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Solomon Islands and China, Will this end up in Tears?

J_D 2.0

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Just wondering if your awash in coal and gas, how the corrupt politicians could have given it away.
None of the major gas exporters pay any tax as they are foreign multinationals who know how to make “zero profit” in Australia.

They are also allowed to write off any royalties they would have been paying against their costs of building the facilities in the first place so because they make sure to always declare a loss they will basically never pay the facilities off either.

That leaves them paying basically zero dollars to the Australian people for the gas they export overseas despite them making billions of dollars a year out of it.

For example Qatar is basically equal with Australia as the worlds largest LNG exporter but Qatar will earn over $20 billion in royalties and taxes from their LNG exports but Australia will only earn about $1 billion at best and that’s in the 2030s after the multinationals have written down their tax liabilities.

The Australian government also made sure to not have a gas reservation policy that would have withheld some of our gas for exclusive use by the Australian market ensuring that it all goes overseas wherever possible.
 

Martbar

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None of the major gas exporters pay any tax as they are foreign multinationals who know how to make “zero profit” in Australia.

They are also allowed to write off any royalties they would have been paying against their costs of building the facilities in the first place so because they make sure to always declare a loss they will basically never pay the facilities off either.

That leaves them paying basically zero dollars to the Australian people for the gas they export overseas despite them making billions of dollars a year out of it.

For example Qatar is basically equal with Australia as the worlds largest LNG exporter but Qatar will earn over $20 billion in royalties and taxes from their LNG exports but Australia will only earn about $1 billion at best and that’s in the 2030s after the multinationals have written down their tax liabilities.

The Australian government also made sure to not have a gas reservation policy that would have withheld some of our gas for exclusive use by the Australian market ensuring that it all goes overseas wherever possible.
I can see its a sore point with you,
fair enough to. The Pommies used to be able to buy dairy and meat cheaper than us. A pound of N. Z. butter was substantially cheaper in London than it was here. The money that Aussies missing out on the LNG is appalling.
 

J_D 2.0

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I can see its a sore point with you,
fair enough to. The Pommies used to be able to buy dairy and meat cheaper than us. A pound of N. Z. butter was substantially cheaper in London than it was here. The money that Aussies missing out on the LNG is appalling.
It would be a sore point with any Australian if they knew about it. The MSM makes sure the bread and circuses carry on so people don’t know about it. There’s talk of more industry shutting up and people loosing their jobs because the businesses can’t afford the gas bill, which is insane when we have shiteloads of gas.
 

wetwork65

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It would be a sore point with any Australian if they knew about it. The MSM makes sure the bread and circuses carry on so people don’t know about it. There’s talk of more industry shutting up and people loosing their jobs because the businesses can’t afford the gas bill, which is insane when we have shiteloads of gas.
Welcome to the future of Australia.
Reality bites.
 

Immortality

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That's like how millions of liters of pure NZ water heads over to China each year for no cost except the consent (from the local council) to take the water. It's a travesty.
 

J_D 2.0

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Welcome to the future of Australia.
Reality bites.
We’ve been on the slippery slope for a long time. We actually don’t meet the definition of a developed country anymore as our tertiary industries have been decimated and we basically just dig stuff out of the ground and flip houses now.
 

Lex

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We’ve been on the slippery slope for a long time. We actually don’t meet the definition of a developed country anymore as our tertiary industries have been decimated and we basically just dig stuff out of the ground and flip houses now.
In the mid 80s l asked a mate (who was uni educated. I dropped out beginning of 4 form, year 10?) question. What is a 3rd world country? His reply was any country below the equator.
 

J_D 2.0

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wetwork65

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We’ve been on the slippery slope for a long time. We actually don’t meet the definition of a developed country anymore as our tertiary industries have been decimated and we basically just dig stuff out of the ground and flip houses now.
Remember Keating's "banana republic" outburst?
We're finally there. But we now lack affordable nnd reliable energy.
 
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