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Foreign ownership of our resources and businesses.
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<blockquote data-quote="user 4386" data-source="post: 660606" data-attributes="member: 4386"><p>"my position would be to push the Aust share to just under the point where these companies will pull out" The problem is that they would pull out when they can make more elsewhere, NOT simply when they cannot make a profit here anymore. We compete with countries like South Africa and Brazil - companies will pull out if they can simply make more there, not when they cannot make money here, so it only requires a small increase in costs here to make them pull out.. And our export income is 60% from minerals and energy (85% under covid), three times our agricultural income. What else do we get money from? Tourists and foreign students (woops, wasn't that before covid)?</p><p></p><p>"the resources that are owned by the people" Yep, I own the resource of a nice four wheel drive - but if no one provides me with petrol it does not do me much good sitting in my driveway. They are certainly our minerals, but they are not worth a cent to us sitting in the ground, and we certainly have never had the money to mine and process them ourselves (not even a small fraction of them) - which is why we have required investment by foreign companies.</p><p></p><p>Life wasn't meant to be easy.....</p></blockquote><p></p>
[QUOTE="user 4386, post: 660606, member: 4386"] "my position would be to push the Aust share to just under the point where these companies will pull out" The problem is that they would pull out when they can make more elsewhere, NOT simply when they cannot make a profit here anymore. We compete with countries like South Africa and Brazil - companies will pull out if they can simply make more there, not when they cannot make money here, so it only requires a small increase in costs here to make them pull out.. And our export income is 60% from minerals and energy (85% under covid), three times our agricultural income. What else do we get money from? Tourists and foreign students (woops, wasn't that before covid)? "the resources that are owned by the people" Yep, I own the resource of a nice four wheel drive - but if no one provides me with petrol it does not do me much good sitting in my driveway. They are certainly our minerals, but they are not worth a cent to us sitting in the ground, and we certainly have never had the money to mine and process them ourselves (not even a small fraction of them) - which is why we have required investment by foreign companies. Life wasn't meant to be easy..... [/QUOTE]
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Foreign ownership of our resources and businesses.
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