"...What does another governments potential protectionist policies have to do with the Australian government's giving handout..."
You were the one who brought the global economy/free trade into this debate. The point is that the US realise the importance of protecting industry that is important to their economic wellbeing, and this coming from the champions of free trade and globalisation. If you fail to see the importance of the mining industry and our natural wealth to this country, then no one amount of debate here will help you with that.
Further, I have not suggested a handout to OZL, I suggested a buyout of OZL (and I share the same belief with RIO)...there is a difference there.
"...Do you honestly think every Australian resource should be 100% Australian owned? There shouldn't be a single foreign $ allowed to buy Australian resources?..."
As much as I would like it to be, no, it's not a workable policy...unfortunately we simply do not possess the means, or more to the point, foresight, to fully utilise the wealth that this nation possesses beneath it's feet...but, in saying that I am certainly against outright ownership of any resource/resource company...at the most, I think that only 10-15% should be allowed by any one foreign entity, capped to a total of 30-35% in total by foreign interests, in any one company or resource. It is certainly not in Australia's interest to allow our mineral wealth to be controlled by foreigners.
"...Do you think we should have 45% tariffs to protect the local car industry?..."
No...the car industry is not something that we have an advantage in, and never will have...our mineral wealth is a completely different story though. In any case, that is chalk and cheese...our automotive industry doesn't bring in the extremely significant export dollars that our natural resources do....they are more than poles apart.
I have no issue in domestic interests acquiring OZL or any other resource company in trouble...but, if it comes to the point where a foreign entity, and particularly a foreign government, is allowed to acquire 100% ownership, then I do take issue with that. I would rather that the FIRB reject MM's offer, and allow OZL to fold...let the administrators come in and sell OZL's assets piece by piece..incidentally, I think that that would bring in a greater return to OZL shareholders than the opportunistic bid that a foreign govt has put in.
Any other questions??
OZL Price at posting:
$6.50 Sentiment: Hold Disclosure: Held
