The Mining Boom Is Over: And Whose Fault Is That?

Yesterday, Martin Fergeson, Minister for Resources and Energy, declared that "the resources boom is over"

Now... I wonder why that might be. It couldn't have anything to do with the high taxes and over-regulation that is killing jobs, could it?

Let's see. Today's  Age reports that: "BHP Billiton head Marius Kloppers has told European investors that Australia's carbon and mining taxes have helped to render the nation's coal industry unworthy of further investment at this time."  Todays Australian reports that: "The peak business body has demanded the government immediately amend its main environmental law and the Fair Work Act to boost Australia's competitiveness before further resources projects fall victim to a high-cost, low-productivity business climate."

So yes Mr. Ferguson , it looks like the mining boom is over. Because of the policies that you brought in.




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