Gas industry and Adult Education – similar wages bill but rather different profits
https://i.redd.it/ss7656p8prsg1.jpeg
Gas industry and Adult Education – similar wages bill but rather different profits
https://i.redd.it/ss7656p8prsg1.jpeg
22 Comments
You can thank the Coalition for this
Not to question the veracity of the data, but $4m in salaries across the entire gas/ oil industry doesn’t seem like it would touch the sides tbf
Isn’t this graph really misleading? The salaries generated by the gas industry is far higher than that because of the capital expenditure, maintainance and logistics in building and shipping the natural gas.
Especially since the costs on a university are primarily on a year by year basis whilst resources is on a decade by decade basis.
Investment since 2010 has been around $400 billion in job creation which is a more honest answer. And once you consider economic multiplier effects, that is a lot of money.
now compare capital expenditure of both industry and the economic activity generated by the capital expenditure of both industries
this just looks like propaganda to tax the multinational gas industry in Australia
outrageous!
I’m all for it like most Australians so it won’t happen
Love to know how many people are in the oil and gas vs how many people in education
The problem with the internet is it gave stupid people the ability to have opinions and share them. Wild.
I think you’ll find there is a lot more investment per worker being leveraged in Gas than Education.
To be fair this is productivity in a graph.
Yes we should tax the gas industry more but the best industries are ones that make a lot of profit.
For those they will employ people even if there are “shortages” of people.
Ie low margin industries otoh at risk of collapsing will say “we cannot get any skillz” why they try to pay minimum wage.
If Australia only had industries that made a shitload you let them compete for labor pay us all a bomb and not give a fuck about shortages of skills.
Oh boy. This is gonna be something of a comment section…
I do want the primary resource companies to pay their fair share in royalties before they can get away with transfer pricing shenanigans. If they can’t make a profit after that, boo fucking hoo.
But I don’t want any form of education to be for profit, so I don’t think this is a gotcha graph.
Almost every single previous Resources Minister now work for mining companies. From both parties. This is why this graph exists.
The comparison is structurally flawed.
People commenting without any business knowledge. Typical Reddit, I guess.
Before the nay-sayers come in:
In Adult education, revenue = labour. More wages = more output.
In oil & gas, revenue = assets + commodities. Labour is a small input, not the driver.
It also removes depreciation and interest, which would probably reduce $71b down by 40%.
Oil and gas also requires extremely high capital and has high risk (thus high reward). Adult education is labour intensive and service based. You are literally capped by how much labour you can “capture” and the size of the market available in a particular subject. E.g. you only have so many people a year interested in becoming accountants.
Anyway, I’m sure this will get downvoted because “mining bad”.
Why the fuck would anyone want a for-profit education? Which corners are they cutting?
Looks like they could stand to share some of that around.
Now include capital expense
Look I’m pro a gas tax but this comparison makes no sense
We sure do love an out of context graph.
Disingenuous because the costs are in capital, and corporates pay sizeable corp tax on this. Still it should be higher, but this is misleading.
“You’re talking about it aren’t you?”
What in the actual fuck is this meant to show? We shouldn’t educate adults because the profit margin is too low? Fuck off with this nonsense.
Now can we top off the amount of tax paid in. Probably be shockingly close to each other