Wheres the growth?

I gott'a admit to being bored to death with the continual harping/carping/charting on the POO guys ... it'll be what it'll be on a daily basis and, eventually, given the worldwide capex collapse, go for a run.
What I'm worried about (and I believe Mr. Market also) is ... where the hell is our sp growth coming from?
The management team have slashed and burnt, as the situation required, and the projected output should be enough to keep them in their, very well paid, positions for years to come ... but where's the growth??
Dividends are not on the radar, a take-over is not even a remote possibility and, as far as I can see the plan is cautious growth for the foreseeable future i.e. enough income to keep our esteemed management content but bugger-all else.
Before I'm condemned as a downramper ... SXY is my SMSF's largest aussie oiler - and I'm well in the black with it ... but I would really appreciate somebody pointing out where the hell our sp growth was gunna come from?
glta...