Australia vs Norway should be a case study for any nation that finds natural resources. Let few leeches take the cream from the top and then own the print media to convince the minions that are doing it for their best interest. Murdoch/Gina/Forrest We bow down to you.
https://www.news.com.au/finance/business/mining/gas-giant-shell-unable-to-say-how-much-it-sold-as-it-faces-tax-inquiry/news-story/87c34a3e47ed7bd24714076bd82e3dc7
19 Comments
Shame she forgot or didn’t prepare her figures properly. I would have thought that’s pretty negligent why do we accept I can’t remember or I don’t know as a defence?
Don’t click the link. Murdoch/Newscorpse would never support raising this tax.
They love Australia and all its legal and taxation loopholes. Roger cook threatening the prime minister is a classic politicians in the pocket move.
not suprised, they damaged my spine and play it as if it never happened
Pocock: What do you think would be a fair tax or a fair share?
Shell Exec: We pay the wages of the workers and that benefits all Australians.
…so the bare minimum of paying workers is a benefit to the entire country?
Thank you for showing how disingenuous and/or deeply dishonest you are.
Pocock: Sir! Not releasing the fair share, sir!
Japan and Singapore get their energy from running gas powered electricity. Australia the biggest exporter of gas is importing petrol/diesel back from them. HELLO? Do you understand this? Is it an episode of comedy of Errors, or we are just clueless. I am as much worried about climate change as rest of you. But the biggest polluters, and I won’t name them, does it matter to the Planet Earth where it came from? How stupid we can get? We are only supporting China and Russia in disguise.
The whole climate change scam that Bowen bought into was not working for Australia. Let us admit, it was and abject failure and change course. The ship is heading into rocks. Someone wake up the drunk Captain.
Australia needs to stop producing gas in the next 5 yearsÂ
Norway did it the right way.
Government co-ownership of oil companies is the most palatable solution as opposed to introducing additional overheads on mining investment, (taxes).
Not sure it could work here though, as the left of politics would throw a hissy fit.
I mean as much as I enjoy oil execs getting grilled..change the fucking tax legislation?
They take advantage because we let them. Embarrassing their execs every few months and getting sound bites does nothing.
Ironic that this is an article from a media company that has paid zero income tax over the past decade.
Spineless SOBs, the lot of our government for successive decades.
Hey, let’s cut NDIS, but let’s not tax gas exports. Best not to annoy wealthy elite, but it is ok to kick people when they are down. Not a good look.
How is this a grilling? Weak game. Once the facts come out and realize that the industry spent 100s of billions to get to a position it is now…and forecasted to continue to grow and pay more taxes with initial write offs expiring.
Tax payers didn’t help fund the projects so they shouldn’t get rewards until they reclaim costs themselves
Norway is a joint owner of its energy companies, that means a direct share of profit for the government, but it also means a direct share of risk.
Comparing Australia vs Norway is a way to show you’re an idiot.
Legend.Â
Shell spent north of $17.5B USD building Prelude a project widely regarded as the world’s largest white elephant and which they have deprecated to zero. It’s so embarrassing they’ve never actually confirmed the final cost.
By the time it exported its first real cargo it was billions over budget and had been hemorrhaging money for years. Despite sailing into Australia in 2014 it wasn’t officially handed over from the construction contractor until the early 2020s because it couldn’t reach 72hours of runtime without being shutdown. Shell was meant to build multitudes of Preludes sisters (hence its name) and after that experience they were all scrapped. Whilst I’m sure they’ve exported a lot of gas now, it doesn’t seem a reach to say that project has never made a profit.
The Crux infill project they’re tying back to had been equally calamity filled and is miles behind schedule for something that only exists because the initial project was so delayed that INPEX sucked the reservoir down through Icthys before Prelude even got going.
It’s been speculated for years that at some point Shells just going to pack it in on the project and sail it to the breakers in Central Asia to be chopped up into razor blades.
If the Australian taxpayer had invested in this thing it would have been a disaster on the scale of Snowy Hydro.
David Pocock was such a phenomenally good rugby player that he made the Wallabies look competitive against their top opponents for years after they’d been in decline. He’s putting in the same kind of performance in Parliament. The GOAT of lifting up a weak team.