PLS 1.22% $2.85 pilbara minerals limited

Good News & Bad News, page-46284

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    https://www.bluemountainsgazette.com.au/story/8762625/the-mining-industry-myths-and-the-reality-of-australias-economy/?msg=access

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    Poor Ebony. She mixes up the baby with the bathwater.

    The theme of the article is that mining companies do not pay enough taxes. However her examples are predominantly about oil, gas and coal companies. She even has a photo of an open cut mine with the caption "Australia charges no royalties on over half the gas we export" Who knew that is where gas comes from?

    She says:
    The oil and gas industry has been described as "systemic non-payers of tax" by the Australian Taxation Office. Despite huge increases in gas production and profits, revenue from the petroleum resource rent tax (PRRT) has barely moved. No LNG projects have ever paid PRRT. In fact, the government collects more money from HECS than it does from the PRRT.

    Consider that Australia is one of the biggest exporters of gas in the world, yet we charge no royalties on over half of the gas we export. None. Zero. Zip. Nothing. Australia Institute research shows in the last four years, Australians have given away gas that made $149 billion worth of LNG, for free. Around $111 billion worth of this royalty-free LNG was produced in Western Australia alone


    (There is more, but I fear the HC police will hit me with copyright issues)

    Basically the govt has fallen into the hands of the FF lobby.

    If any apologist pipes up to defend the FF industry without a sensible morally correct analysis I'll have to put him on ignore.

    Last edited by Giobria: Sunday, 14:40
 
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