Sam Berridge (@strikeextent) header
Sam Berridge (@strikeextent) profile picture

Commodities | Fund Manager | Mining & Energy Investment | Geologist | Navigating the future of natural resources

Perth, Western Australia
Joined January 2012
Photo by Sam Berridge (@strikeextent)Photo by Sam Berridge (@strikeextent)Photo by Sam Berridge (@strikeextent)Photo by Sam Berridge (@strikeextent)Photo by Sam Berridge (@strikeextent)Photo by Sam Berridge (@strikeextent)Photo by Sam Berridge (@strikeextent)Photo by Sam Berridge (@strikeextent)
This is a terrific and terrifying read from @insteconomics Australia truly is the anti-Abundance nation It's self-inflicted damage We keep shooting ourselves in the foot and then wondering why we can't sprint anymore
Planning regulations add $42,000 in compliance costs to an attic renovation -- for no discernible benefit (other than as a make-work scheme for consultants). stephenkirchner.substack.com…
26
66
4
476
26,706
Sam Berridge retweeted
Ironic… Surely the ATO can just absorb the costs like a small business is 🤷‍♀️🫠🫠
78
139
38
1,604
97,383
We should be asking the question that if we have "rising unemployment, falling house prices and sluggish economic growth" then why is inflation above the RBA's target band and there's upside risks? It is certainty not all driven by global oil prices.
The Reserve Bank has lifted interest rates to a 15-year high despite rising unemployment, falling house prices and sluggish economic growth. smh.com.au/politics/federal/…
40
20
4
278
31,061
The censorship industrial complex is going on the offensive. New legislation being field tested in Australia would give the government the power to run AI bot networks/sock puppets, apparently to secretly influence & manipulate online debates. Creepy af. H/t @NAffects @MikeNayna
The censorship industrial complex suffered major setbacks in recent years. But now the censors are back with a vengeance: successful lawfare that could cost Meta tens of billions for not censoring enough; two major Hollywood movies; and the worst censorship legislation yet.
251
2,060
216
5,793
692,588
Sam Berridge retweeted
This is the most damning and outrageous draft-final change in the latest ISP. In the draft, just Stage 1, ie one 500KV line, modelled to New England. Ongoing analysis and stakeholder engagement needed "to ascertain whether the second stage will optimise benefits to consumers..." Crystal clear that AEMO knows full well that there are no projects likely to close in the REZ, and this will be a white-elephant, with terrible costs imposed on consumers with no chance of proportional benefit. So what happened with the analysis and stakeholder engagement? Well, one stakeholder trumped all others. The NSW government wrote and declared that they're doing both lines, in a single project, and asked for it to be treated as 'anticipated' which makes it a sunk-cost in the ISP, so AEMO would not do any further analysis on whether it makes economic sense for consumers. The sheer bloody-mindedness of this move is just breathtaking. There can be no pretense now that the ISP does anything at all to coordinate investment or protect consumers. A supremely arrogant government can just over-rule the community, and consumer interests, and the ISP just nods along, puts it all in the path called 'optimal'. 1/
9
66
7
228
12,069
BREAKING Trump Administration warns it will treat as censorship 'facilitating censorship' Prime Minister Anthony Albanese's proposed crackdown on algorithms. Source: au.usembassy.gov/u-s-governm… – at Weehawken, NJ
251
1,001
143
5,015
245,308
Sam Berridge retweeted
Many other countries could also do stuff like this if they genuinely gave a crap about their citizens. People have gotten used to everything being slow and inefficient just because "that's how it is". Despite all the leaps in technology over the decades.
🇦🇪 A UAE citizen discovered his passport had EXPIRED just before traveling from Dubai Airport... He went to the airport’s passport renewal section and got a brand-new one in just 8 MINUTES. Remarkable efficiency. Writer: Mhedi
88
262
4
4,719
273,702
Sam Berridge retweeted
Update... The NSW Government paid papers to promulgate a lie about job creation at a wind farm. Their paid advertorial said: "since becoming fully operational, the project has created 240 direct jobs" But when answering questions on notice, they checked their source... "up to 240 people during the construction period". This must be a deliberate act of deception. To contemplate the alternative - gross incompetence - is frankly even more frightening. Anyone working remotely in-and-around energy would do a quick head-check and realise that any more than a tiny handful of ongoing "direct" employees at a wind farm is a mistake. Of course it was a upper-bound for a construction peak. Almost entirely contractors. What is going on in EnergyCo (NSW Government) for them to make that kind of mistake? What other mistakes are they making? Or did they think they'd get away with deceiving the public?
Wow... @WesFangMLC has just whipped out this clanger in Estimates. The NSW government paid for this advertorial in the Newcastle Herald, claiming that 240 "direct jobs" had been created from a 134MW wind farm. "since becoming operational" Not a chance. This figure might be peak construction numbers, but the idea that a wind farm of this size has any more than a handful of ongoing full-time roles is absurd. It would be bankrupt within weeks supporting that kind of workforce. Crystal-clear case of government-funded propaganda based on a complete lie.
