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The Forum > Article Comments > For Woodside its time to go with the float > Comments

For Woodside its time to go with the float : Comments

By Wade Freeman, published 12/4/2013

Woodside's Kimberley project has not only lost its social license but it is also caught in the centre of a radically changing oil and gas sector.

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Instead of spreading the money around I suggest the main beneficiaries will be Woodside shareholders and the overseas shipbuilding firm. There will be precious few jobs for locals, no indigenous compensation (unless a 'sea rights' action is launched) and no gas for local onshore industries. Good one. Any LNG glut is likely to be short lived with formerly energy independent UK and Japan taking all they can get.

If the floating platform goes ahead I suggest the knives could be out for those who opposed onshore development. Billions of dollars in revenue and salaries from high paid jobs will NOT be spent in the Broome area but somewhere else.
Posted by Taswegian, Friday, 12 April 2013 8:42:34 AM
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Woodside should lose the lease! Ditto any other resource based business that simply sits on a lease or uses it as a virtual land bank, to raise revenue, for all manner of non Australian offshore projects!
Returning the lease and the project to the people may be the best thing that could happen to Australia?
And allow us to cut our ties or dependency on fully imported extremely expensive foreign fuel, when we ought to be using this resource, as cheap energy to set our economy up, and fund the alternatives we and the world will need, in the not too distant future!
The Shell refinery is on the market and judging on recent sales, will likely sell for around 750 millions.
Not a huge price, and something the Govt ought to purchase as an off budget investment. Mainly for the distribution business that would come with it, and a means to market former Woodside gas and oil reserves, to the domestic market!
Think, the sale of Telstra raised enough revenue, at the time, to completely buy out Woodside!
Rhrosty.
Posted by Rhrosty, Saturday, 13 April 2013 12:19:30 PM
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