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Monday, December 16, 2013

The Great Barrier Reef vs the Queensland State Budget

Royalty revenue 

Dugong swimming in Queensland
Queensland - beautiful one day, a cesspit the next

Queensland Budget Strategy and Outlook 2013-14, page 54 

Royalty revenue grew strongly between 2000-01 and 2007-08, with growth in revenue in excess of 50% in both 2004-05 and 2005-06. In contrast to the other key discretionary revenues, royalty revenues reached a peak in 2008-09, as record coal prices had been contracted prior to the onset of the global financial crisis. Royalty revenue then fell significantly in 2009-10, along with coal contract prices, and has not yet returned to the levels of 2008-09.

Royalty revenue is estimated to have declined in 2012-13, primarily due to the current weakness in coal prices and high A$-US$ exchange rate. However,
  • royalties are expected to recover from 2013-14 onwards, 
  • supported by steady growth in export volumes
  • a recovery in coal prices and 
  • the exchange rate depreciating. 
The average growth rates projected across the forward estimates are still substantially lower than experienced during the 2000s, which was driven by sharp increases in price to a greater extent than volume growth.

Ignore greenies on reef dredging: Qld govt

December 12, 2013 (

Deputy Premier Jeff Seeney says activists will say anything to shut down the coal industry.

He says the public shouldn't be fooled by their "alarmist" response to the Abbot Point dredging project.

The federal government this week gave the green light for the massive project to expand the coal terminal in north Queensland.

The approval allows about three million cubic metres of dredge spoil to be dumped in the Great Barrier Reef Marine Park.