What the press is saying about petrol, LPG, diesel, crude oil, biofuel etc.
(Click on the "News Article" link for the full story, opens in new window)
Gross Domestic Product shows first negative result in 8 years
04-03-2009 The Australian. Against expectations, the Australian economy declined in the final three months of 2008 by 0.5%. However, this does not indicate we are in a (technical) recession.
A technical recession is defined as two consecutive quarters of contraction.
The economy runs on expectation, fear or confidence.
If people have confidence in keeping their homes and their jobs, they will go out and spend. If not, they save.
If business has confidence in the future, it will invest in people, equipment and stock. If not, it will reduce staff and inventory.
If an investor believes the market will move up, he buys. If he worries it may go down, he sells.
Markets and economies move, based on psychology; proven right, or wrong, by history.
When our treasurer warned us “the inflation genie is out of the bottle”, homeowners assumed interest rates would rise even further and locked in their mortgage rates.
When the treasurer informed us, Australia was heading for a recession and rising unemployment; people started to cut back their spending and saved for the inevitable.
When the prime minister announced a $10 Billion dollar stimulus package, people regarded this as confirmation and saved their “bonus” by paying of debt.
Household savings rate rose to 8.5 per cent from 3.4 per cent, suggesting 80 per cent of the Rudd Government’s $8.7 billion handout in December had been saved
Running around in alarm, handing out large sums of money left right and centre, in the hope that some of it will stick and produce a desired effect, will only contribute to a recession.
It’s a self-fulfilling prophecy.
The recession we had to have.
ExxonMobil Vows to Maintain Refinery but Carbon Tax Remains a Concern
Norsk Hydro plans to shut down its aluminium smelter at Kurri Kurri in the NSW Hunter Valley.
Qantas announces job cuts as profits slide
Small Business Tax Reduction Scrapped
RBA cuts official interest rate to 3.75%
Mineral Resources Rent Tax (MRRT) Bill 2011 passes the Senate
Private Health Insurance Rebate
Future of Caltex Refineries
150 Qantas catering jobs to go in Adelaide
Rates on Hold
Back to School in 2012
Roads and Traffic Authority Name Change
Politicians pay rise
RBA interest rate cut
Shell to cease refining at Clyde
Shell to close Clyde Refinery
Shell annual profits double to $18.6bn
Back to School 2011
Xstrata Suspends A$ 586 million of Expenditure.
Aussie Dollar Climbs From 10-Month Low Amid Intervention Talk
Fortescue Metals puts $17.5bn projects on hold to review super tax
Rio Tinto to review new Australia investment over tax
Xstrata suspends $30 million exploration in light of the Government’s super profits tax
Rates rise - Again
Backflip on "the Greatest Moral Challenge of our time"
Shell profits fall sharply on weak oil demand
Caltex Australia agrees to purchase Mobil service stations
Perth Motorists Ripped-Off
Jobs at risk after Bushmaster exclusion
Volunteer Sacked For Swearing
RBA rate drop to 3.25%
Victoria: No power, No Trains, No Water
Shell profit 2009
Back to School
“Green Holden” update
$149 Million to build green Holden
Tax Cut for Small Business - Smoke and Mirrors
Surplus Virtually Gone
Government Stimulus Payments