Those in government, and those who have recently been in government i.e. both major parties know that Australia's O&G industry pays far far less tax than most people think and what they think is way below Norways O&G tax which feeds their extraordinary SWF - its greater in size than Australia's foreign debt, and that means its humungous. The idea that there will be a "capital / investment" drought if Australia properly taxes it sovereign resources is a nonsense. Our so called competitors - the largest producers and GHG emitters are overwhelming state owned - all ME countries, Russia and Norway to name a few. If there is going to be bugger all tax paid, then leave it in the ground is what many "well informed" voters will say - and who can blame them ??
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