The BHP example is exactly why you don't want govt investing in these sectors that involve both risk and expertise. When it's private capital a LOT more care is taken and it still goes wrong often.
Imagine the Andrews govt investing in biotechs ....
- they started out by spending $1.2B to not build a road
- they spent nearly $1B on airport rail only to can it
- they spent $600m on the Commonwealth games only to can it
- the list goes on
Imagine how much they'd waste chasing the next wonder drugs, it makes me shudder just thinking about that!
