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)
Xstrata Suspends A$ 586 million of Expenditure.
03/06/2010. Xstrata, which last month halted some copper exploration in Queensland, said it was now also immediately suspending
A$586 million of expenditure to develop both the A$6 billion Wandoan thermal coal project and a A$600 million project, to extend the life of the Ernest Henry copper mine.
The company says the two projects would have created 3,250 new jobs which have now been put at risk.
The difference between this announcement and the Fortescue suspended iron ore projects is that Xstrata projects are projects where spending had already been approved.
Aussie Dollar Climbs From 10-Month Low Amid Intervention Talk
21/05/2010. The Australian dollar jumped 2 cents from morning low of $US0.8075 to close at $US0.8273.
There was talk in the market that the Reserve Bank had intervened to support the Aussie for the first time since the global financial crisis.
When asked, the RBA said it does not comment on market moves.
Since the announcement of the Super Profits Tax the dollar had slumped from 0.93075 to 0.81746 or 12.17%.
Fortescue Metals puts $17.5bn projects on hold to review super tax
19/05/2010. Iron ore miner Fortescue Metals Group has reacted to the Federal Government’s proposed Resource Super Profits Tax with a statement that up to 30,000 jobs could be at risk if the tax is introduced.
The company cited the uncertainty in the financial markets caused by the proposed tax.
• Solomon Hub - US$9 billion proposed investment with 6,000 people employed in operations and 15,000 through construction.
• Western Hub - Estimated US$6 billion proposed investment with 4,000 people employed in operations and 7,500 through construction.
• Chichester Hub expansion – US$4.5 billion invested to date with 2,700 people employed in operations and 7,500 during construction - proceeding
Rio Tinto to review new Australia investment over tax
12/05/2010. Mining giant Rio Tinto Wednesday said it was reviewing all new Australian capital projects in response to "shocking" plans for a 40 percent tax on resources "super profits".
Rio chief Tom Albanese condemned the tax as a danger to investment. Albanese added that Rio had been "shocked" at the tax plan, and criticised the government for rattling mining investors and sending the sector's stocks plunging.
"Unfortunately Australian policy makers will risk de-rating their mining industry if they're not careful," he said.
12-05-2010 Rio Tinto to review new Australia investment over tax
11-05-2010 Xstrata suspends $30 million exploration in light of the Government’s super profits tax
04-05-2010 Rates rise - Again
28-04-2010 Backflip on "the Greatest Moral Challenge of our time"
27-05-2009 Caltex Australia agrees to purchase Mobil service stations
31-03-2009 Perth Motorists Ripped-Off
18-03-2009 Jobs at risk after Bushmaster exclusion
10-03-2009 Volunteer Sacked For Swearing
04-03-2009 Gross Domestic Product shows first negative result in 8 years
13-02-2009 Victorian Bushfires
04-02-2009 RBA rate drop to 3.25%
31-01-2009 Victoria: No power, No Trains, No Water
30-01-2009 Shell profit 2009
22-01-2009 Back to School
08-01-2009 “Green Holden” update
24-12-2008 $149 Million to build green Holden
12-12-2008 Tax Cut for Small Business - Smoke and Mirrors
08-12-2008 Surplus Virtually Gone
07-12-2008 Government Stimulus Payments
05-12-2008 Elective Surgery Summer Break
05-12-2008 Fuel tax will inflate grocery bill
03-12-2008 NSW hospitals are full, try Queensland
12-11-2008 FuelWatch dead and buried
29-10-2008 BP Quarterly Results - Profit up by 83%
29-10-2008 Excrement found in Dessert
24-10-2008 OPEC agrees to cut output by 1.5 million bpd
15-10-2008 Crude oil below $80 per barrel
08-10-2008 RBA cuts rates by 1% to 6.0%
11-09-2008 Crude Oil below $100 - Petrol higher
08-09-2008 Big Parties Big Losers this weekend.
30-07-2008 BP profits jump thanks to oil prices
27-07-2008 Ambulance strike with a difference
09-07-2008 PM Rudd: G8 made progress on climate talks
08-07-2008 G-8 endorses halving global emissions by 2050
04-07-2008 Prof Garnaut calls for urgent climate action
26-06-2008 Changes to NSW Road Rules
11-06-2008 Labor's $70 million hybrid gift to Toyota
07-06-2008 Rates blamed for house price dive
03-06-2008 Member calls for investigation into benefits and risks associated with genetically modified orgasms.
03-06-2008 Plan to drill for oil off NSW coast
25-05-2008 Government to review GST on Excise
16-05-2008 Wages, House Prices and Petrol
14-05-2008 Petrol likely to go to $1.65
14-05-2008 Budget 2008: “It’s about my house stupid!”
13-05-2008 BUDGET SPEECH 2008‑09
11-05-2008 Budget - Medicare levy surcharge
15-04-2008 Fuel Watch Scheme to apply as from 15th December 2008
04-04-2008 LPG - Cheaper, better for environment BUT conversion subsidy likely to be dumped.
05-03-2008 RBA lifts rates to 7.25%
07-02-2008 Rate rise unlikely to slay inflation