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Australia Needs $92 Billion in Energy Investment

bloomberg.com -- Australia needs to invest at least A$100 billion ($92 billion) in electricity infrastructure in the next decade to meet growing demand by consumers, the Minister for Resources and Energy, Martin Ferguson, said.

“We need more investment in electricity supply infrastructure,” Ferguson told business leaders in Brisbane, according to a statement released today. “For too many years, uncertainty about carbon pricing, state government privatization plans, retail price regulation, network regulation, and more recently, the global financial crisis, have hampered investment.”

The nation, the world’s largest shipper of iron ore, alumina, lead, zinc and coal, needs increased power generation to encourage new resource projects and avoid household blackouts during periods of high demand. Short

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Submitted Mar 21, 2010 By: teafortwo

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benjy Champion Author Chicago Posts:4,837 Points:895,825 Joined:Nov 2003	Message Posted: Mar 21, 2010 10:13:31 AM Ignore benjy Report Abuse you need money to make money...
rvn4me Champion Author Texas Posts:1,872 Points:556,285 Joined:Jan 2009	Message Posted: Mar 21, 2010 10:13:19 AM Ignore rvn4me Report Abuse The US needs to do the same with all of the wind projects coming on line.
impala2008 All-Star Author Ontario Posts:594 Points:214,030 Joined:Sep 2009	Message Posted: Mar 21, 2010 10:13:13 AM Ignore impala2008 Report Abuse Nothing to do with our gas prices.
Dennisjk Champion Author Detroit Posts:2,614 Points:1,038,565 Joined:Apr 2006	Message Posted: Mar 21, 2010 10:11:13 AM Ignore Dennisjk Report Abuse Most countries need to do that but don't have the money to invest right now.
vizilo Champion Author British Columbia Posts:1,951 Points:1,838,545 Joined:May 2004	Message Posted: Mar 21, 2010 10:08:52 AM Ignore vizilo Report Abuse Time to conserve
pulpwood Champion Author Mississippi Posts:4,055 Points:1,194,940 Joined:Sep 2006	Message Posted: Mar 21, 2010 10:08:44 AM Ignore pulpwood Report Abuse You have to grow or die!
9C1 Champion Author Chicago Posts:17,705 Points:3,281,620 Joined:Jul 2001	Message Posted: Mar 21, 2010 10:07:06 AM Ignore 9C1 Report Abuse Well, here we go again.
trojanbuck Champion Author Dayton Posts:3,890 Points:797,665 Joined:Aug 2007	Message Posted: Mar 21, 2010 10:04:29 AM Ignore trojanbuck Report Abuse Ask Obama, he's got a limitless supply of cash for every purpose.
Don20 Champion Author Oklahoma City Posts:4,755 Points:1,649,775 Joined:Mar 2005	Message Posted: Mar 21, 2010 10:02:01 AM Ignore Don20 Report Abuse Australia needs to invest at least A$100 billion ($92 billion) in electricity infrastructure in the next decade to meet growing demand by consumers, the Minister for Resources and Energy, Martin Ferguson, said. Well join the group. Every one needs money..
Helms Champion Author Fort Worth Posts:4,257 Points:1,228,685 Joined:Jun 2005	Message Posted: Mar 21, 2010 10:00:31 AM Ignore Helms Report Abuse who doesn't? (Need 92B in energy investment)
matman01 Champion Author Detroit Posts:9,196 Points:1,016,345 Joined:May 2007	Message Posted: Mar 21, 2010 10:00:30 AM Ignore matman01 Report Abuse Maybe Obama will give them a bailout?
ironbox_sara Champion Author Albany Posts:4,721 Points:1,297,925 Joined:Mar 2006	Message Posted: Mar 21, 2010 9:59:49 AM Ignore ironbox_sara Report Abuse So what are they whining about?
CharlieC08 Champion Author Colorado Posts:3,832 Points:652,220 Joined:Oct 2008	Message Posted: Mar 21, 2010 9:59:34 AM Ignore CharlieC08 Report Abuse Same ole song.
Sneakers55 Champion Author Houston Posts:32,155 Points:1,299,245 Joined:Nov 2005	Message Posted: Mar 21, 2010 9:59:29 AM Ignore Sneakers55 Report Abuse oilrobber wrote: >Australia, here is what you do. Make everyone buy health care. Australia is a civilized nation. They already have universal health care and have for many years. >And tax the hell out of everyone. I'd be in a higher tax bracket in Australia but their system has universal health care. Also, unlike the US, the Australian tax system doesn't tax dividends twice. There's also Australian superannuation ("super") on top of that. Super is akin to a US 401(k) but with mandatory contributions. Australia has the advantage that their system results in considerably lower barriers to going from one job to another. (I had a former co-worker who worked on the Australian AWACS-type plane and he commented the natives would quit at the drop of a hat between universal health care and super.)
