Ann: Australian Domestic Gas Outlook Conference, page-52

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alexei ii

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29/03/21

13:26

Post #: 52112763
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Originally posted by DanglingPointer: ↑

What a load of rubbish, WA is 15% of GDP and are happy when they take more money from our whole country for the majority of its historic existence! NSW and VIC have spent more time below 1.0 index (see chart below) since 81! Which means NSW and VIC have been subsidising all other places for much of its history! I quote... "We drive the GDP...". No you don't, you add 15%, that's it. You may earn a lot per capita, but it is just still, all up, just adding 15%. You're not driving it. Call a spade a spade.

There's only 1 country and that's Australia. When/if the time comes where national energy security is at stake then there's nothing that WA can do per the constitution as it doesn't belong to them, it belongs to everyone in Australia! For now your arrogant premier can talk that way and get away with it due to his populist narrative. The Feds won't pick a fight with the voters there.

The STX WA narrative in the marketing presentations is, candidly speaking, purely to stay in the good side of the current populist labour government who want to continue talking tough in protecting their state's energy interests. That's fair enough and there's still plenty of gas in the east even with all the bad news, to go around albeit at higher prices due to demand and dynamism in the market compared to the simplistic gas market of WA.

As long as STX appeals to the "WA First" slogan narrative (just like Trump's "America First) then there will be less governance resistance to STX getting support and approvals to the work it is trying to accomplish.

I've a significant amount of money invested in STX and will support this "WA First" narrative for now because it is good for the company especially now because it is trying to get started. It is still basically at its infancy. But once those Gj start flowing, and the pandemic is over, a lot less populist narrative would do well otherwise they would eventually get bad press in a country where WA is a minority, at which case the stock price will see itself affected.

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Great points. One of the biggest issues this country faces is the entrenched state based parochialism taking over common sense and the collective good.

My sense is that the board is emphasising the WA component to how SH that their heart is in the right place when making business decisions. Its also communicating that to Govt... I suspect the emphasis on "WA ness" is to let people know these guys are going to look after the home rather than giving it away to foreign owned entities to do with as they please (which more often than not is todress up their quarterly balance sheet, or take care of their own home). Having a "home grown" and "home owned" business means you can wear a few weak balance sheets early on, in return for a bonanza later. STX will help increase the 15% contribution by chasing the value add instead of short term gains.

Last edited by alexei ii: 29/03/21

STX Price at posting: 33.5¢ Sentiment: Buy Disclosure: Held
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