With thermal coal fast becoming 'no longer worth it' here is oz, are we about to see the end of the mining boom for coal.

It has been suggested that unless a certain percentage of the coal reserve is 'coking grade' the mine is no longer viable and will therefore be mothballed.

In fact, a huge area west of Bowen, is all thermal coal and projects here, including one from the much hated Gena has been canned, siting unviable project due to huge production costs here is oz.

So, how will this effect the federal budget, given that the worlds smartest man used projected figures to formulate his budget, in the assumption that the mining tax, IR changes and carbon tax would not effect the boom.

There are about to be a lot of disillusioned workers out there, many of whom have forgotten how the other half live.

Will this be yet another failure from this government that has achieved what must be a gold medal for failures.

There's the growth theory disappearing in a cloud of dust !

Over supply will cause less demand, so where is the problem you have.

The problem 579 is that our production costs are now so high, that China is now building a rail link into Momgolia as their thermal coal's production cost is a fraction of ours.

But, that's the side issue, how do you propose your beloved labor party is going to achieve it's forecasted outcomes for the budget.

Remember, it's a surplus at any cost, those were the words from the worlds smartest man.

Leave the nuts and bolts to the people we elected to do the job.
You should be more worried about the antics of CN, he will drag QLD back another 30 years. The state is stuck in the 70's. You only have to drive on the roads to come to that conclusion.

Leave it to those we elected ? You got to be kidding.
They don't know which way is up !

World peak coal is expected about 2025. Some say earlier.
Solar and wind can't do it and even the dewey eyed are starting to realise that.
Once it starts to be realised by those that really matter the mines
will be reopened or not closed in the first place.
Do you really think people are going to accept freezing in the dark ?
The politicians know about peak coal, but just like with oil they have
a wink wink nudge nudge, say no more policy on it.

The US has passed peak coal fairly recently and are now experiencing
high costs because of the poor energy per ton. It is great for
Chicago & North Western railway as they are a major coal carrier.
Even more trains needed.

What we need to do 10 years ago was to stop export of coal & gas.
We will definitely need it if geothermal fails.

You only have to drive on the roads to come to that conclusion.

You are so right there mate, just goes to show what 20 odd years of labor rule can do, or not do.

Or, did CN cause this in less than six months.

In labor's defense, the floods played havoc and with the likes of the western downs, this is amplified by the enormous increase in traffic numbers, especially semies and B doubles.

The worlds best treasurer is in charge of the budget.
Not one road patrol did i see fixing pot holes.
Bridges without barriers.
No roadside safety fences what so ever. These should be the top priorities.
But as normal the coalition are hell bent on putting people out of work.

Would this worlds best treasurer be anything like the last one.

He was the "LAW law" tax cuts treasurer. Come to think of it that one was probably the worlds best liar, that is, before Julia came along, & swept all before her in that competition.

If there had been an Olympic gold for lying, our Labor Treasurers & PMs would win every time.

Wayne Swan named world's best Treasurer by Euromoney magazine

Treasurer Wayne Swan in his Parliament House office in Canberra yesterday. Picture: Ray Strange Source: The Australian

WAYNE Swan last night joined Paul Keating as the only Australians to be named by banking magazine Euromoney as the world's finance minister of the year. The Treasurer received the accolade for his judgment in steering the Australian economy through the global financial crisis and guiding a strong recovery.

Mr Keating received the award at the end of his first year as treasurer in 1984.

"Mr Swan receives his award for his careful stewardship of Australia's finances and economic performance both during and since the global financial crisis," the magazine's citation says.

"Throughout that time, Australia has not only avoided falling into recession, but has been the best performing of the world's developed market economies."

Mr Swan will receive the award on Friday in Washington, while there for meetings of the International Monetary Fund and the G20.

"Our first priority has always been jobs with decent pay and conditions," Mr Swan said last night. "There's an extra 750,000 Australians bringing home a pay packet since we were elected and that's what Labor governments are all about."
The most influential people in Sport

Euromoney acknowledged that Mr Swan had inherited a strong economy from his predecessor, Peter Costello, and also that Australia had been helped by the strength of the Chinese economy.

"But, beginning with his swift response to stimulate the economy in 2007-08 despite strong opposition at home, Swan has succeeded in getting most of the important decisions right," the magazine said.

These included the measures to stimulate the economy after the global financial crisis struck and putting in place an "exit strategy" and for returning the budget to surplus with "a fiscal discipline that many other finance ministers refuse to adopt"