Uranium Trade with India would generate the capital needed to help rebuild Australia, writes Mark Sharma.
It is not exactly the kind of start that anyone would have expected for 2011. Bushfires in Western Australia and then Floods in Queensland, Victoria, Tasmania and New South Wales have all but put a dampener to the festivities of the New Year. The death and devastation that these tsunami type floods have caused has hurt every Australian. It has touched all our hearts and millions more around the world. But Australia, they say, is a tough nation. This is a self made country; a nation that can be knocked to the ground but can never be defeated. The “never give up” Aussie spirit will overcome even the greatest of challenge that Mother Nature can throw at us.
Already thousands have taken to streets in Brisbane and elsewhere to clean up the mess that these killer floods have unleashed. Not to forget the generosity of millions of Australians. Within hours of first floods, thousands of people pledged money to the Premier’s Relief Fund in Queensland. Schools, Offices, Tradies, restaurants, corporate groups, sporting teams and hundreds of other professional bodies got together and raised money for this worthy cause. At last count, close to $65 million has been raised and this is expected to go up.
It was heartening to see that even smaller nations like Sri Lanka, Tonga and East Timor wanted to help in Australia’s hour of crisis. The Federal and Queensland State opposition should also be commended on their show of solidarity with the government at this crucial juncture. The cleanup bill is expected to run in Billions of dollars and the effects of this devastation would stay with us for months and possibly years.
People in Sydney and some other parts of NSW can consider themselves lucky that they were not directly affected by the water like our brothers and sisters north of the border. But this National Crisis will eventually hit all of us. Apart from the extra spending on repairing infrastructure, it will also hurt grocery and petrol bills of every Australian family.
The nation is already under a mountain of debt and taking more debt is only going to worsen the situation. It is expected that all the gains that our Aussie dollar enjoyed against the greenback will fall spectacularly.
To sum it up, Australia is staring down the barrel of another financial crisis. Nobody is talking about it just yet but eventually it will be the most important issue. Already there is speculation that Reserve Bank will put up another interest rate anytime between now and next 3-4 moths.
In short, we need to generate more money and we need it now. Many experts believe that it is our mining Industry that will once again rescue us from another disaster. Yes, the same industry that Kevin Rudd wanted to kill with RSPT. But Australia can’t just rely on normal exports. We need to rethink our strategies and look for newer avenues.
Only recently, Prime Minister Gillard announced a nuclear deal with Russia and called it a “job creator”. It is widely expected that Labor party will finally get rid of its colonial thinking and embrace new realities by starting talks with India for a similar deal. Indian PM Manmohan Singh is expected to visit Australia later this year and Uranium exports is tipped to be on top of the agenda. India desperately needs Uranium to feed the energy demands of its over 1 billion strong population. Imagine if you had to stay without electricity for hours in 45.C sweltering heat?
Over 800 million Indians experience this every year for which Australia has the solution. It is expected that a Uranium deal with India can fetch as much as $1 Billion in extra cash over three years.
Already USA, France and Russia have signed major nuclear deals with India. In Australia, Coalition has strongly supported Uranium Exports to India. This is the right time for Prime Minister Gillard to show some leadership and agree on another “job creating” nuclear deal. She needs to pick up the phone and call her counterpart in New Delhi with the good news. A nuclear deal with India would be the right thing for the people of Australia, India and the planet.
It would provide electricity to millions of Indians, financial strength to the Australian nation and a cleaner planet for rest of the world. Is there anyone listening in Canberra?
Mark Sharma is an Independent Conservative politician who stood as a candidate in the electorate of Watson in NSW. He writes regularly for various Indian-Australian Newspapers and on his blog Voice of Strathfield
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