG fuel, they leave just enough to do a return trip to Australia. The boil off gas is used for propulsion, and some is re-liquified with the leftover energy. I'm surprised Bowen hasn't demanded sails and wind turbine on the Vessels.
It seems laughable that Chief Numpty Chris Blowen-in-the wind, would think we can run Data Centres on Wind & Solar. There would not be enough power to keep them running 24-7 to get the payback required before the components are obselete. It would be good if we could build a few nuclear reactors, to attract some nuclear workers and scientists, plus for the AUKUS which will prob not eventuate, but who knows?
The Gas/Coal Royalties do seem low at $150B for 50yrs of exports, but I think most of that would be in the last 20yrs since NWS, Gorgon and GLNG all opened/expanded. I heard that Qatar/Norway tax exports more highly and put them into a sovereign wealth fund. I know that Chalmers & Albo would eyeing any surplus off for their usual pork barrelling on steroids programs. We truely are the "lucky Country" as Donald Horne coined and he was not being literal. If Russia gets back in the good books with USA, then we better watch out.
Well David, I certainly just learnt that I don't know much about Nuclear Reactors. I recall Peak Oil in 2005, it seems we only pushed the peak out by 5yrs or so. Replacing our way of energy endowment with Solar sounds beyond dumb, how can we wake up our government, they seem to focused on getting kickbacks from China than preparing Australia for the next 50yrs? I'm in WA so we are facing issues not quite as dire as the East coast but not far behind.
I am also in Perth. The problem with Perth's power supply is that it is glued together with power produced by burning natural gas in turbines. When the oil supply tightens again, all the substitutes for oil will go to the oil price in energy content terms. In 2008, there was a cargo of LNG imported into Thailand which sold at higher than the oil price. So Perth will have a power supply costing almost what it would cost to provide it by diesel generators. Very third world.
A big element of our impending catastrophe as a nation is that we are approaching the peak of the 18 year real estate cycle in 2026/27, which is dovetailing with the winter of the 54/108 year Kondratiev cycle, the 250 year empire cycle in 2026 (end of American hegemony) and the 100 year anniversary of the Great Crash in 1929. While there is inevitability, there are also opportunities to ride the turbulence. One of those opportunities is to choose your friends wisely. Australia's politicians are caught up in ideological fantasies about leading the world to purity (net zero, social media bans, resources red tape, etc) while a complacent citizenry is sleepwalking into a disaster of our own making
The spiritual impoverishment of Australia's elites is resulting in a self flagellation of economic destruction. Truly, what we are being subject to is the effects of warped spiritualities, political and otherwise, hell bent on punishing ... and the more punishment, the more mindless wreckage, the more that self-righteousness grows. When healthy religion is demolished, warped versions will occupy that space
For the life of me … I just don’t understand why we are doing this to ourselves. Our leaders cannot possibly be this delusional or stupid. But, what I have noticed more and more in recent times, particularly in the West is how ‘one’ politician is wilfully prepared to waste, squander and turn a blind eye to billion dollar frauds just to keep ‘one’ lousy job … and to hell with future.
Says it all, very embarrassing.... how stupid are we?
It is no surprise that Japan ranks first place in the Harvard University Economic Complexity Index (ECI). Australia ranks 105th out of 145 nations, behind Yemen, Uganda and Iran... The Fraser Research Institute conducts a global survey on mining investment attractiveness. No state makes the top 10, and NSW has fallen from 27th to 62nd over the past five years out of 82 jurisdictions, behind the Democratic Republic of Congo, Ivory Coast and Zimbabwe. Victoria is ranked 63rd.
The easy fix to this very fixable situation is a dollop of common sense from the nation's leadership. The hard part, maybe impossible part given our current political choices, is finding that strong leadership. Coo-ee?
A comment from a trading colleague of mine in Singapore a few years ago really stuck with me. He said Australia “is quiet quitting the energy business” and all the wealth and prosperity that comes with it.
As a mining professional I was horrified, but sadly not surprised, when WA dropped out of the top 10 favourable jurisdictions for mining. This is the state that absolutely depends on mining and has always promoted itself as the best mining region on the planet. The state government has taken mining for granted for too long and doesn’t appear to have even noticed the change.
Ideology is not the problem. People simply don't agree on the magnitude of the costs incurred by continuing the use of fossil fuels. One could say that the disagreement stems from some kind of ideological differences but that avoids the realities and hence the prospects of reconciling different views. One view is that the costs are huge, perhaps infinite, and amount to "destroying the planet". The other is that the costs are finite and greatly outweighed by the benefits fossil fuels offer. The difference is definitely a scientific/technical one, with clear involvement of individual temperaments. A rationally based tradeoff is clearly feasible. Don't fold in the face of apparent ideology.
