Tuesday 18 November 2014

Australian Prime Minister Tony Abbott - bombed at the G20 and bombed in latest Newspoll


The Australian 18 November 2014:



In two-party-preferred terms, based on preference flows from last year’s election, Labor leads by 55 per cent to 45 per cent. The ALP’s third consecutive rise in two-party terms means the opposition has been in front of the ­Coalition on this measure for 14 successive Newspolls.

It would appear that it wasn’t just international and national media who felt that hosting the November 2014 G20 international summit did little for the political standing of either Tony Abbott or the Australian Coalition Government - as opinion polling conducted over the summit period (from Friday 14 when world leaders began to arrive through to the Sunday 16 and the final communique) clearly demonstrates.

Dissatisfaction with Tony Abbott’s performance rose by three points to 55 per cent and the number of poll recipients who saw him as the better prime minister fell by two points to 37 per cent.

Metgasco Limited intends to stay put on the NSW North Coast despite widespread community opposition to gasfields being established in the region


ABC NEWS 13 November 2014:

Metgasco is unlikely to take up any offer from the State Government to buy back its licence to operate in the Northern Rivers.
Today's CSG policy announcement included provisions for a one-off buy back scheme of previously approved licences.
But Metgasco managing director, Peter Henderson, said the company has spent too much time and money in the region to walk away now.

Metgasco media release 14 November 2014:

Response to NSW Government Gas Plan

Metgasco Limited welcomes the NSW Government’s recognition that gas supplies are essential to the future of NSW and that the gas industry can be managed safely.

Metgasco is, however, concerned about the repeated changes in regulation and policy since the current Government came to office and the uncertainty the latest announcement has created.

In March 2011 the NSW Government effectively put a hold on the industry while it created new regulations, which included a Strategic Land Use Policy and a myriad of other regulations.  In September 2012 it announced that the industry had the toughest standards in the world and gave the green light for exploration and development to proceed.  It correspondingly renewed exploration licences and announced the approval of Metgasco’s first production licence (just south of Casino). 

Since then it has taken a number of actions which have had the effect of stifling  the industry.

The new policy announcement does not sufficiently clarify the business and regulatory environment for the gas industry in NSW.  Business needs a degree of certainty to justify expenditure.   We now have new rules and regulatory responsibilities, many of which will not be defined until well into 2015, uncertainty about the rules for land holder compensation and some indication that the royalty regime might change to encourage exploration. 

Metgasco has invested approximately $120 million over the past ten years exploring for natural gas in NSW and has established the second largest gas resource in the state.  It did so with the expectation that its exploration rights would be respected.
Metgasco is seeking a meeting with the Minister for Resources and Energy to clarify the impact of the new policy on the potential of the significant gas resource in the Northern Rivers region. 

It is important that the NSW Government sends a message to all investors that NSW is a place in which investment can be made with confidence.

Metgasco Limited's ordinary share price is languishing at five cents.


Rupert Murdoch not squatting as securely on top of the News Corp dung heap?


The number of News Corp shareholders who do not unconditionally ‘love’ Rupert Murdoch appears to be growing if the 14 November 2014 statement to the United States Securities And Exchange Commission is any indication.

An estimated 31.30% of all eligible voters (or around 7 million more voters than last year) didn’t want Rupert Murdoch on the board of the company he inherited from his father, while 31.17% and 33.05% respectively didn’t want his sons Lachlan and James as directors either.


An estimated 46.05% of all eligible voters supported the dismantling of the dual class capital structure which reportedly gives Murdoch interests 39% of the company votes although his family owns about 15% of the equity.

* Broker Non Votes are: shares are held in a brokerage account, your broker is obligated to vote your shares as instructed by you. If you don’t give voting instructions to your broker, your broker’s ability to vote your shares depends on whether the item is “routine” or “non-routine.” The New York Stock Exchange decides whether an item is “routine” or “non-routine.”
Under the New York Stock Exchange rules, brokers may vote on “routine” items in their discretion on behalf of any customers who do not furnish voting instructions within 10 days of the annual meeting. With respect to “non-routine” items that come before the annual meeting for a vote, brokers would not be able to vote at all without first receiving voting instructions from their customers.
A broker “non-vote” occurs when the broker does not vote on a proposal because it is a non-routine item and the broker’s customer has not provided voting instructions. These broker “non-votes” would not be considered in the calculation of the majority of the votes cast and therefore would have no effect on the vote with respect to a non-routine item. [New York Stock Exchange]