EXTREMESNOW Champion Author Medford Posts:4,532 Points:953,735 Joined:Jul 2006	Message Posted: Mar 21, 2010 9:58:00 AM Ignore EXTREMESNOW Report Abuse Wind and solar is probably their best bet.
Baron62nd Champion Author Illinois Posts:2,552 Points:761,450 Joined:Sep 2007	Message Posted: Mar 21, 2010 9:57:50 AM Ignore Baron62nd Report Abuse I'll bet they can do this without our current administration borrowing money from China to pay it.
PrepHermit Champion Author New Jersey Posts:3,285 Points:678,430 Joined:Aug 2008	Message Posted: Mar 21, 2010 9:56:13 AM Ignore PrepHermit Report Abuse That's a lot of dollars down under.
doncNJ Champion Author New Jersey Posts:2,780 Points:565,920 Joined:Oct 2008	Message Posted: Mar 21, 2010 9:56:10 AM Ignore doncNJ Report Abuse That is a lot of mulah.
Zinnoil Champion Author Florida Posts:18,901 Points:2,139,725 Joined:May 2004	Message Posted: Mar 21, 2010 9:55:33 AM Ignore Zinnoil Report Abuse The rest of the world is investing in energy whilst we chat about wind, solar and other economically unproven ideas.
hauler43 Champion Author Oakland Posts:4,834 Points:1,858,355 Joined:Sep 2003	Message Posted: Mar 21, 2010 9:55:23 AM Ignore hauler43 Report Abuse Solar and wind
mfeldstein Champion Author Ottawa Posts:3,747 Points:1,054,390 Joined:Feb 2007	Message Posted: Mar 21, 2010 9:54:55 AM Ignore mfeldstein Report Abuse Go to alternative sources.
Zygnatz Champion Author British Columbia Posts:8,195 Points:1,610,205 Joined:Oct 2005	Message Posted: Mar 21, 2010 9:52:16 AM Ignore Zygnatz Report Abuse There should be a great opportunity for solar/wind power down there.
woodeye55 Champion Author Gary Posts:2,282 Points:903,465 Joined:Mar 2006	Message Posted: Mar 21, 2010 9:50:32 AM Ignore woodeye55 Report Abuse Sounds like Martin woke up just yesterday!
kriketgirl Sophomore Author Michigan Posts:104 Points:338,875 Joined:May 2009	Message Posted: Mar 21, 2010 9:50:18 AM Ignore kriketgirl Report Abuse Don't we all... Everything is getting older and demand is always rising.
batloverNM Champion Author Albuquerque Posts:1,147 Points:755,595 Joined:Oct 2007	Message Posted: Mar 21, 2010 9:49:29 AM Ignore batloverNM Report Abuse Solar and wind!
w4kh Champion Author Riverside Posts:6,881 Points:1,279,445 Joined:May 2004	Message Posted: Mar 21, 2010 9:49:28 AM Ignore w4kh Report Abuse As a net exporter of so many raw materials in demand around the globe, Australia is in a unique position, and the investment in electrical energy infrastructure, while huge (A$100 Billion), will likely pay for itself as rapidly as the investment is made...
DrCashFlow Champion Author Massachusetts Posts:2,460 Points:697,345 Joined:Jun 2008	Message Posted: Mar 21, 2010 9:47:29 AM Ignore DrCashFlow Report Abuse resource rich. if they can hammer out internal priorities, they can afford it.
Tundralimited2009 Champion Author Dallas Posts:2,587 Points:520,450 Joined:Feb 2009	Message Posted: Mar 21, 2010 9:47:22 AM Ignore Tundralimited2009 Report Abuse China get the majority of these shipments.....
Hangnail309 Champion Author Manitoba Posts:1,444 Points:761,590 Joined:Aug 2006	Message Posted: Mar 21, 2010 9:46:05 AM Ignore Hangnail309 Report Abuse They should have thought of this years ago.
turbodog Champion Author Mississippi Posts:1,828 Points:392,125 Joined:Feb 2009	Message Posted: Mar 21, 2010 9:45:47 AM Ignore turbodog Report Abuse Solar and wind.
Gas_Buzzer Champion Author South Carolina Posts:9,493 Points:1,705,010 Joined:Sep 2005	Message Posted: Mar 21, 2010 9:45:29 AM Ignore Gas_Buzzer Report Abuse Maybe Congress and Obammie can give it to them...why not?
kruk Champion Author London Posts:2,843 Points:332,715 Joined:Jan 2007	Message Posted: Mar 21, 2010 9:45:25 AM Ignore kruk Report Abuse seems for projects like that they look at taxpayers - not only apply for Australia, North America is notorious for that
braves89 Champion Author Chicago Posts:2,770 Points:660,345 Joined:Apr 2008	Message Posted: Mar 21, 2010 9:43:37 AM Ignore braves89 Report Abuse sounds like they are still in better shape than us
jmg144 Champion Author Maryland Posts:6,746 Points:2,009,600 Joined:Jul 2004	Message Posted: Mar 21, 2010 9:42:09 AM Ignore jmg144 Report Abuse China will make even more investments