Just more of the usual nonsense from the fossil fools. Has it ever occurred to you that most people do not consider the accumulation of wealth to be their greatest national or personal priority. You see we have these things, apparently largely missing in your case, called “VALUES” these are things we consider to be more important than wringing the last possible dollar from what will become stranded assets soon enough, though assuming you are as old as your attitudes, perhaps not in your lifetime.
Oh dear you haven't really understood the article at all. It is not about private wealth it's about things that you call (or I presume you do) 'values'... eg access to food and fresh water, shelter, hot water and heating, public transport, public hospitals, a pension if you are elderly (the money has to come from somewhere son), and a job (again the money has to come from somewhere, taxpayers if you're a public servant) so you can pay for your essential and your perks like a beer on Friday, tickets to footy and an annual holiday.... if you'd like further help in understanding how your ability to comment on your iPhone to a Substack column and that is linked to fossil fuels let me know: I can recommend some books on basic economics.
Ha ha so you went along for the ride. A few big numbers, a claim for authority, and a couple of alarmist predictions is all it takes to fool some people. To be fair they are pretty good at this, after all they have had decades of practice and have been well funded by the numerous industry fronts set up for that purpose. There are numerous scientific and governmental sites that might not be perfect but provide accurate and comprehensive data on energy issues and actually mention climate change. Talk about elephants in the room! Didn’t even get a guernsey here!
I'll let you in on a secret... the planet is dynamic. Its climate is always changing. Once upon a time we had much, much higher levels of CO2 on the planet... yep it was pretty lush. Another time we had way more ice and less water, another we had way more dry and less water. If in doubt just check up on the planet's geology and carbon testing etc: it could help you. No one is arguing climate change by the way. What is being argued is how to power a first world country on wind and sun. Believe it or not there are times when the sun don't shine and the wind don't blow (the latter are called wind droughts - yep they exist). Science on the other hand will tell you that renewables cannot provide sustained heat at high enough temperatures to make steel, so what are you going to do about your next car or bicycle, or fridge, or your house, or the fact there's no planes to fly you about, or trains or ships. Tad problematic. And all that money you think people are after for themselves, well here's another secret... miners pay taxes. So do their employees. Yes, it's a fact. So do businesses including the place you get your latte (which needs steel by the way - ie the machine) every morning. And guess what, those taxes go to provide those values you want - public education, public hospitals, public services, pensions, disability payments, infrastructure like tunnels, roads and bridges. Values in my world are about giving everyone the opportunity to achieve, to get educated, to have a home, to feel safe in the country they live in, to have enough food (guess what, it's not all grown in a petrie dish), and while I may be older than you (which accounts for having a lot more experience to call on about how things work and how they get paid for), my attitudes as you call them are actually mainstream Aussie. I don't indulge in moral vanities and luxury beliefs, I have no need to virtue signal. I simply get on with my job, pay my taxes and hope that one day the young generations so keen to be activists today, might one day mature into sensible beings that appreciate nuclear or geothermal or coal or gas power because without them your AI won't happen, data centres won't function, and robots to do your laundry won't exist.
I don’t know how old you are but I first learnt about climate change in a physics lecture in 1973 and, through-out my career, have followed the development of climate science since. This includes the remarkable accuracy of IPCC predictions since their very first report. Your obviously biased view and extremely limited understanding disqualify you from serious consideration but here’s something to keep you busy. Find an error in the latest IPCC report. No, not a conclusion you disagree with but some flaw in the evidence. Until you find one I would suggest you refrain from your ignorant, reactionary comments. Some people might believe you, though probably not the residents of islands threatened by inundation or the hundreds of millions living in low lying coastal areas alrrady experiencing ongoing climate disasters. Good bye
An article recently pointed out that over 50% of Australian voters are on the Labor Teat - as bureaucracy, or welfare recipients... which I guess explains our stupidity of voting in and still supporting Labor and Albo, which together must rank as the most anti-Australian, most unpatriotic government and PM in our history.
I think that is the nub of the problem.
Someone in the North West Shelf Project told me that the Japanese were pissed off because Australia had told the Japanese to slow down their LNG tankers so they would emit less carbon on their way to Japan. Do you have any more examples of such Australian stupidity? It is good to point out there is a big problem which the Australian public aren't told about. But it would be a great help to compile a list of all the individual stupidities that are concerning Korea and Japan.
David, Korea’s KEPCO, 85% of Korea’s power generation bought into Bylong with the expectation of being able to mine coal but after a decade, losing two High Court challenges they had their mining license application rejected by the Independent Planning Commission. US$1 billion up in smoke.