** Dual Class Stock is: the issuing of various types of shares by a single company. A dual class stock structure can consist of stocks such as Class A and Class B shares, and where the different classes have distinct voting rights and dividend payments. Two share classes are typically issued: one share class is offered to the general public, and the other is offered to company founders, executives and family. The class offered to the general public has limited voting rights, while the class available to founders and executives has more voting power and often provides a majority control of the company.[Investopedia]

Monday 17 November 2014

Arakwal National Park and Cape Byron State Conservation Area selected for the International Union for the Conservation of Nature's new 'green List' of protected areas


Sunrise at the most easterly point of Australia. Arakwal National Park and the Byron Bay Lighthouse see the first light of the day in Australia. Photo and caption byCheryl Styles





ABC North Coast NSW 14 November 2014:

Arakwal National Park was established in 2001, as part of a historical land use agreement between the Arakwal Indigenous community and the New South Wales state government.
Its management committee chairwoman Yvonne Stewart says the joint management arrangement has paid off.
"The biggest achievement is being able to have a say in the management," she said.
"We're just very pleased, we're very excited to be one of the first parks to be green listed in the world," she said.
Arakwal National Park employs about 12 Aboriginal people in ranger, maintenance and administration roles.
"A lot of our young people are working on the park and learning about their country, connecting back to country," Ms Stewart said.
"A lot of those are long-standing from the inception of the national park."
Ms Stewart says regeneration of flora and fauna and the removal of the introduced bitou bush species are some of the park's biggest environmental achievements.

NSW North Coast Nationals issue a misleading media release on the future of the gas industry in the region


Australia’s oil and gas industry welcomes the NSW Government’s recognition that the state is facing an avoidable energy security problem and that policy must change to encourage supply. [Australian Petroleum Production & Exploration Association, media release,13 November 2014]

NSW National Party MPs Thomas George, Don Page, Chris Gulaptis and Geoff Provest issued this media release on 13 November 2014, misleadingly titled NEW POLICY PROVIDES FRAMEWORK FOR A GASFIELD FREE NORTHERN RIVERS.



Unfortunately the Baird Coalition Government’s policy does not guarantee any such framework; almost all of the Northern Rivers is still vulnerable and parts of the region could still become designated gasfields and existing exploration and/or production licences could still be progressed by mining companies currently operating on the state's north coast.

This NSW Dept. of Energy and Resources map gives the lie to the George, Gulaptis, Provest and Page claim that we are on a Coalition road to a Gasfield Free Northern Rivers:


Petroleum (coal seam gas) exploration licences remain from the NSW-Qld border down into the Clarence Valley.


Application Identifier, Application Number, and Application Date:

PELA 130 16 December 2009 (1 block about 51 km SW of Lismore held by Metgasco Limited)
PELA 135 31 March 2011
PELA 137 12 March 2012
PELA 144 28 November 2012
PELA 146 22 February 2013
PELA 147 22 February 2013
PELA 148 27 February 2013
PELA 150 11 November 2013
PELA 151 11 November 2013
PELA 152 11 November 2013
PSPAPP 48 15 December 2009 (1 block about 41 km SW of Lismore held by Clarence Moreton Resources Pty Limited)
PSPAPP 54 21 November 2011
PSPAPP 56 22 February 2012
PSPAPP 57 22 February 2012
PSPAPP 62 21 June 2013
PSPAPP 63 6 December 2013

The Northern Star 14 November 2014:

Gasfield Free Northern Rivers co-ordinator Elly Bird said the announcement provided no protection for the Northern Rivers and did not acknowledge the community opposition to the industry.
"It's also very misleading of the NSW Government to say they have accepted all 16 recommendations of the Chief Scientist, when they've done no such thing," Ms Bird said.
Bentley farmer Meg Nielson said the community would stand up and protect their land until the licences were cancelled.

"Our community wholeheartedly rejects the industrialisation of our landscapes, and landholders across the Northern Rivers remain united in their complete rejection of unconventional gas extraction. We are bitterly disappointed that the government is still not listening to us," she said.

I suggest that Northern Rivers residents take the time to read the actual Liberal-Nationals policy document here and, ask questions of Resources Minister Anthony Roberts before casting their vote in the March 2015 state election.