fordfan1 Champion Author Indiana Posts:4,199 Points:917,140 Joined:Jul 2007	Message Posted: Mar 21, 2010 9:41:20 AM Ignore fordfan1 Report Abuse It looks like a tax hike to me. At least that is what our Government would do right now!
packards42 Champion Author Washington Posts:1,682 Points:306,280 Joined:Feb 2005	Message Posted: Mar 21, 2010 9:39:56 AM Ignore packards42 Report Abuse Big $$$ for a small ecomony, but keeping there mining industry in power is a must for it the drive.
Cuzilla Champion Author Indianapolis Posts:8,824 Points:1,553,140 Joined:Sep 2005	Message Posted: Mar 21, 2010 9:39:33 AM Ignore Cuzilla Report Abuse The solution is to put a big tax on electric usage to get the needed money. When you find out that the high taxes have eliminated the extra demand, scrap the infrastructure expansion and use the money to buy votes by giving the money to "needy" people that can vote - for you. You can apply these schemes to other areas of the economy. Of course, over time you will destroy the country but, as John Maynard Keynes said: "In the long run, we are all dead!"
DieselKat Champion Author Tennessee Posts:1,724 Points:1,415,510 Joined:Oct 2005	Message Posted: Mar 21, 2010 9:39:25 AM Ignore DieselKat Report Abuse They should have thought of this years ago.
mazdaboy Champion Author Portland Posts:3,032 Points:1,138,200 Joined:Aug 2003	Message Posted: Mar 21, 2010 9:38:47 AM Ignore mazdaboy Report Abuse This could happen to us if we don't invest now.
smokefan64 Champion Author Alabama Posts:1,624 Points:251,745 Joined:Nov 2007	Message Posted: Mar 21, 2010 9:38:24 AM Ignore smokefan64 Report Abuse Go Check Them out!
BillHeatherL Champion Author Alberta Posts:2,787 Points:985,060 Joined:Apr 2007	Message Posted: Mar 21, 2010 9:37:55 AM Ignore BillHeatherL Report Abuse we all need this with the push for electric cars
Zuman Champion Author New York Posts:1,514 Points:966,015 Joined:May 2005	Message Posted: Mar 21, 2010 9:36:09 AM Ignore Zuman Report Abuse Who will invest in our energy needs??????????????
CptnCanada Champion Author Saskatoon Posts:2,769 Points:415,025 Joined:Jun 2008	Message Posted: Mar 21, 2010 9:35:35 AM Ignore CptnCanada Report Abuse For too long govt ignores problems till they become crisis.
throttle Champion Author Maryland Posts:7,877 Points:1,655,405 Joined:Jul 2004	Message Posted: Mar 21, 2010 9:34:46 AM Ignore throttle Report Abuse The U.S. also needs a huge investment in energy infrastructure.
Sneakers55 Champion Author Houston Posts:32,155 Points:1,299,245 Joined:Nov 2005	Message Posted: Mar 21, 2010 9:33:11 AM Ignore Sneakers55 Report Abuse mvosevich wrote: >"retail price regulation", now there's a novel concept. Missouri has retail price regulation. Texas doesn't. My cousin who works for KCP&L was commenting during our 4th of July weekend that the company has rate increases stacked up in Jefferson City.
Wolfwings Champion Author Delaware Posts:3,937 Points:820,505 Joined:May 2004	Message Posted: Mar 21, 2010 9:31:59 AM Ignore Wolfwings Report Abuse Good luck to Austrailians, but I don't see where this affects the price in North America
Hunter114 Champion Author Chicago Posts:3,009 Points:493,345 Joined:Apr 2009	Message Posted: Mar 21, 2010 9:29:17 AM Ignore Hunter114 Report Abuse As long as they do it with minimal government involvement, they should be fine.
spunky4443 Champion Author Washington Posts:4,019 Points:1,052,195 Joined:May 2005	Message Posted: Mar 21, 2010 9:27:11 AM Ignore spunky4443 Report Abuse That's their problem, we have our own.
threewheeler Champion Author Seattle Posts:2,315 Points:287,510 Joined:Jun 2008	Message Posted: Mar 21, 2010 9:26:13 AM Ignore threewheeler Report Abuse Sounds like they will get it done.
oilrobber Champion Author Miami Posts:4,694 Points:959,735 Joined:May 2007	Message Posted: Mar 21, 2010 9:24:58 AM Ignore oilrobber Report Abuse Australia, here is what you do. Make everyone buy health care. Make up your own cap and trade. Have you EPA fine you for Co-2. And tax the hell out of everyone. That way no one will have money for energy and you won't need it. Problem solved! We can sell you a President if you need more help!
copperhead8 Champion Author Boston Posts:10,777 Points:1,848,525 Joined:Dec 2004	Message Posted: Mar 21, 2010 9:24:04 AM Ignore copperhead8 Report Abuse Good luck to Australia.