The Big Miners: When do we get our fund?

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nut

nut

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Saint said:
Santos and others just own both major parties and the media. So everyone thinks the "Greens are crazy" for suggesting we could basically have very comfortable lives if we just bothered to tax resource extraction at even a low level.
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But how would Gina be able to feed her children?
 
For some reason we were too impressed by George Pell's mate walking around Sydney Harbour in a Wallabies trackie to worry about the fact he was pissing away our boom and still taxing us at the highest rates of any Australian government.
 
nut said:
$222B USD… our debt could be be paid off in 5 years.

When are Australians going to wake up and realise we are getting screwed? We basically give our resources away.
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What rubbish. Anyone who believes that should look up how much we actually get from royalties. Also ask: why is it that the forecast federal budget fluctuates with the prices of resources, particularly iron ore.

E.g. "Falling iron ore prices could punch a $3 billion hole in the budget over the next four years, according to analysis by the federal Treasury." https://www.smh.com.au/politics/fed...hit-nation-s-bottom-line-20240818-p5k3br.html

If we were giving it away, the price of iron ore wouldn't affect the budget in the slightest.
 
Norwegian Blue said:
What rubbish. Anyone who believes that should look up how much we actually get from royalties. Also ask: why is it that the forecast federal budget fluctuates with the prices of resources, particularly iron ore.

E.g. "Falling iron ore prices could punch a $3 billion hole in the budget over the next four years, according to analysis by the federal Treasury." https://www.smh.com.au/politics/fed...hit-nation-s-bottom-line-20240818-p5k3br.html

If we were giving it away, the price of iron ore wouldn't affect the budget in the slightest.
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Australia’s great gas giveaway

According to the Australian Government’s Future Gas Strategy, gas is “critical” to the nation’s economy. In view of this, many Australians might be surprised to learn that a large amount of the country’s gas reserves are essentially being given away for free.
australiainstitute.org.au
 
nut said:

Australia’s great gas giveaway

According to the Australian Government’s Future Gas Strategy, gas is “critical” to the nation’s economy. In view of this, many Australians might be surprised to learn that a large amount of the country’s gas reserves are essentially being given away for free.
australiainstitute.org.au
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Latest available figures (22/23) have total royalties of $31.5B being paid for our resources. You can argue whether that's enough all you like, but to pretend we're giving them away is daft.


(Yes, it's a report prepared by the Minerals Council which will no doubt have the conspiracy nuts frothing. But the figures in it are public domain, all EY have done is collect them.)
 
Norwegian Blue said:
Latest available figures (22/23) have total royalties of $31.5B being paid for our resources. You can argue whether that's enough all you like, but to pretend we're giving them away is daft.


(Yes, it's a report prepared by the Minerals Council which will no doubt have the conspiracy nuts frothing. But the figures in it are public domain, all EY have done is collect them.)
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31 billion .. that’s cute.

Norways 2 trillion fund made 220 billion.
 
We'd be invaded in about 5 minutes if we tried, but the miners have their slaves in place in all major parties, so they don't ever need to.

Gough was tossed out for this: the other crazy crap got through but tampering with English investors' profits? Too far.
 

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liz said:
But how would Gina be able to feed her children?
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She takes up the calories needed for several people.

The lack of a sovereign natural resources wealth fund in Australia is the biggest mistake ever made in this country. We could be paving the streets with gold by now. You'd be surprised how many problems can go away when you throw enough money at them. But no, we would prefer Santos and BHP to pay one dollar of tax while ordinary Australians can't find a place to live.
 
Cyclops said:
We'd be invaded in about 5 minutes if we tried, but the miners have their slaves in place in all major parties, so they don't ever need to.

Gough was tossed out for this: the other crazy crap got through but tampering with English investors' profits? Too far.
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I think we have been invaded and we don’t realise….
 
nut said:
I think we have been invaded and we don’t realise….
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We were set up as a colony of Britain. They're still here. I believe the biggest foreigner owner and investor in Australia is Great Britain. They own loads of cattle stations, mines and chunks of major companies, and we make sure they pay little tax.

Used to be the Netherlands was a major player too. People worry about China, sure but the Poms are more of a problem.
 
Grace Tame’s brilliant deconstruction of Murdoch in Crikey recently made the point of how his media empire is just a propaganda outfit for his business interests many of which happen in be in the mining & resources sector.

Quelle surprise then that all the commercial media in this country is sucking off Dutton who is Gina & Rupert’s lapdog.
 
Gough said:
For some reason we were too impressed by George Pell's mate walking around Sydney Harbour in a Wallabies trackie to worry about the fact he was pissing away our boom and still taxing us at the highest rates of any Australian government.
Click to expand...

Tax rates not even close to being the highest, go and have a look at the tax rates from the 80s when I first started work.
 
E Shed said:
Grace Tame’s brilliant deconstruction of Murdoch in Crikey recently made the point of how his media empire is just a propaganda outfit for his business interests many of which happen in be in the mining & resources sector.

Quelle surprise then that all the commercial media in this country is sucking off Dutton who is Gina & Rupert’s lapdog.
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I don't think that's correct at all. All I can find is Murdoch having a seat on Strategic Advisory Board of Genie Oil and Gas and is a co-investor in a 5.5% stake in that company. That's a very small proportion of his business empire and a far cry from "many".
 

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The Big Miners: When do we get our fund?


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