Follow the leader - but where to?:
MARTIN Luther King had a dream. Winston Churchill had blood, sweat and tears. Ronald Reagan declared it was morning again in America. Marie Curie pioneered the study of radioactivity. Vincent van Gogh cut off his ear.
What do all these immortals have in common? They have been privileged enough to share space with two other great leaders, Woodside executives Peter Coleman and Vince Santostefano, on giant banners dominating the foyer of the gas producer's Perth headquarters.
Each enormous placard features an inspirational quote, designed no doubt to provoke Woodside's employees to ever higher peaks of achievement. For example, Curie's poster quotes her as saying: ''The way of progress is neither swift nor easy.'' That's something those working on Woodside's gargantuan Browse project or its pantagruelian Sunrise field would already know.
MARTIN Luther King had a dream. Winston Churchill had blood, sweat and tears. Ronald Reagan declared it was morning again in America. Marie Curie pioneered the study of radioactivity. Vincent van Gogh cut off his ear.What do all these immortals have in common? They have been privileged enough to share space with two other great leaders, Woodside executives Peter Coleman and Vince Santostefano, on giant banners dominating the foyer of the gas producer's Perth headquarters.
Each enormous placard features an inspirational quote, designed no doubt to provoke Woodside's employees to ever higher peaks of achievement. For example, Curie's poster quotes her as saying: ''The way of progress is neither swift nor easy.'' That's something those working on Woodside's gargantuan Browse project or its pantagruelian Sunrise field would already know.
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| Even the Financial Review had something to say about Woodside Executive Peter Coleman's cringeworthy megalomania. |
Photo Damian Kelly
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IT'S NOT EASY AT THE TOP.
ReplyDeleteFollow the leader?Wishfull thinking.
BHP boss Kloppers resigns
BHP Billiton boss Marius Kloppers has become the second chief executive at the big miners to fall within a month, announcing this morning he had resigned.
Mr Kloppers' exit follows Rio Tinto's axing of chief executive Tom Albanese in January.
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WOODSIDE PROFIT REPORTS TODAY.
Most likely another trumpeting fanfare for their one train "miracle" Pluto.
Over at 7 Voelte is playing follow the leader,and of course,it's not easy.
Seven West falls to $109m loss
SEVEN West Media has posted a loss of $109.3 million for the first half of the financial year because of restructure costs and the lower value of its magazines.
Seven West, the owner of the Seven Network and West Australian newspaper group, took charges of more than $255 million in the six months to December 31 relating to redundancies and writedowns on its magazines and investment in Yahoo!7.
The loss compares to a $163 million net profit in the previous corresponding period.
"Good progress is being made on driving greater efficiencies across our business to manage our costs," chief executive Don Voelte said in a statement on Wednesday.
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AHHH THE CARBON TAX.WANNA MAKE SOME SERIOUS MONEY FOR NOTHING?
GET REAL DIRTY,DIRTIER THE BETTER.
Australia's highly emitting brown coal power generators will reap $2.3 billion to $5.4 billion in windfall profits from carbon price compensation, an analysis by a leading energy market expert has found.
While brown coal power plants based in Victoria's Latrobe Valley will get billions in compensation, the analysis suggests they have so far been able to pass on all of their extra costs of the carbon price - thus turning the compensation into pre-tax profit
Environment Victoria, which commissioned the analysis, demanded the federal government review the compensation for coal power plants.
Its campaigns director, Mark Wakeham, said: ''It is a terrible result for taxpayers and the environment if our dirtiest power stations like Hazelwood are becoming more profitable as a result of compensation payments.''
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EVER WONDERED HOW MUCH CARBON EXXON HAS TUCKED AWAY?
Exxon Mobil /quotes/zigman/203975/quotes/nls/xom XOM +1.09% shares rose 1.1%. The oil giant said Tuesday it added 1.8 billion of barrels of oil equivalent to its proven reserves.
At the end of 2012, Exxon’s proven reserves totaled 25.2 billion of oil-equivalent barrels, replacing 115% of its production, the company said. Reserves are currently 51% liquids and 49% natural gas, Exxon said. See: Exxon Mobil replaced 115% of production in 2012.
Exxon shares have gained 3.5% in the past 12 months.
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WHERE TO INDEED?
