Ann: Company presentation, page-310

Thanks for posting, Coalhardcash — an interesting interview. I was struck by the comment attributed to the Chevron CEO: referring to extortionate government royalties, our bizarre IR laws (and no doubt the maze of State and federal environmental regulation), his comment was: “it’s a political nightmare to work in Australia right now”. That comment would not have been made lightly. The translation is obvious: Chevron won’t be making fresh investments in Australia while this cluttered mess of government intrusion remains in place. It echoes similar comments made (more delicately) by senior Japanese politicians and business leaders.

I hope that Dan Porter is right when he speculates that Queensland’s coal royalties regime might be wound back somewhat post the State election due in October this year, but I’ll believe it when I see it.