Norway 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 — 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 “reform” talk is theatre — 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, we’ll 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
Mojo ♻️
Saji Weerasingham
