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tangs

38,085 Posts.

501

06/11/22

13:59

Post #: 64613688
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Originally posted by moorookamick: ↑

: We are in a sweet spot getting top dollar for marginal production of gas, coal and iron ore."

These industries are almost totally foreign owned (eg: BHP 92% foreign owned, RIO almost 90% & 90% of
our coalmines are foreign owned) so according to Capitalism, the profits -in this case the windfall profits-
go overseas. So when you say "we.............are getting top dollar " I assume that you are a foreigner....eh?

Sure we're getting labour like the blacks in Africa or the Campensinos in South America.
We delude ourselves by thinking that IO, Coal, LNG, is ours.

Just try Nationalising and you'll soon receive a love letter from Uncle Sam...eh?

The foreign concentration of "Aus" coal has intensified in the interim by the sale of RIO
& BHP coal assets to foreigners including Glencore & the Chinese (HK)

In this respect we're still colonials except the "colony" is owned by overseas Capitalists;
not Mother England...eh?

And dont mention Adani.......

Expand

your point is well made
Fortescue and some others are exceptions

I do note iron ore price has come right off too
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