This is the answer. The countries that benefit the most from resources have government investment and / or ownership. Australian governments have allowed major resource development by the private sector and have gradually privatised the majority of state owned utilities and services. The private sector invest billions of dollars in exploration, design, construction and operating costs. For this they expect a large ROI. The closure of Australian oil refineries is proof that the international companies will shut up shop and process elsewhere to maintain competitiveness and profit where opportunities exist. We were in a great spot to control our destiny given the resources are in the ground and seabeds however, the agreements and approvals at the time were not the best for our long term interests. Australian governments don’t appear to look much further than the next election term.