They say self funding is basically impossible, because Adani Enterprises Ltd (AEL) does not have the capacity to fund it. Adani Mining is already carrying $1.8 billion of debt in Australia. The project would require the coal market to stay robust for decades. Tim Buckley:
“In IEEFA’s view, Adani’s Carmichael thermal coal proposal is unviable and unbankable on any normal commercial evaluation, absent massive government subsidy support in both India and Australia,” says Buckley.
“Adani’s suggestion it will self-fund this proposal is a clear acknowledgement of this.”
In his sermon last Sunday the Archbishop of Sydney, Anthony Fisher, urged parishioners don’t be ‘too quick to judge’ Pell. I found what the Archbishop said appropriate, except that Pell has been judged and found guilty. That is his present status. He is guilty as charged on five counts of sexual abuse. For the third most senior Catholic official on the planet, that is breathtaking. Continue reading The Pell case breaks new ground→
Cardinal Pell is to come back to Australia to face “historical sexual assault offences“. There have been and will be many words written about Pell, but I liked Sean Kenny at The Monthly. Kenny is worth reading on the current political follies, but he says the Pell case reminds us that there are more important changes happening in society.
Charging someone so senior in the Catholic church would have been unthinkable not so long ago. Sexual abuse of minors is finally being taken seriously. Continue reading Saturday salon 1/7→
Cardinal Pell claimed to the royal commission that he wasn’t told about misbehaving priests. Now a number of former officers of the Melbourne Catholic Education Office have given evidence that Pell was in fact told about the somewhat unhinged priest Father Searson. Continue reading Saturday salon 30/4→
Everyone seems to have an opinion about Cardinal Pell’s evidence in Rome to the child sexual abuse royal commission. Most opinions are damning in various ways. I’d recommend ABC RN’s report on their PM program for a detached report, which is not unfairly selective in the pieces it quotes.
Radio National also covered the victims before and after they met with Pell.
Some of them, including David Ridsdale, were positive about the meeting, and Pell agreed to help them further their case for changes in the Catholic Church. Continue reading Saturday salon 5/3→
