Torres, what happens if you cannot pass on your costs to your customers.
For the global companies??? Rudd says "Bluff" I remember 1974 and the oil exploration industry. Whitlam withdrew the dollar for dollar investment in exploration....Buses went out over night, crews were returned to base and sacked. Skeleton crews brought the gear back to Roma. Torres, surely you are old enough to remember the acres of gear stored in the paddocks along Mitchell Rd outside Roma? It took years for the industry to recover. It put back oil production by at least a decade.
Rudd thinks of his workers (BS...its a cash grab!) but thinks nothing of screwing with investors. The Mum and Dad investors and their super funds that will take a hit if they are exposed to Australian commodities markets.
Winding back the minerals boom...FIFO is the first to be affected. The market is factoring and the bill hasn't even made it to the Senate.