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https://theconversation.com/foreign-companies-are-making-billions-off-australias-gas-its-time-that-changed-281010>
"Is Australia giving away its gas resources, virtually for free?
That question is at the centre of this week’s parliamentary inquiry into the
taxation of gas resources.
Over the last decade, Australia has become one of the world’s largest exporters
of liquefied natural gas.
But while the gas is extracted from beneath Australian soils, the profits go
almost entirely to large multinational companies. Research suggests gas
companies have made roughly $A149 billion from exports in just four years. Only
a small percentage of this profit has been taxed.
That’s why some politicians, think tanks and environmental groups are pushing
for a 25% tax on gas exports.
Modelling by the Australia Institute suggests this tax could raise up to $17
billion a year and potentially lower domestic fuel prices by incentivising
producers to sell more gas into the Australian market."
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
