Huge and others,
I need to make a correction to my post 5367487.
This link
http://www.theaustralian.com.au/business/throwing-petrol-on-resource-super-profits-fire/story-e6frg8zx-1225867007731
has the following comments
"That the $43bn Gorgon project will be covered by the PRRT is completely accurate. It will start building up to its 15 million tonnes a year of liquefied natural gas capacity from about 2015."
The article is worth reading in full.
Huge, I am not sure the Govt has done the sums. The article in question highlights issues around retrospectivity and the fact that it has taken 23 years for the oil & gas industry to begin reinvesting in the sector under the tax. Can Aust afford an investment strike of 23 years?
HT1
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