PETROLEUM, POLITICS AND PRIVATE ENTERPRISE

Abstract

For too long in Australia politics and free enterprise have maintained in the main a stance of mutual exclusivity, thereby almost guaranteeing the violent ructions in our economy and society we have seen over the past three years as a result of a change in government. This would appear to be due primarily to a lack of concern and understanding on the part of both the private and government sectors in one another's problems, needs, and aspirations. This gives rise to needless hesitation and lack of confidence in planning investment and development policies. Perhaps nowhere is this better exemplified than in the petroleum and minerals sector where uncertainties as a result of ad hoc and sometimes incomprehensible governmental policy decisions have had extremely deleterious consequences on individual companies, the resources industry, and Australia.

There has been and there still is a communications gap between those in private enterprise who aspire to create and expand profits which in turn can be allocated to employee and shareholder benefits and new investment, and those in government who have the responsibility of ensuring that the nation develops economically in such a way as to benefit all Australians to the maximum extent possible. That gap must be closed and remain closed if we are to avoid the upheavals of the past.