8
43
6
203
4,952
genuinely cannot believe the government gave 8 million dollars to Fairfax Media lmfao
15
27
15
208
61,422
Sam Berridge retweeted
Some notes on the big story of they day... Tomago aluminium smelter, and the $2.5 billion subsidy to keep it open for ten years. The media has swallowed the $2.5 billion number as though it's real. It's not. A quick 🧵. 1/ afr.com/politics/federal/lab…
15
34
12
162
21,317
Sam Berridge retweeted
Why on earth are our tax officials copying policy from the UK? Have they not seen the state of the UK's economy? These people need to resign. afr.com/policy/tax-and-super…
38
43
5
463
16,795
Sam Berridge retweeted
Australia was handed one of the greatest starting positions of any country in history Massive mineral wealth. Abundant energy. World-class beaches. Amazing climate. No fault lines... no earthquakes or tsunamis If you gave a 12-year-old this setup in a civilisation-building game, they'd build a paradise Instead, we got decades of useless politicians on both sides of the aisle who couldn't run a sausage sizzle at Bunnings without a $4 billion feasibility study and a royal commission Australia isn't unlucky. It's grossly mismanaged
775
2,271
197
15,362
969,437
Sam Berridge retweeted
A challenge for eveyone: Find me a credible economist supporting the following proposition: for exactly the same total gain, the amount of tax you pay goes up the higher the percentage of your portfolio that underperforms inflation: the way the new insane capital gains tax works!
4
13
3
77
13,547
Sam Berridge retweeted
In April, Albo warned Australians about misinformation flooding their phones. He didn't mention his govt was already paying wage subsidies to 2 of the networks he named as trustworthy. Or part-paying the wages of over 2,000 journalists nationwide. Here are the receipts 🧵
169
881
74
2,645
188,513
Sam Berridge retweeted
Yesterday I read @CSIRO's latest GenCost. This is a turning point. For the first time, the report contains clear concessions that pushing to net-zero has a cost. Renewables are more expensive than coal. And yet, some of the headlines still say otherwise. Quick 🧵. 1.
16
76
14
287
16,824
Sam Berridge retweeted
The crime they see: 15,415 litres of water to produce one kilogram of beef. Every campaign, every documentary, every leaflet through the door since about 2012. The crime they do: not reading the paper. The figure is real. It comes from Mekonnen and Hoekstra at the University of Twente, and it is careful, peer-reviewed work. What the campaigns strip out is that the same authors split that number into three parts, because the three parts are not the same thing at all. Green water is rain. It falls on the grass. The cow eats the grass. For beef, green water is about 94 per cent of that headline. Blue water is the stuff that matters. Rivers, lakes, aquifers. The stuff that gets pumped, metered, fought over in court, and does not come back. So here is the blue water, in litres per kilogram, from the same authors, same method, same units. - Pistachios: 7,602 - Almonds: 3,816 - Walnuts: 2,451 - Dates: 1,250 - Cashews: 921 - Beef: 550 Read that last line again, then go and look at what is in your granola. The 15,415 counts rain that fell on a Welsh hillside as a cost, against an animal that was standing in it, on land where nothing else grows, in a country where rain is the one thing we have never once been short of. The pistachio is drinking fourteen times more of the water that actually runs out. She is outside in the rain right now, getting blamed for it.
182
2,955
168
8,973
165,936
Sam Berridge retweeted
Not a tax problem? How can federal minister of a Gov’t not understand that cash paid for illegal cigarettes ends up in shipping containers that more cigs are arriving in, then leaves the country for ever, with no tax at all ever paid. Billions and Billions and Billions every year. What was 12 percent 8 yrs ago is now over 80%. All done in full view in tobacconists, which have multiplied like rabbits and are now on every shopping street and centre in the country. “It’s not a tax problem”. What do they do all day?
Did Clare O'Neil seriously just start this interview by suggesting we all celebrate the government's"amazing success"? When asked about the fact police have run out of room to store illegal cigarettes she says "This is not a tax problem, it is an enforcement problem".
145
149
4
1,284
32,554
Sam Berridge retweeted
58
94
11
673
23,641
Pretty much 😂
9
28
4
413
44,609
Sam Berridge retweeted
George Orwell, reviewing The Road to Serfdom in 1944: “Professor Hayek’s thesis is that Socialism inevitably leads to despotism, and that in Germany the Nazis were able to succeed because the Socialists had already done most of their work for them, especially the intellectual work of weakening the desire for liberty. By bringing the whole of life under the control of the State, Socialism necessarily gives power to an inner ring of bureaucrats, who in almost every case will be men who want power for its own sake and will stick at nothing in order to retain it. Britain, he says, is now going the same road as Germany, with the left-wing intelligentsia in the van and the Tory Party a good second. The only salvation lies in returning to an unplanned economy, free competition, and emphasis on liberty rather than on security.”
90
1,325
93
4,446
301,101