China buys 50 Bn worth of Australian gas

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maveri's picture
maveri
Status: Silver Member (Offline)
Joined: Nov 20 2008
Posts: 159
China buys 50 Bn worth of Australian gas

http://business.smh.com.au/business/piping-hot-50b-gas-deal-with-china-2...

A lot of people in Australia are talking up this deal as a sign that the resoruce boom is not over *sigh*

Too bad they don't read the fine print where it wil come online in the next 5 years!

Still, it's something I guess.

China is once again signing up long term contracts for commodities that will only become more expensive in the long term - although some say that gas is not in short supply like oil is.

maveri's picture
maveri
Status: Silver Member (Offline)
Joined: Nov 20 2008
Posts: 159
Re: China buys 50 Bn worth of Australian gas

oh - and the green shoot rubbish is being thrown around in Australia too.

5% of GDP is what they are saying but the truth is it's 0.16% of GDP - they rolled up the long term income from the deal and tried stating that's how much it was worth in one year! Obama would be proud of the Australian governments reporting!

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