Should take us to international court for breach of contract? Or something. Between the utter stupidity of both major political parties and the absurdity of activism trumping national interests in courts (take Stellion putting 'indigenous law' which only exists in someone's head and is not even written - over open law over Blayney gold mine) we are the fattest boiling frog ever to willingly hop into our own pot. This self-immolation has to stop. The only pollie who speaks consistently and sensibly is Matt Canavan but even his own party preferred the bantamweight Littleproud. Just shows our stupidity knows no bounds.
The tankers run on LNG fuel, they leave just enough to do a return trip to Australia. The boil off gas is used for propulsion, and some is re-liquified with the leftover energy. I'm surprised Bowen hasn't demanded sails and wind turbine on the Vessels.
It seems laughable that Chief Numpty Chris Blowen-in-the wind, would think we can run Data Centres on Wind & Solar. There would not be enough power to keep them running 24-7 to get the payback required before the components are obselete. It would be good if we could build a few nuclear reactors, to attract some nuclear workers and scientists, plus for the AUKUS which will prob not eventuate, but who knows?
The Gas/Coal Royalties do seem low at $150B for 50yrs of exports, but I think most of that would be in the last 20yrs since NWS, Gorgon and GLNG all opened/expanded. I heard that Qatar/Norway tax exports more highly and put them into a sovereign wealth fund. I know that Chalmers & Albo would eyeing any surplus off for their usual pork barrelling on steroids programs. We truely are the "lucky Country" as Donald Horne coined and he was not being literal. If Russia gets back in the good books with USA, then we better watch out.
Shawn, my take on the energy front: https://substack.com/home/post/p-178757183
Well David, I certainly just learnt that I don't know much about Nuclear Reactors. I recall Peak Oil in 2005, it seems we only pushed the peak out by 5yrs or so. Replacing our way of energy endowment with Solar sounds beyond dumb, how can we wake up our government, they seem to focused on getting kickbacks from China than preparing Australia for the next 50yrs? I'm in WA so we are facing issues not quite as dire as the East coast but not far behind.
I am also in Perth. The problem with Perth's power supply is that it is glued together with power produced by burning natural gas in turbines. When the oil supply tightens again, all the substitutes for oil will go to the oil price in energy content terms. In 2008, there was a cargo of LNG imported into Thailand which sold at higher than the oil price. So Perth will have a power supply costing almost what it would cost to provide it by diesel generators. Very third world.
A big element of our impending catastrophe as a nation is that we are approaching the peak of the 18 year real estate cycle in 2026/27, which is dovetailing with the winter of the 54/108 year Kondratiev cycle, the 250 year empire cycle in 2026 (end of American hegemony) and the 100 year anniversary of the Great Crash in 1929. While there is inevitability, there are also opportunities to ride the turbulence. One of those opportunities is to choose your friends wisely. Australia's politicians are caught up in ideological fantasies about leading the world to purity (net zero, social media bans, resources red tape, etc) while a complacent citizenry is sleepwalking into a disaster of our own making
The spiritual impoverishment of Australia's elites is resulting in a self flagellation of economic destruction. Truly, what we are being subject to is the effects of warped spiritualities, political and otherwise, hell bent on punishing ... and the more punishment, the more mindless wreckage, the more that self-righteousness grows. When healthy religion is demolished, warped versions will occupy that space
For the life of me … I just don’t understand why we are doing this to ourselves. Our leaders cannot possibly be this delusional or stupid. But, what I have noticed more and more in recent times, particularly in the West is how ‘one’ politician is wilfully prepared to waste, squander and turn a blind eye to billion dollar frauds just to keep ‘one’ lousy job … and to hell with future.
Australia is a brain dead country now unworthy of its founders.
Says it all, very embarrassing.... how stupid are we?
It is no surprise that Japan ranks first place in the Harvard University Economic Complexity Index (ECI). Australia ranks 105th out of 145 nations, behind Yemen, Uganda and Iran... The Fraser Research Institute conducts a global survey on mining investment attractiveness. No state makes the top 10, and NSW has fallen from 27th to 62nd over the past five years out of 82 jurisdictions, behind the Democratic Republic of Congo, Ivory Coast and Zimbabwe. Victoria is ranked 63rd.
The easy fix to this very fixable situation is a dollop of common sense from the nation's leadership. The hard part, maybe impossible part given our current political choices, is finding that strong leadership. Coo-ee?
The stupidity leaves me astonished and speechless.
A comment from a trading colleague of mine in Singapore a few years ago really stuck with me. He said Australia “is quiet quitting the energy business” and all the wealth and prosperity that comes with it.
