OT: Current Affairs and Politics

[hindy111]

Good point. The short lifespan on those things is a major problem.

It's like cheap led light. They arent fixable and a throw away item made from plastic. Every 1-3yrs they are dead. Atleast older fitting just meant replacing globes.

 

[crocodile]

American Indians would put people who where not able to look after themself on an ice berg and push them into the ocean. They would induce mushrooms and go on a mystical trip. Once the iceberg melted they would die.

It isn't perfect but it's a plan.

Good, we'll try it on you first and see how it goes.
Happy with that.

 

[Bandwagon]

Your understanding is incorrect. They spent $2B when they purchased the Abbot Point Coal Terminal.

https://uk.reuters.com/article/us-abbotpoint-adani-idUKTRE7421I720110503

Also, I note that my original point about being dicked around and used a political football by both levels of Government went through to the keeper.

That's what investors will be looking at rather than Adani's questionable project development strategy.

Our convoluted, confusing, duplicative and unclear approach to government approvals for major projects undoubtedly presents a sovereign risk.

Abbott point whilst definitely related, is a completely separate enterprise altogether, and lumping the purchase price in with the investment into the Carmichael mine is a bit of a stretch mate.

It'd be fair enough to include any investment there in order to increase capacity to service the mine, because there's a direct link, but the purchase of Abbott Point in and of it's self is the purchase of an ongoing business, even if it was purchased from the state.,

 

[Gary Gutful]

Abbott point whilst definitely related, is a completely separate enterprise altogether, and lumping the purchase price in with the investment into the Carmichael mine is a bit of a stretch mate.

It'd be fair enough to include any investment there in order to increase capacity to service the mine, because there's a direct link, but the purchase of Abbott Point in and of it's self is the purchase of an ongoing business, even if it was purchased from the state.,

A bit of a stretch? Why? It was provided as evidence to counter the statement hat they always have their hands out.

We can get into an argument about the semantics of whether the terminal is directly or indirectly related to the Carmichael investment and I could babble on endlessly about their business model of vertical integration but who cares?

Its actually irrelevant. The only point I was really trying to make was that they have actually invested heavily in this country and dont always have their hands out. I'm hardly an Adani fan but I felt that was slightly unfair statement.

 

[Gronk]

A bit of a stretch? Why? It was provided as evidence to counter the statement hat they always have their hands out.

We can get into an argument about the semantics of whether the terminal is directly or indirectly related to the Carmichael investment and I could babble on endlessly about their business model of vertical integration but who cares?

Its actually irrelevant. The only point I was really trying to make was that they have actually invested heavily in this country and dont always have their hands out. I'm hardly an Adani fan but I felt that was slightly unfair statement.

This merkin from a "think tank" thinks that Adani have had a rails run.

 

[Gary Gutful]

"Think tank".

I understand the point he is trying to make.

However, you only have to look at the amount of metallurgical coal projects that have been approved during the time that Adani have been waiting for their approvals and/or battling legal challenges to know that he is talking out of his coight.

Compare Adani's run to that of the Olive Downs project:

https://www.abc.net.au/news/2019-05...oval-queensland-environmental-groups/11114706

 

[Twizzle]

Adani have a pretty atrocious environmental record in RSA and Sth America so I can understand the govt depts making it very hard for them and applying many conditions to their approval.

Personally I dont want them in my country as I have concerns about the mess they leave when they are finished as as they did in Brazil, they wound the company up and had no cash to honour the environmental conditions that went something like "leave the place in the same conditions as it was when you got here". Brazil is still hurting from the scars they left on its landscape and will take at least one generation or two generations to repair.

Then again I can also understand that people in central Qld want work but I think from what I have read we are all being lead up the garden path about how many jobs they will create.

 

[Gary Gutful]

Adani have a pretty atrocious environmental record in RSA and Sth America so I can understand the govt depts making it very hard for them and applying many conditions to their approval.

Personally I dont want them in my country as I have concerns about the mess they leave when they are finished as as they did in Brazil, they wound the company up and had no cash to honour the environmental conditions that went something like "leave the place in the same conditions as it was when you got here". Brazil is still hurting from the scars they left on its landscape and will take at least one generation or two generations to repair.

Then again I can also understand that people in central Qld want work but I think from what I have read we are all being lead up the garden path about how many jobs they will create.

What projects did Adani mess up in South Africa and Brazil?

 

[Bandwagon]

A bit of a stretch? Why? It was provided as evidence to counter the statement hat they always have their hands out.

We can get into an argument about the semantics of whether the terminal is directly or indirectly related to the Carmichael investment and I could babble on endlessly about their business model of vertical integration but who cares?

Its actually irrelevant. The only point I was really trying to make was that they have actually invested heavily in this country and dont always have their hands out. I'm hardly an Adani fan but I felt that was slightly unfair statement.

The statement I made was that they'd had their hand out since the beginning, which doesn't preclude them having made investments here at all. Clearly they have. But just as clearly they've had their hands out, from the billion dollar request for finance from the Northern Australia infrastructure fund to build the dedicated rail link, to the deferral of royalties payments.

There's still some genuine doubt that the project ( scaled down as it is ) is even viable, hence Barry's comment that he'd give 'em two years before they have their hands out. From the outside looking in it's only the vertical integration that makes the whole deal even remotely viable, and to be honest I reckon that the ability to secure future supply is the only thing that makes the project worthwhile for them.

I'd bet London to a brick they do not pay a single cent in company tax throughout the entire life of the project. Because it will never turn a profit.

 

[Gary Gutful]

The statement I made was that they'd had their hand out since the beginning, which doesn't preclude them having made investments here at all. Clearly they have. But just as clearly they've had their hands out, from the billion dollar request for finance from the Northern Australia infrastructure fund to build the dedicated rail link, to the deferral of royalties payments.

There's still some genuine doubt that the project ( scaled down as it is ) is even viable, hence Barry's comment that he'd give 'em two years before they have their hands out. From the outside looking in it's only the vertical integration that makes the whole deal even remotely viable, and to be honest I reckon that the ability to secure future supply is the only thing that makes the project worthwhile for them.

I'd bet London to a brick they do not pay a single cent in company tax throughout the entire life of the project. Because it will never turn a profit.

Agree with all of that.

They won't turn a profit in Aus but it will help them lock in future supply. That said, its a big investment for what might only be a small window of demand for thermal coal.

 

[hindy111]

Good, we'll try it on you first and see how it goes.
Happy with that.

I still provde value and contribute.

 

[Gronk]

Great Eulogy Kim.

 

[crocodile]

I still provde value and contribute.

Value and contribution are different things to different people.

 

[hindy111]

Value and contribution are different things to different people.

Look it was a joke..... Relax.

 

[crocodile]

Look it was a joke..... Relax.

Piss take 101

 

[Gronk]

 

[Twizzle]

lol

 

[Gary Gutful]

F**k off Stormy Daniels.

 

[Chipmunk]

Stormy Daniels sounds like a cocktail. Like a Dark and Stormy, but instead of Rum, it has Jack Daniels.

 

[Gary Gutful]

...and semen.