ReplyDeleteIT'S NOT EASY WALKING AWAY FROM $20 BILLION,BUT BEING PIG HEADED AND RUDE IS WHAT WE DO,EVEN WHEN IT'S WRONG.
THE DEADLINE FOR THE SUNRISE AGREEMENT EXPIRES THIS SATURDAY,FEB.23 2013.
http://communities.deakin.edu.au/deakin-speaking/node/436
Woodside gas deal could redraw Australia-East Timor borders
Australia's relationship with East Timor is at risk as the deadline looms on a hotly disputed and lucrative liquid natural gas project -- with no resolution in sight.
West Australian-based Woodside Petroleum has until February 23 to reach an agreement with the government of East Timor over the site of processing LNG or else the arrangement between the two is likely to be stopped. This would then trigger the cancellation of Australia’s sea boundary agreements with East Timor.
At this late stage it's unlikely Woodside will change its long-held position and accede to East Timor's demand that the LNG be processed on East Timor’s south coast. Woodside's preferred option is a floating processing platform at the Greater Sunrise LNG field in the Timor Sea.
The East Timorese government can cancel Woodside's involvement in the project, valued at $20 billion, if no agreement is reached on processing by February 23. But more critically, the termination of Woodside’s contract would end Australia-East Timor agreements on the Timor Sea boundary between the two countries.
The bilateral treaty (the Timor Sea Treaty), the Certain Maritime Arrangements in the Timor Sea (CMATS) and a third document -- imposed by Australia on East Timor in 2002 and in 2006 -- allocate revenues from the Joint Petroleum Development Area (JPDA) in the Timor Sea. Within the shared, now largely exhausted JPDA, East Timor receives 90% of revenues, Australia receives 10%.
However, 80% of the more important Greater Sunrise field lies outside the JPDA, where the benefits are divided evenly under the Sunrise International Unitisation Agreement (IUA).
East Timor points out the imposition of the boundary contravenes the UN Convention on the Law of the Sea, which Australia withdrew from recognising just before negotiations with East Timor. Under this convention, all of the Greater Sunrise field should be within East Timor’s exclusive economic zone.
http://communities.deakin.edu.au/deakin-speaking/node/436
ReplyDeleteIT'S NOT EASY WALKING AWAY.....CONTINUED...
East Timor reluctantly signed the Timor Sea Treaty, CMATS and the IUA in 2002-3 with a metaphorical gun to its head. Australia’s position, led by then foreign minister Alexander Downer, was that if East Timor did not sign the treaty Australia would simply allow the pre-existing boundary agreement with Indonesia to remain in place, East Timor would be starved of revenue from the fields and the new state would collapse just after it had gained independence.
There are still 10 days remaining for an agreement between Woodside and East Timor, but the indications are that neither side will budge sufficiently to allow the project to proceed. This will then allow the East Timorese government to cancel the agreement with Woodside and trigger the right of the East Timorese government to terminate the CMATS treaty, throwing open the issue of boundaries between the two countries.
Assuming the agreement is cancelled, East Timor is hoping for two outcomes: it can quarantine the issue of the sea boundary within the bilateral relationship, and it can renegotiate the boundary, following international convention, at the median point between Australia and East Timor.
Despite criticism of Australia in 2010, East Timor’s Prime Minister Xanana Gusmao wants a continuation of the currently close relations between the two countries. This includes Australia’s $116.7 million aid program, diplomatic support and future security arrangements. But Australia showed in 2002 that it can be brutal in its dealings with its smaller neighbours so, assuming the treaty is cancelled, the decision on whether the sea boundary issue is quarantined from the wider bilateral relationship will sit firmly with Australia.
When in 2004 Australia negotiated its sea boundary with New Zealand, it opted for the UN Convention’s median point. East Timor is hoping that, if the Timor Sea Treaty is renegotiated -- presumably after the next federal election -- Australia will revert to the UN Convention. Doing so, however, would mark an ethical consistency in Australia’s regional relations that has to date been absent.
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AND TIMOR LESTE HAS MANY PROBLEMS,ARE VERY POOR,AND AUSTRALIA TREATS THEM JUST LIKE THEY TREAT THEIR OWN INDIGENOUS PEOPLE - A BLOODY DISGRACE.