Don Curren 🇨🇦🇺🇦Bloomberg: A #Danish #pensionfund has said it won’t invest in #SpaceX because it is “grossly overvalued” and has a “catastrophic governance structure.”
The Bad PlaceTop Stories | Australia's resource boom created billions. Did the country miss its chance?
AI generated summary, Read the full article for complete information.
Australia’s resource boom has reignited debate over whether Australians are getting a fair share of the nation’s mineral and gas wealth, with many pointing to Norway as a contrasting model that uses high petroleum taxes (up to 78 %) and a sovereign wealth fund to distribute benefits widely and preserve wealth for future generations. In Norway, state participation in oil development, strict fiscal rules and a massive overseas‑invested fund now worth about $3 trillion have helped avoid the “resource curse” and fund extensive public services. By contrast, Australia relies on lower royalties, a 30 % corporate tax and the profit‑only Petroleum Resource Rent Tax, leading critics to claim the sector under‑contributes while industry groups argue it is the country’s biggest taxpayer and job creator. Discussions are now focusing on whether Australia should reform its tax system or expand its own sovereign wealth fund, especially as the nation pivots toward critical minerals and renewable‑energy projects that could generate new windfalls for the economy.
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