@westmount - nonsense you say - what do you call a Sth Australian government changing the rules retrospectively to shaft NRW's security - I call it sovereign risk mate. Do you think NRW would have sought a security like this if they thought the local govt would then latter change the rules and leave the security worthless?
And for the record I've ran businesses in Africa, Middle east, Asia, Russia, Europe and the US and I''m fully aware of the risks and benefits of doing so. Australian under Federal and State ALP governments is at risk of increased sovereign risk like what the SA govt has just done to NRW and its one of the reasons companies like Chevron, BHP, Santos and Woodside are spending their $ elsewhere.
Re Gina and Twiggy - no need to have a chat with them. Gina is already publicly stating Australia is at increased sovereign risk.
In The Australian - Gina Rinehart is absolutely correct to warn of the sovereign risk to investment (“ ‘No green energy projects without existing mining’, says Gina Rinehart”, 16/5), to our competitiveness and to our standard of living by governments that over-regulate, that introduce regulatory uncertainty and are anti – rather than pro – mining ...
She's been warning us of government bureaucracy, our falling reputation as a stable energy market and the concern Australia will be left behind for some time.
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