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https://reneweconomy.com.au/as-energy-prices-surge-a-tax-on-windfall-gas-profits-could-be-the-best-way-to-protect-households/>
"The war in Iran has once again exposed how vulnerable the world’s energy
markets are to geopolitical disruption. In wild swings, benchmark crude oil
prices spiked as high as US$120 per barrel, roughly 50% higher than before the
conflict, before sliding below $100.
Energy price surges hit households quickly. Higher petrol prices raise
transport costs and push up everyday prices. This is the second major energy
price spike in the past five years due to war.
The federal government faces a familiar question: what policy tools should it
use to respond to sudden global oil price shocks and rising living costs?
For Australia, the answer is more complex because of its unique position in
global energy markets. But right now, there is a strong case for taxing
windfall gas profits to help households – as long as we get the policy right."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
