confidence or none

source: the daily reckoning , this is an extract of todays publication.......pls DYOR.....

--But bureaucratic red tape can also be a kind of political risk. Capital is impatient. It has choices. It goes where it's treated best. If it takes too long to get mines into production in Australia, you sense foreign partners and investors will look for other world-class mineral deposits and projects to develop.

--For example, there is the particular case of uranium. Now that the Western Australian government has introduced legislation to ban uranium mining in WA, foreign investors are indicating they've had enough. Canada's Mega uranium said it will walk away from its $2 billion investment in its WA uranium project because it "cannot continue to invest in projects/jurisdictions in which it has little or no chance of a return. "

--Pretty simple. Of course, if the people of WA decide they don't want a uranium mining industry, that's fine too. That's what self-government is all about. But we also think, in our humble, loud-mouthed, American opinion; this reflects a lack of seriousness in the energy debate in Australia.