Saji WeerasinghamAlaskan residents get given an oil dividend from the government's oil profits #auspol #prrt #taxdodging
https://www.instagram.com/reel/DRWAie1CRGd/?igsh=aXY4MHBhemdiNjVi
Mojo â»ïžNorway taxes its oil wealth heavily, owns a share of production, and invests the proceeds for future generations. Australia, by contrast, practically gives its resources away.
The ABC story notes the contrast â but misses the deeper rot: our tax system was designed by and for the resource giants. The PRRT barely touches gas profits, and the Minerals Resource Rent Tax was killed off by mining lobbyists and their political mouthpieces. The result? Billions in exports, next to nothing returned to the public.
Norway treats its resources as a national inheritance; Australia treats them as a private loot. Offshore LNG producers have paid almost no PRRT, iron ore and coal escape rent taxes altogether, and companies exploit endless deductions to avoid paying their share. The so-called âreformâ talk is theatre â the same oligarchs who own the mines own the media, shaping the story to make looting sound like patriotism.
Every tonne extracted should fund schools, hospitals and the energy transition, not private jets and political donations. Until we have a national resource rent tax and a sovereign wealth fund that captures super-profits for the public, weâll keep being a quarry masquerading as a country.
#taxjustice #australia #resources #inequality #climate #auspol #PRRT #fossilfuels #gascartel #sovereignWealthFund
https://www.abc.net.au/news/2025-11-05/lessons-for-australia-from-norways-tax-on-resources/105939048
Nice one #punterspolitics đ
Love the question about foreign multinational companies getting our gas for basically free
I Complained About The Gas Industry While Their Lobbyist Stood Behind Me. | Punters Politics
@Alpha1Nine #Dutton caves to gas giants instead of making them pay their fair share! Instead of taxing gas companies properly and ensuring they contribute via a resource tax, Peter Dutton is fast-tracking Woodsideâs North West Shelf expansionâa project that would:
- Lock in decades of free gas for Woodside (worth hundreds of billions!)
- Drive up WA gas & electricity prices (already tripled since exports began)
- Risk draining WAâs domestic gas reserves
- Destroy sacred Murujuga rock art
- Blow out Australiaâs emissions (equal to 12 coal power stations every year!)
A National Interest Test? This project would fail miserably. But Duttonâs priority isnât Australiansâitâs propping up foreign-owned gas corporations raking in record profits while we pay the price.
#Auspol #LNPFail #PRRT
#MakeThemPay #GasTaxNow #DuttonFailsTheTest #Gas
@gnoll110 Totally agree with your sentiments. Itâs alarming how much wealth is being generated for a select few through #mining and #gas extraction while the broader Australian public sees so little benefit. The lack of a proper Petroleum Resource Rent Tax (#PRRT ) or equivalent on many of our natural resources is shocking, especially given how much profit these companies are extracting from our land. The idea of drastically increasing resource taxes makes perfect sense. Not only would it curb unsustainable production, but it would also ensure weâre not draining our finite resources for short-term profits. The gas and #coal industries, in particular, are responsible for immense environmental and social costs, yet they continue to influence government policy to avoid proper regulation. We absolutely need to model and plan a sustainable approach to #resourceextraction, one that benefits the whole nation, not just a privileged few.
@Susan60 Better idea, instead of making our money importing cheap labour, how about taxing our resources properly ? #auspol #freeeducation #PRRT
Norway's smart management of oil and gas wealth has made its citizens the richest in the worldâa title Australia could have claimed with proper resource taxation. Instead, we've lightly taxed our resources and rapidly increased population through immigration, diluting our wealth. Australia should be thriving. #Australia #ResourceTaxation #WealthManagement #Norway #EconomicGrowth #Auspol #PRRT #Gas
https://www.macrobusiness.com.au/2024/08/australia-should-be-swimming-in-money/
Australia should be swimming in money
Earlier this year, The AFR posted the following chart showing the enormous growth in Australiaâs terms of trade over the past 20 years: The AFRâs John Kehoe noted that âcompared to other countriesâ, Australiaâs terms-of-trade âhas increased by almost two and a half times, or 146% since the turn of the centuryâ. The following chart
@petros @feather1952 It's alarming how Australia's mainstream media, especially outlets like the Herald Sun, often overlooks crucial issues like this. The fact that many people remain unaware or misinformed is a significant problem, exacerbated by the fact that media ownership is heavily concentrated. It's no surprise when we see Murdoch-owned outlets ignoring or downplaying such storiesâafter all, the interests of fossil fuel companies and their shareholders are closely tied to these media giants. It's a sad reality that you have to turn to international sources like The Guardian to get a more accurate picture of what's really going on in Australia. #MurdochRoyalCommission #PRRT #Auspol #gas #FossilFuelIndustry
Norwayâs Sovereign Wealth Fund is now valued at almost $340,000 per person, showcasing a robust strategy to support its ageing population.
If Australian policymakers properly taxed our resources, we wouldn't need to worry about federal budget debt. We wouldn't have to rely on #massimmigration to fill budget gaps, passing costs to states and residents.
#Australia needs a smart, sustainable approachânot a #Ponzischeme masked by record population growth.
Unfortunately, the Albanese Government has embraced a â #BigAustralia â model, launching one of the worldâs largest immigration programs. As a result, Australians will face a crowded, high-rise future in a deteriorating environment.
The Australian way of life faces extinction
When Australiaâs population was 19.3 million people in 2001, Treasurer Peter Costello issued the first Intergenerational Report (IGR). The 2001 IGR projected that Australiaâs population would be 25.7 million in 2050, with yearly net overseas migration (NOM) projected to be 90,000. The following year, in 2002, a Senate Inquiry convened by the Howard Government on