As a mining professional I was horrified, but sadly not surprised, when WA dropped out of the top 10 favourable jurisdictions for mining. This is the state that absolutely depends on mining and has always promoted itself as the best mining region on the planet. The state government has taken mining for granted for too long and doesn’t appear to have even noticed the change.
Ideology is not the problem. People simply don't agree on the magnitude of the costs incurred by continuing the use of fossil fuels. One could say that the disagreement stems from some kind of ideological differences but that avoids the realities and hence the prospects of reconciling different views. One view is that the costs are huge, perhaps infinite, and amount to "destroying the planet". The other is that the costs are finite and greatly outweighed by the benefits fossil fuels offer. The difference is definitely a scientific/technical one, with clear involvement of individual temperaments. A rationally based tradeoff is clearly feasible. Don't fold in the face of apparent ideology.
Alaska LNG will be Japan's preference.
Just more of the usual nonsense from the fossil fools. Has it ever occurred to you that most people do not consider the accumulation of wealth to be their greatest national or personal priority. You see we have these things, apparently largely missing in your case, called “VALUES” these are things we consider to be more important than wringing the last possible dollar from what will become stranded assets soon enough, though assuming you are as old as your attitudes, perhaps not in your lifetime.
Oh dear you haven't really understood the article at all. It is not about private wealth it's about things that you call (or I presume you do) 'values'... eg access to food and fresh water, shelter, hot water and heating, public transport, public hospitals, a pension if you are elderly (the money has to come from somewhere son), and a job (again the money has to come from somewhere, taxpayers if you're a public servant) so you can pay for your essential and your perks like a beer on Friday, tickets to footy and an annual holiday.... if you'd like further help in understanding how your ability to comment on your iPhone to a Substack column and that is linked to fossil fuels let me know: I can recommend some books on basic economics.
Well said. Energy is life and there are no values without life.
Ha ha so you went along for the ride. A few big numbers, a claim for authority, and a couple of alarmist predictions is all it takes to fool some people. To be fair they are pretty good at this, after all they have had decades of practice and have been well funded by the numerous industry fronts set up for that purpose. There are numerous scientific and governmental sites that might not be perfect but provide accurate and comprehensive data on energy issues and actually mention climate change. Talk about elephants in the room! Didn’t even get a guernsey here!
I'll let you in on a secret... the planet is dynamic. Its climate is always changing. Once upon a time we had much, much higher levels of CO2 on the planet... yep it was pretty lush. Another time we had way more ice and less water, another we had way more dry and less water. If in doubt just check up on the planet's geology and carbon testing etc: it could help you. No one is arguing climate change by the way. What is being argued is how to power a first world country on wind and sun. Believe it or not there are times when the sun don't shine and the wind don't blow (the latter are called wind droughts - yep they exist). Science on the other hand will tell you that renewables cannot provide sustained heat at high enough temperatures to make steel, so what are you going to do about your next car or bicycle, or fridge, or your house, or the fact there's no planes to fly you about, or trains or ships. Tad problematic. And all that money you think people are after for themselves, well here's another secret... miners pay taxes. So do their employees. Yes, it's a fact. So do businesses including the place you get your latte (which needs steel by the way - ie the machine) every morning. And guess what, those taxes go to provide those values you want - public education, public hospitals, public services, pensions, disability payments, infrastructure like tunnels, roads and bridges. Values in my world are about giving everyone the opportunity to achieve, to get educated, to have a home, to feel safe in the country they live in, to have enough food (guess what, it's not all grown in a petrie dish), and while I may be older than you (which accounts for having a lot more experience to call on about how things work and how they get paid for), my attitudes as you call them are actually mainstream Aussie. I don't indulge in moral vanities and luxury beliefs, I have no need to virtue signal. I simply get on with my job, pay my taxes and hope that one day the young generations so keen to be activists today, might one day mature into sensible beings that appreciate nuclear or geothermal or coal or gas power because without them your AI won't happen, data centres won't function, and robots to do your laundry won't exist.
👌
I don’t know how old you are but I first learnt about climate change in a physics lecture in 1973 and, through-out my career, have followed the development of climate science since. This includes the remarkable accuracy of IPCC predictions since their very first report. Your obviously biased view and extremely limited understanding disqualify you from serious consideration but here’s something to keep you busy. Find an error in the latest IPCC report. No, not a conclusion you disagree with but some flaw in the evidence. Until you find one I would suggest you refrain from your ignorant, reactionary comments. Some people might believe you, though probably not the residents of islands threatened by inundation or the hundreds of millions living in low lying coastal areas alrrady experiencing ongoing climate disasters. Good bye