Sunday 16 November 2014

Dear Tony, Regards Francis


LETTER OF HIS HOLINESS POPE FRANCIS
TO THE PRIME MINISTER OF AUSTRALIA ON THE OCCASION OF THE G20 SUMMIT
[BRISBANE, 15-16 NOVEMBER 2014]



To the Honourable Tony Abbott
Prime Minister of Australia

On 15 and 16 November next in Brisbane you will chair the Summit of Heads of State and Government of the world’s twenty largest economies, thus bringing to a close Australia’s presidency of the Group over the past year.  This presidency has proved to be an excellent opportunity for everyone to appreciate Oceania’s significant contributions to the management of world affairs and its efforts to promote the constructive integration of all countries.

The G20 agenda in Brisbane is highly focused on efforts to relaunch a sustained and sustainable growth of the world economy, thereby banishing the spectre of global recession.  One crucial point that has emerged from the preparatory work is the fundamental imperative of creating dignified and stable employment for all.  This will call for improvement in the quality of public spending and investment, the promotion of private investment, a fair and adequate system of taxation, concerted efforts to combat tax evasion and a regulation of the financial sector which ensures honesty, security and transparency.

I would ask the G20 Heads of State and Government not to forget that many lives are at stake behind these political and technical discussions, and it would indeed be regrettable if such discussions were to remain purely on the level of declarations of principle.  Throughout the world, the G20 countries included, there are far too many women and men suffering from severe malnutrition, a rise in the number of the unemployed, an extremely high percentage of young people without work and an increase in social exclusion which can lead to criminal activity and even the recruitment of terrorists.  In addition, there are constant assaults on the natural environment, the result of unbridled consumerism, and this will have serious consequences for the world economy.

It is my hope that a substantial and productive consensus can be achieved regarding the agenda items.  I likewise hope that the assessment of the results of this consensus will not be restricted to global indices but will take into account as well real improvements in the living conditions of poorer families and the reduction of all forms of unacceptable inequality.  I express these hopes in light of the post-2015 Development Agenda to be approved by the current session of the United Nations Assembly, which ought to include the vital issues of decent work for all and climate change.

The G20 Summits, which began with the financial crisis of 2008, have taken place against the terrible backdrop of military conflicts, and this has resulted in disagreements between the Group’s members.  It is a reason for gratitude that those disagreements have not prevented genuine dialogue within the G20, with regard both to the specific agenda items and to global security and peace.  But more is required.  The whole world expects from the G20 an ever broader agreement which can lead, through the United Nations legal system, to a definitive halt to the unjust aggression directed at different religious and ethnic groups, including minorities, in the Middle East.  It should also lead to eliminating the root causes of terrorism, which has reached proportions hitherto unimaginable; these include poverty, underdevelopment and exclusion.  It has become more and more evident that the solution to this grave problem cannot be a purely military one, but must also focus on those who in one way or another encourage terrorist groups through political support, the illegal oil trade or the provision of arms and technology.  There is also a need for education and a heightened awareness that religion may not be exploited as a means of justifying violence.

These conflicts leave deep scars and result in unbearable humanitarian situations around the world.  I take this opportunity to ask the G20 Member States to be examples of generosity and solidarity in meeting the many needs of the victims of these conflicts, and especially of refugees.

The situation in the Middle East has revived debate about the responsibility of the international community to protect individuals and peoples from extreme attacks on human rights and a total disregard for humanitarian law.  The international community, and in particular the G20 Member States, should also give thought to the need to protect citizens of all countries from forms of aggression that are less evident but equally real and serious.  I am referring specifically to abuses in the financial system such as those transactions that led to the 2008 crisis, and more generally, to speculation lacking political or juridical constraints and the mentality that maximization of profits is the final criterion of all economic activity.  A mindset in which individuals are ultimately discarded will never achieve peace or justice.  Responsibility for the poor and the marginalized must therefore be an essential element of any political decision, whether on the national or the international level.

With this Letter I express my appreciation for your work, Prime Minister, and I offer my prayerful encouragement for the deliberations and outcome of the Summit.  I invoke divine blessings on all taking part and on all the citizens of the G20 countries.  In a particular way, I offer you my prayerful best wishes for the successful conclusion of Australia’s presidency and I willingly assure you of my highest consideration. 

From the Vatican, 6 November 2014

FRANCIS