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This article was written in August 2011 after a career of many years concerned with Business Development in New South Wales Australia. I've not replaced it because, while the detailed economic parameters have changed, the underlying economic arguments remain the same (and it was a lot of work that I don't wish to repeat) for example:  

  • between Oct 2010 and April 2013 the Australian dollar exceeded the value of the US dollar and that was seriously impacting local manufacturing, particularly exporters;
  • as a result, in November 2011, the RBA (Reserve Bank of Australia) reduced the cash rate (%) from 4.75 to 4.5 and a month later to 4.25; yet
  • the dollar stayed stubbornly high until 2015, mainly due to a favourable balance of trade in commodities and to Australia's attraction to foreign investors following the Global Financial Crisis, that Australia had largely avoided.

 

 

2011 introduction:

Manufacturing viability is back in the news.

The loss of manufacturing jobs in the steel industry has been a rallying point for unions and employers' groups. The trigger was the announcement of the closure of the No 6 blast furnace at the BlueScope plant at Port Kembla.  This furnace is well into its present campaign and would have eventually required a very costly reline to keep operating.  The company says the loss of export sales does not justify its continued operation. The  remaining No 5 blast furnace underwent a major reline in 2009.  The immediate impact of the closure will be a halving of iron production; and correspondingly of downstream steel manufacture. BlueScope will also close the aging strip-rolling facility at Western Port in Victoria, originally designed to meet the automotive demand in Victoria and South Australia.

800 jobs will go at Port Kembla, 200 at Western Port and another 400 from local contractors.  The other Australian steelmaker OneSteel has also recently announced a workforce reduction of 400 jobs.

This announcement has reignited the 20th Century free trade versus protectionist economic and political debate. Labor backbenchers and the Greens want a Parliamentary enquiry. The Prime Minister (Julia Gillard) reportedly initially agreed, then, perhaps smelling trouble, demurred. No doubt 'Sir Humphrey' lurks not far back in the shadows. 

 

 

So what has and hasn't changed (disregarding a world pandemic presently raging)?

 


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Travel

Southern England

 

 

 

In mid July 2016 Wendy and I took flight again to Europe.  Those who follow these travel diaries will note that part of out trip last year was cut when Wendy's mum took ill.  In particular we missed out on a planned trip to Romania and eastern Germany.  This time our British sojourn would be interrupted for a few days by a side-trip to Copenhagen and Roskilde in Denmark.

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Fiction, Recollections & News

Egyptian Mummies

 

 

 

 

Next to Dinosaurs mummies are the museum objects most fascinating to children of all ages. 

At the British Museum in London crowds squeeze between show cases to see them.  At the Egyptian Museum in Cairo they are, or were when we visited in October 2010 just prior to the Arab Spring, by far the most popular exhibits (follow this link to see my travel notes). Almost every large natural history museum in the world has one or two mummies; or at the very least a sarcophagus in which one was once entombed.

In the 19th century there was something of a 'mummy rush' in Egypt.  Wealthy young European men on their Grand Tour, ostensibly discovering the roots of Western Civilisation, became fascinated by all things 'Oriental'.  They would pay an Egyptian fortune for a mummy or sarcophagus.  The mummy trade quickly became a lucrative commercial opportunity for enterprising Egyptian grave-robbers.  

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Opinions and Philosophy

Renewable Electricity

 

 

As the energy is essentially free, renewable electricity costs, like those of nuclear electricity, are almost entirely dependent on the up-front construction costs and the method of financing these.  Minimising the initial investment, relative to the expected energy yield, is critical to commercial viability.  But revenue is also dependent on when, and where, the energy can be delivered to meet the demand patterns of energy consumers.

For example, if it requires four times the capital investment in equipment to extract one megawatt hour (1 MWh) of useable electricity from sunlight, as compared to extracting it from wind, engineers need to find ways of quartering the cost of solar capture and conversion equipment; or increasing the energy converted to electricity fourfold; to make solar directly competitive.

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