The October 2012 issue of Brisbane Marketing’s Brisbane Economic Series covers energy and resources and is worth a read. I agree with the positive outlook for the Queensland economy expressed by Deloitte Access Economics:
…despite a slowing of Queensland’s recent record breaking project investment, there will be continuing investment in the state. Queensland has a proud history of its economic growth outpacing that of Australia as a whole, and Deloitte projects that broad trend to continue over time. Or, as we often put it, Queensland is on the right side of history, perfectly positioned to sell its resources, tourism, agribusiness and other products into the growth of emerging Asia, which is the dominant driver of today’s business landscape.
I was also impressed by the following statement from the Chairman of the Queensland Exploration Council, Dr Geoff Dickie:
…Queensland is more than 1.7 million sq km, and only a fraction of that has been explored to any meaningful extent.
And by ‘meaningful’, I mean that all its possibilities are known in the context of the era when exploration occurs.
For example, a mineral of marginal or non-economic value 100, 50 or even five years ago could become the most sought-after component in the world for the next wave of technology.