HIO 0.00% 2.7¢ hawsons iron ltd

Ann: Mineral Resource Upgrade, page-424

  1. w27
    2,452 Posts.
    lightbulb Created with Sketch. 751
    We often hear the mantra about "fossil fuel subsidies" but we never see any detail as to what these subsidies are. I am not aware of any genuine subsidies to fossil fuel in this country. The only one ever quoted as a specific subsidy is the diesel fuel rebate. This is definitely not a subsidy and anyone who claims it as a subsidy is either woefully ignorant, possibly willfully so, or is disingenuous For those interested in the facts rather than the mantra quoted by idealogues I thought I might post a short history of the diesel fuel rebate.
    When motor cars had been on our roads (tracks) for a few years, some politicians, and motorists, became interested in providing better roads for the new vehicles. There was a decision made to provide finance for better roads and the Commonwealth Government imposed ax excise tax on motor spirit (petrol) to provide finance for this purpose. Some years later some people began to introduce vehicles, particularly heavy trucks, which were powered by diesel fuel which also run on the roads, so financed. There arose political pressure to extend the motor spirit tax to diesel fuel and eventually legislation was introduced to charge an equivalent tax on diesel fuel used in road vehicles. It became the practice for people in the earthmoving industry, as I was, and farmers, who also had road vehicles to use tax free fuel in their road vehicles. If you were not too greedy and ensured that you purchased a modest amount of tax paid fuel it was impossible for the authorities to prosecute those rorting the system. The solution was to impose a common tax on all diesel fuel sold and to rebate the tax to those users who were using the fuel for purposes other than for road vehicles. This made the control much easier to police and prevented a huge leakage in the previous tax regime. The rebate is in no way a subsidy and was never intended to be one. This should be abundantly clear to anyone having a casual look at the system and I have serious concerns for the integrity of all those who refer to the diesel fuel rebate as a subsidy for fossil fuels.
 
watchlist Created with Sketch. Add HIO (ASX) to my watchlist
(20min delay)
Last
2.7¢
Change
0.000(0.00%)
Mkt cap ! $27.24M
Open High Low Value Volume
2.6¢ 2.7¢ 2.6¢ $1.988K 75.34K

Buyers (Bids)

No. Vol. Price($)
13 1128358 2.6¢
 

Sellers (Offers)

Price($) Vol. No.
2.8¢ 1848104 3
View Market Depth
Last trade - 15.30pm 09/07/2024 (20 minute delay) ?
HIO (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.