Dick Smith Foods10260530
Dick Smith Foods10260530

Australia’s energy outrage

Published on: Monday, May 1st, 2017

Why can Asian companies get Australian gas cheaper than Australian companies can?
It’s the greatest foreign sell-off we have ever encountered, defying all logic that any government could have given it the go-ahead.

Watch Dick in this ACA segment.

ATO data shows that in 2014-15, out of 149 petroleum/gas projects, only 8 were listed as “profitable”

In that same year, out of $25 BILLION dollars in petroleum sales, only $1.2 billion was paid in tax/royalties

Going forward its getting worse with WA govt admitting all those gas projects off their coast will return “zero tax revenue for decades”

The Tax Justice Network has calculated Qatar will receive $26 BILLION in royalties next year. Australia will receive $0.8 billion (we are about to overtake Qatar as top gas exporter for a fraction of the royalties. How on earth can Qatar manage this stuff better than us?)

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