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Due diligence?
10-02-2017, 09:04 AM
Post: #1
Due diligence?
I have been sceptical of the economic value to Australia of the Adani coal mine in Queensland for a long time.

It is touted as the biggest open cut coal mine yet and seems to require huge expenditure in infrastructure - up graded port and dedicated rail link.

When objections to the mine have been raised federal politicians have justified the project on humanitarian grounds - poor people in India are without electricity and Queensland coal will be their salvation.

On the radio this morning I heard an interview that cast a shadow over the economic value of this coal, given that much of the world is planning to move away from building new coal fired power plants but what pricked up my ears was the suggestion that the Adani organisation may be financially unstable. In spite of an assurance that Adani will pay for the rail line, it is quite possible that the cost will fall to us and the rail line will become a stranded asset. Just where is this mine and what else could be economically transported to the port?

On top of that, the economics in India seem to suggest that the coal will not be a source of cheap electricity that will benefit the poor.

Tonight's four corners will be looking at this issue. I plan to pay attention to the details because I have been uneasy about this particular project for some time. I suspect one person will benefit from it and his profit will be tucked away in a safe financial haven, the Australian people will get little or negative reward and the poor people of India will remain off the grid when it comes to affordable power. They will continue to cook on kerosene burners.
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10-02-2017, 10:02 AM
Post: #2
RE: Due diligence?
Funny How Japan can have coal powered generators using Australian coal & we can't!

http://www.abc.net.au/news/rural/2017-01...ts/8224302
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10-02-2017, 12:20 PM
Post: #3
RE: Due diligence?
Most of our power plants are coal powered but that is not the issue.
The issue is whether a new mega mine will be profitable or end up an abandoned liability.
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10-02-2017, 02:28 PM
Post: #4
RE: Due diligence?
Quote:Adani organisation may be financially unstable.

He's been unofficially outed as a big business con artist so that suspicion is probably a massive understatement!

Call me racist by all means but there isn't an Indian business mogul breathing that I'd trust with a dollar.

Nothing to fight about here folks. I'm dead against that one too.
Plenty still in the Hunter Valley to sell to India, probably higher qualifty coal too.

Still dead set against CSG mining too.

How can Greenies tell us in one sentence that methane is a 'green-house gas ' then in the next push methane (coal seam gas) as a "lower emission energy source" .. huh ? "sorry what??" Huh
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10-02-2017, 07:34 PM
Post: #5
RE: Due diligence?
(10-02-2017 02:28 PM)Di Wundrin Wrote:  
Quote:Adani organisation may be financially unstable.

He's been unofficially outed as a big business con artist so that suspicion is probably a massive understatement!

Call me racist by all means but there isn't an Indian business mogul breathing that I'd trust with a dollar.

Nothing to fight about here folks. I'm dead against that one too.
Plenty still in the Hunter Valley to sell to India, probably higher qualifty coal too.

Still dead set against CSG mining too.

How can Greenies tell us in one sentence that methane is a 'green-house gas ' then in the next push methane (coal seam gas) as a "lower emission energy source" .. huh ? "sorry what??" Huh

Which Greenie said that?

Tailoring the world economy around the climate cult's demands is akin to demolishing your house to avoid the risk of it catching fire one day.
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10-02-2017, 08:37 PM
Post: #6
RE: Due diligence?
YOU CAN FLICK FRACKING!
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10-02-2017, 08:45 PM
Post: #7
RE: Due diligence?
gas has half the CO2 of coal.
Not perfect, but it's worked for the United States in cutting emissions.
its only a transition fuel to full renewables.
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10-02-2017, 10:07 PM
Post: #8
RE: Due diligence?
It's not just what comes out of CSG Max, it's what goes in to force it out the pipes.

The toxic chemicals involved in retrieving it are going into the water tables.

I think I've told you about the multi million dollar property near Singleton that has been rendered worthless because fracking cracked the bedrock and the creek that watered the land has vanished underground. That's just one glaring example of the damage it does to the geological structure underground. One CSG drill did more damage than all the coal mining that went on around that property.

Cuz spent his life in the mining industry and he's also dead against CSG fracking. That's enough for me.
Americas geology is different to ours and their bore water supplies aren't as vital as ours.

I wouldn't be holding them up as the benchmark of anything but proof that making money trumps environmental concerns, and they can afford the scientists to tell you anything.
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10-02-2017, 10:11 PM
Post: #9
RE: Due diligence?
(10-02-2017 10:07 PM)Di Wundrin Wrote:  It's not just what comes out of CSG Max, it's what goes in to force it out the pipes.

The toxic chemicals involved in retrieving it are going into the water tables.

I think I've told you about the multi million dollar property near Singleton that has been rendered worthless because fracking cracked the bedrock and the creek that watered the land has vanished underground. That's just one glaring example of the damage it does to the geological structure underground. One CSG drill did more damage than all the coal mining that went on around that property.

Cuz spent his life in the mining industry and he's also dead against CSG fracking. That's enough for me.
Americas geology is different to ours and their bore water supplies aren't as vital as ours.

I wouldn't be holding them up as the benchmark of anything but proof that making money trumps environmental concerns, and they can afford the scientists to tell you anything.

Evidence?

Tailoring the world economy around the climate cult's demands is akin to demolishing your house to avoid the risk of it catching fire one day.
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10-02-2017, 10:19 PM
Post: #10
RE: Due diligence?
I thought you had it all. Huh
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