May 11 – Investor uncertainty in 1990 and 1993

So, who is going to build what where and when if policies might change radically soon and leave you with a stranded elephant/white asset?  It’s a hardy perennial in the business pages, and academics seem relatively blind to questions of finance…. Anyway, in 1990, at peak ‘green hype’ some were already trying to use it as a brake on “sustainable development”.

Sustainable development is catching up with Australia fast. The economy is going through an investment boom which could provide the export revenue in the 1990s that would make our current account and foreign debt positions “sustainable”….

The accompanying table lists 26 major investment projects under consideration which Access Economics says appear to be in danger of environmental veto, including the Cape York spaceport (worth $350 million), the Very Fast Train project ($4.5 billion) and 24 resource and manufacturing projects valued at $11 billion.

Stutchbury, M. 1990. Environmental threat to investment boom.   Australian Financial Review , 11 May.

And as part of his epic bashing-‘Direct Action- timeline, Labor shadow environment minister Mark Butler notes that  on

“11 May 2013: Investors warn of uncertainty from direct action in the AFR.”

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